THE SALE OF THE MORTGAGED ASSET AND PROPERTY TAKING IN THE ACCOUNT OF THE CLAIMJournal: The Journal CONTEMPORARY ECONOMY (Vol.1, No. 4)
Publication Date: 2016-12-31
Authors : Nicolae GRĂDINARU;
Page : 38-50
Keywords : credit; mortgage; taking over the property; foreclosure; debt.;
The mortgage lender may petition the court for enforceability the mortgage securities by selling the mortgaged movable asset. At the request for the approval there will be attached documents proving the existence mortgages and of the mortgage securities along with proof of drawing up the mortgage. The court will consider the existence of debt, and of the mortgage legally executed and will approve the sale, summoning the interested parties. Application for a declaration of enforceability of the mortgage securities by selling the mortgaged movable asset interrupt the prescription right to obtain enforcement. The mortgage lender can sell mortgaged movable property in the state in which they are, or after taking commercially reasonable measures to their recovery. The lender may sell the mortgaged movable property by public auction or by private treaty through one or more contracts, in bulk or separately in any time or place, on reasonable commercial terms. The creditor may take for itself the mortgaged asset to settle the claim, unless the law provides otherwise, the settler consents and those mentioned, do not oppose. The consent of the settlor to take over the property by the creditor in the account of the claim must be expressed in writing and be subsequently non-performance. The lender who wants to take over the mortgaged asset to settle his claim, will score in the archive, a notice of taking in the account of the claim and notify the persons referred to, this offer.
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