Definition
Collateral duties are incidental to a claim, the more often they give the recipient an interest with its attributes: the right of preference and the right away.
So these are real right accessories as opposed to real rights, which only give a major control on the real thing, except to have to admit, now, a new type of collateral: the trust property, although it leaves not exist for the benefit of the creditor owner (mortgage property retained) or does not give it (mortgage property granted) all attributes of ownership, such as the usus and fructus. This is, indeed, admitted, under the collateral by the new sections 2329-4 ° and 2367 to 2373 and under the new trust agreement (law of February 19, 2007) by sections 2011 to 2031 .
law reform collateral (Ord. 23/03/06)
1 - It makes some simplification of the law of security interests, in particular terminology. So the pledge does more than the tangible, the collateral, intangible.
2 - She returned some real guarantees of security interests in themselves, such as the right of retention and ownership retention.
3 - It modernizes the law of security interests by developing the plan of some of them (eg, admission of non-possessory pledges, commissory legality of the pact) and suggest new ways of conventional collateral (eg mortgage battery, the reverse mortgage). This latest development reflects the will of the legislature to bring French law in other legal systems with guarantees simpler, eg available for future obligations or sitting on things to come.
However, the system remains in place that, traditionally, the multiplicity of security interests, as opposed to those who accept the principle of ensuring safety from creditors, as the security interest of U.S. law (Art. 9 dl ' Uniform Commercial Code).
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