hypothec

The Act makes some changes to the hypothec, even though it is not a diligence.

Almost as significant was the tacit hypothec now introduced.

The goods must, however, be present on the premises at the time of enforcement of the hypothec.

The court held that the furniture was indeed subject to the lessor's tacit hypothec.

The hypothec does not secure all sums which happen to be due to the landlord, only a portion of the rent.

Landlord's hypothec is enforced by court proceedings known as sequestration for rent.

It also abolishes the hypothec over goods owned by a third party (section 208(4)).

The seller's tacit hypothec is triggered by the insolvency of the buyer.

The performance of the duties of the manager must be secured by hypothec, guarantee, deposit, and so on.

A hypothec is a real right on a movable or immovable property made liable for the performance of an obligation.

There is no similar institution to the mortgage in the civil law, however a hypothec is a device to secure real rights against property.

The lessor's knowledge of the existence of the goods is not required before the hypothec may be enforced.

(A lien differs from a tacit hypothec most obviously in this respect.)

In commercial leases the landlord has a hypothec over the tenant's goods on the landlord's premises in security for the rent.

The other hypothecs are statutory, the most important being the tacit hypothec of the seller under an instalment sale agreement.

However, a pledge gives possession on delivery whereas a hypothec gives neither possession nor ownership.

Article 2660 of the Civil Code of Quebec defines a hypothec as follows:

The hypothec is accessory to the debt obligation; accordingly, it falls away (by operation of law) as soon as the rent is paid.

The only common-law tacit hypothec recognised in South Africa is that of the lessor of immovable property.

The lessor's tacit hypothec will be nullified if the third party informs the lessor of his ownership of the property in question.

And at last, in the village of Ussel, saddle and all, the whole hypothec turned round and grovelled in the dust below the donkey's belly.

Turning to the point of view of the trustee (or heir): all property received from the testator was subject to a tacit hypothec in favour of the beneficiary.

Once the lessor's tacit hypothec has been perfected, the lessor acquires a real security right: a right of preference following a sale in execution of the movable property.

The seller's tacit hypothec under an instalment sale agreement secures the credit grantor's claim to outstanding instalments, so that the credit grantor has a preferential claim.

The lessor's tacit hypothec, also known as the landlord's tacit hypothec, arises out of the relationship between a lessor and a lessee.