Property assigned pursuant to Article 2372-1 may subsequently be assigned to guarantee debts other than those mentioned in the constitutive act provided that the latter expressly so provides. The settlor may offer it as security, not only to the original creditor, but also to a new creditor, even if the first has not been paid. Where the settlor is a natural person, the trust assets may then be used as…
Ownership of a claim may be assigned as security for an obligation by the effect of a contract concluded pursuant to articles 1321 to 1326.
The secured claims and the assigned claims are designated in the deed. If they are future, the deed must allow them to be individualised or contain elements allowing this such as the indication of the debtor, the place of payment, the amount of the claims or their valuation and, if applicable, their due date.
Sums paid to the assignee in respect of the assigned claim shall be set off against the secured claim when due. If this is not the case, the assignee retains them under the conditions set out in articles 2374-3 to 2374-6.
Where the secured claim is paid in full before the assigned claim is paid, the assignor shall automatically recover ownership of the assigned claim. .
Ownership of a sum of money, either in euros or in another currency, may be assigned as security for one or more present or future claims.
On pain of nullity, the assignment must be made in writing. This writing shall include the designation of the secured claims. If they are future, the deed must allow them to be individualised or contain elements allowing this such as the indication of the debtor, the place of payment, the amount of the claims or their valuation and, if applicable, their due date.
The assignment is enforceable against third parties by delivery of the amount assigned.
The assignee is free to dispose of the sum assigned, unless an agreement to the contrary specifies its use.
Where the assignee does not have free disposal of the sum assigned, the fruits and interest produced by it increase the basis of the guarantee, unless otherwise agreed. Where the assignee has free disposal of the sum assigned, interest may be agreed for the benefit of the assignor.
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PETROFF LAW FIRM (SELARL LEGASTRAT)
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75001, Paris France
RCS Paris n°814433470
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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