As stated in Article 1305-4 of the Civil Code, the debtor cannot claim the benefit of the term if he does not provide the securities promised to the creditor or if he reduces those which guarantee the obligation.
The debtor also loses the benefit of the term when he changes the use of the mortgaged property or when he refuses the creditor access to the mortgaged property to ensure that it is in a good state of maintenance and preservation or, in the case of a loan with periodic interest payments, when he defaults on one or more interest instalments. In the event of default by the borrower…
The debt owed by the borrower or his successors may never exceed the value of the property assessed at the time the term expires. When the mortgagee calls in his guarantee at the end of the term, if the debt is then less than the value of the property, the difference between this value and the amount of the debt is paid, as the case may be, to the borrower…
The borrower may always, on his or her own initiative, terminate the loan contract granted to him or her by repaying all the sums already paid in principal and interest.If the borrower has opted for a lump sum payment of the capital, he or she may, on his or her own initiative, repay part of the sums paid. However, the lender may refuse a partial repayment of less than an…
In the cases of repayment provided for in article L. 315-16, the lender is entitled to demand compensation which, without prejudice to the application of article 1231-5 of the Civil Code, exceed an amount which, depending on the duration of the contract already performed, is fixed in accordance with procedures determined by decree in the Conseil d’Etat.
Early repayment may not give rise to any compensation or costs payable by the borrower other than those mentioned in articles L. 315-16 and L. 315-17.
The borrower may, in the case of periodic capital payments, request a suspension or modification of the payment schedule.These adjustments are made at the conventional rate defined in the main contract and give rise to the drawing up of a new statement of the periodic payments and the interest accumulated on these sums for the forecast period of the loan remaining to run. The capital and interest portions are shown…
On the death of the borrower or the last living of the co-borrowers, the heirs may pay the debt capped at the value of the property estimated on the day the estate is opened. This valuation is carried out as necessary by an expert chosen by mutual agreement between the creditor and the borrower or appointed at their request.Failing this, and notwithstanding the rules applicable to acceptance with the benefit…
In the event that the borrower or his heirs dispose of the property, the mortgagee is notified of the proposed assignment.In the event that the mortgagee disputes the value of the property set out in the deed of assignment, the property is appraised by an expert chosen by mutual agreement between the creditor and the borrower or appointed at the borrower’s request.If the value of the property ultimately proves to…
If the borrower defaults on the periodic repayment of interest, the lender may demand immediate repayment of interest that has fallen due but has not been paid.
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is a Registered Trademark of
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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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