Govern the relationship between multiple pledgee

17.04.2014
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Riešite question, which the creditor is entitled to commence a lien? The answer is the "PRIOR TEMPORE POTIOR jure" – earlier in time, stronger law.

In the case of, that one of the pledgees will begin the pledge, is obliged to notify the pledgee, but only by, who are crucial in order to satisfy the liens before him. With Ustanovenie § 17 ODS. 5 point. b) a c) Law on voluntary auctions, Auctioneer clear obligation to send notice of auction to persons, which, according to the notification mortgagee - the plaintiff auction on the subject, to be auctioned lien or other right registered in the Land, or in other registers.

In practice, the exercise of lien frequently priority pledgee (First in Line), but the law allows, to its pledge first made the pledgee, which is crucial in order to satisfy the liens for priority pledgee. This happens for example when, the debt of the mortgagee is due rather, for as a first priority mortgage lender. In this case, the backup transferred encumbered by a lien priority mortgage lien creditor and other creditors, who are crucial in order to satisfy the liens before the pledgee, who carried out their pledge and transferred advances. Pledgee executing lien purchaser is obliged to inform the backup, that the subject of the transition is burdened by a lien lien creditors, who are before him in order to satisfy critical liens. Acquirer backup becomes pledge.

The pledge pledgee, which is crucial in order to satisfy liens for priority pledgee may not be beneficial for either of the mortgagee, because if the pledgee preferred due its claim secured by a lien, is authorized to settle the claim from the proceeds of the auction, who won the pledgee executing lien. Priority pledgee may also suspend the implementation of lien, carried out by the pledgee crucial in order to satisfy liens for him, if they do so during the course of 30 day period, from the date of service of the notice of initiation of the exercise of lien. For the above reasons, in practice lien performs frequently as a first priority mortgage lender.

It would seem, the pledgee, who are crucial in order to satisfy liens for priority pledgee, not remain other reasonable alternative but to wait for it, whether it will be possible to settle their claim on the balance of the proceeds of the auction deposit, which implemented or will implement priority pledgee, but it's not quite so. Legislature in § 151 mA paragraph. 10 Civil Code created the possibility, which gives rise pledgee crucial in order to satisfy liens for priority pledgee while no threat to the status of priority mortgage lender. This provision allows the pledgee, which is not a first priority mortgage lender, that you "bought" instead mortgagee executing a lien before it. Pledgee, who pays lien secured claims mortgagee (with high probability priority mortgage lender), that this claim satisfies execution lien, shall enjoy all the rights, mortgagee, whose claims paid, primarily acquires its crucial position in order to satisfy the liens. It is also important to highlight the fact, the pledgee is executing lien repayment of the debt pledgee, which is crucial in order to satisfy liens for him, obliged to accept.