The pledge of property is a real security. It means that the creditor, in case of non-respect of the due benefits, can be reimbursed with the pledge. How do you establish this type of guarantee?
Those are the properties registered in the land register: the funds, the distinct and permanent rights on the properties (surface right, spring right), the mines and the share of co-ownership of a property.
The pledge of property is evaluated via its intrinsic value and its market value. The intrinsic value indicates the value of the property at the moment of the pledge. It corresponds exactly at the new value of the property including the depreciation of the property. The market value is the rental value of the property.
It's possible only in the form of a mortgage, a mortgage note or an annuity letter. It's very different from the mortgage credit. Here, the value of a property is used as a guarantee to obtain a credit.
The pledge of property guarantees the creditor the debt obligation, the costs of proceedings and the rates of three years at the opening of the bankruptcy.
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