Key Benefits:
President of the Republic,
On the report of the Prime Minister and the Minister of Justice, Minister of Justice,
Given the Constitution, including its Section 38;
Given the Civil Code;
Due to the Insurance Code;
Due to the Code of Commerce;
Given the Consumer Code;
Due to the Currency and Financial Code;
Due to the Penal Code;
Due to the Act of June 1, 1924, as amended Effective French civil law in the departments of Bas-Rhin, Haut-Rhin and Moselle;
Given Law No. 89-462 of 6 July 1989 amended to improve rental reports and amending Act No. 86-1290 of 23 December 1986;
In view of Law No. 2005-842 of 26 July 2005 on confidence and modernisation of the economy, in particular Article 24;
In light of Decree No. 53-968 of 30 September 1953 on the credit sale of motor vehicles, as amended By Decree No. 55-655 of 20 May 1955 and by Act No. 57-888 of 2 August 1957;
In the opinion of the Advisory Committee on Financial Legislation and Regulations dated 20 February 2006;
The Council of State heard;
The Council of the Ministers of course,
Orgives:
I. -Book IV of the Civil Code becomes Book V. It includes sections 2489 to 2534, which reproduce respectively sections 2284 to 2328.
II. -Book IV of the Civil Code is entitled: Security rights ". It shall be drawn up in accordance with the provisions of this Title.
Book IV includes:
I. Articles 2284 to 2287.
II. -An Ier title entitled: Personal security ". It includes items 2288 to 2322.
III. -A Title II entitled: Security rights ". It includes items 2323 to 2488.
I. -Articles 2092 and 2093 Become respectively sections 2284 and 2285.
II. Article 2286 reads as follows:
" Art. 2286. -Can claim a lien on the thing:
" 1 ° The one to whom the thing was delivered until the payment of the debt;
" 2 ° The person whose unpaid claim is the result of the contract which obliges him to deliver it;
" 3 ° One of whom Unpaid claim was born on the occasion of the holding of the thing.
" The right of retention is lost through voluntary divestiture. "
III. Article 2287 reads as follows:
" Art. 2287. -The provisions of this book shall not preclude the application of the rules provided for in the case of commencement of a procedure for the protection, judicial reorganization or judicial liquidation, or in the case of commencement of proceedings of Handling of individual debt situations.
Title I of Book IV Includes:
I.-Item 2287-1 written:
" Art. 2287-1. -Personal security rights governed by this Title shall be the guarantee, the stand alone guarantee and the letter of intent. "
II. -An Ier chapter entitled: Surety ". It consists of four sections.
III. -A Chapter II entitled: Of the stand alone guarantee ". It includes section 2321.
IV. -A Chapter III entitled: Letter of Intent." It includes item 2322.
In Chapter I of Title I Book IV:
I.-Section 1 is entitled: The nature and extent of the bond ". It includes the Articles 2011 to 2020, which become Articles 2288 to 2297
. -Section 2 is entitled: The effect of the bond ". It has three subsections:
a) Subsection 1 is entitled: " The effect of the bond between the creditor and the surety ". It includes Articles 2021 to 2027 which, respectively, become Articles 2298 to 2304;
(b) Subsection 2 is entitled: The effect of the bond between the debtor and the surety ". It includes Articles 2028 to 2032 which, respectively, become Articles 2305 to 2309;
(c) Subsection 3 is entitled: The effect of the bond between the cofideers ". It includes section 2033, which becomes section 2310.
III. -Section 3 is entitled: From the termination of the bond ". It includes Articles 2034 to 2039 which become respectively Articles 2311 to 2316.
IV. -Section 4 is entitled: Legal deposit and judicial bail ". It includes items 2040 to 2043, which become items 2317 to 2320
Article 2321 reads as follows:
" Art. 2321. -The autonomous guarantee is the undertaking by which the guarantor is obliged, in consideration of an obligation entered into by a third party, to pay an amount either at first request or on agreed terms.
" The guarantor is not kept in case Clear abuse or fraud of the recipient or collusion with the payer.
" The guarantor shall not oppose any exception relating to the secured obligation.
" Unless otherwise agreed, this security right does not follow the obligation Warranty.
Article 2322 is thus drafted :
" Art. 2322. -The letter of intent is the undertaking to do or not to do the support given to a debtor in the performance of its obligation to its creditor.
Title II of Book IV Includes:
I.-An Ier subtitle titled: " General provisions ". It includes sections 2094 to 2099 that become sections 2323 to 2328 respectively.
II. -A subtitle II entitled: Security rights in furniture." It includes items 2329 to 2372.
III. -A subtitle III entitled: Security rights in immovable property ". It includes items 2373 to 2488.
I. -Title II of Title II of Book IV contains:
(a) Article 2329;
(b) Chapter I entitled: Movable privileges ". It includes Article 2100, which becomes Article 2330 and three sections that follow it;
-Section 1 is entitled: General privileges ". It includes section 2101, which becomes section 2331;
-section 2 is entitled: " Special privileges ". It includes Article 2102, which becomes Article 2332;
-Section 3 is entitled: Classification of privileges ". It includes items 2332-1 to 2332-3 thus written:
" Art. 2332-1. -Unless otherwise provided, special privileges override general privileges.
" Art. 23-23. -General privileges are exercised in the order of Article 2331, except for the privilege of the public treasury, whose rank is determined by the laws relating to it, and the privilege of the social security funds, which comes to the same rank That employees privilege.
" Art. 2332-3. -The special privileges of the building lessor, the curator and the furniture vendor are in the following order:
" 1 ° The privilege of the curator, when the conservation costs are after the birth of the others Privileges;
" 2 ° The privilege of the landlord, who did not know the other privileges;
" 3 ° The privilege of the curator, when the conservation costs are prior to the birth of the other privileges;
" 4 ° Furniture vendor privilege;
" 5 ° The lien of the landlord, who knew the existence of the other privileges.
" Between the conservatives of the same piece of furniture, preference is given to the most recent. Between vendors of the same furniture, it is given to the oldest.
" For the purposes of the above rules, the privilege of the hotel operator is treated as a lien of the lessor of immovable property; the privilege of the worker employed by a worker at Domicile is the privilege of the furniture vendor. " ;
(c) A Chapter II entitled: The pledge of tangible furniture ". It consists of three sections;
(d) A Chapter III entitled: The pledge of intangible personal furniture ". It includes sections 2355 to 2366;
e) A Chapter IV entitled: Of the property retained as security ". It includes items 2367 to 2372.
Section 2329 reads as follows:
" Art. 2329. -Security rights in furniture are:
" 1 ° Movable privileges;
" 2 ° The pledge of tangible furniture;
" 3 ° The pledging of intangible furniture;
" 4 ° The property retained as security. "
I. -Section 1 of Chapter II of the Subtitle II of Title II of Book IV is entitled: From the common law of the pledge ". It includes items 2333 to 2350 written as follows:
" Art. 2333. -The pledge is a convention by which the grantor grants a creditor the right to be paid by preference to other creditors on a movable property or a set of tangible, present or future movable property.
" The Secured claims may be present or future; in the latter case, they must be determinable.
" Art. 2334. -The pledge may be granted by the debtor or by a third party; in the latter case, the creditor only has action on the affected property as security.
" Art. 2335. -The guarantee of the thing of others is null. It may give rise to damages when the creditor has ignored that the thing was for others.
" Art. 2336. -The pledge is perfect by the establishment of a letter containing the designation of the guaranteed debt, the quantity of the pledged assets and their kind or nature.
" Art. 2337. -The pledge is enforceable against third parties by the advertising that is made of it.
" It is also done by the dispossession in the hands of the creditor or an agreed third party of the object.
" When the pledge has been regularly published, the Of the grantor may not avail itself of section 2279.
" Art. 2338. -The pledge shall be published by registration on a special register, the details of which shall be settled by decree in the Council of
. Art. 2339. -The grantor may require the cancellation of the registration or return of the property only after fully paying the secured debt in principal, interest and expense.
" Art. 2340. -Where the same property is the subject of successive pledges without dispossession, the rank of the creditors shall be settled by the order of their
. Where a pledged asset without dispossession is subsequently pledged with File, the right of preference of the earlier secured creditor is enforceable against the post-mortgagee when it is regularly published notwithstanding the right of
of the latter. Art. 2341. -When the possessary pledge is for fungible things, the creditor must keep them separate from things of the same nature that belong to it. Failing that, the grantor may rely on the provisions of the first paragraph of Article 2344.
" If the agreement exempts the creditor from that obligation, it acquires ownership of the dependent things to return the same quantity of things Equivalent.
" Art. 2342. -Where the non-possessary pledge is for fungible things, the grantor may alienate them if the agreement provides for them to replace them with the same amount of equivalent.
" Art. 2343. -The grantor must reimburse the agreed creditor or third party for the necessary or necessary expenses incurred by the grantor for the retention of the pledge.
" Art. 2344. -Where the pledge is made with dispossession, the grantor may claim restitution of the property, without prejudice to damages, if the agreed creditor or third party fails to fulfil its obligation to preserve the pledge.
" Where the pledge is made without dispossession, the creditor may avail himself of the forfeiture of the term of the secured debt or request a supplementary pledge if the grantor does not meet its obligation to keep the pledge.
" Art. 2345. -Unless otherwise agreed, where the owner of the property is the creditor of the secured debt, he shall collect the fruits of that property and charge them on interest or, failing that, on the capital of the debt.
" Art. 2346. -In the absence of payment of the secured debt, the creditor may order the sale of the property to be ordered in court. This sale shall take place in accordance with the procedures laid down in the civil enforcement procedures without the guarantee agreement derogating from it.
" Art. 2347. -The creditor may also order in court that the property will remain in payment.
Where the value of the property exceeds the amount of the secured debt, the amount equal to the difference shall be paid to the debtor or, if there are other Gagor creditors, is logged.
" Art. 2348. -It may be agreed, at the time of the pledge or later, that in the absence of the performance of the secured obligation the creditor will become the owner of the property.
" The value of the property is determined on the day of transfer by an expert In the absence of an official listing of the property on a market organised within the meaning of the monetary and financial code. Any contrary clause is deemed not to be written.
" Where this value exceeds the amount of the secured debt, the amount equal to the difference shall be paid to the debtor or, if there are other secured creditors, shall be
. Art. 2349. -The pledge is indivisible notwithstanding the divisibility of the debt between the heirs of the debtor or the heirs of the creditor
The heir of the debtor who has paid his portion of the debt cannot claim the return of his portion in the pledge as long as The debt is not fully paid.
" Conversely, the creditor's heir, who has received his portion of the debt, cannot deliver the pledge to the detriment of those of its non-paid coals.
" Art. 2350. -The deposit or deposit of sums, effects or values, ordered judicially as a guarantee or as a conservatory, shall entail special assignment and right of preference within the meaning of Article 2333. "
II. -Section 2 of the same chapter is entitled: From the pledge of a motor vehicle ". It includes Articles 2351 to 2353 written as follows:
" Art. 2351. -When it relates to a motor vehicle or a registered trailer, the pledge shall be effective against third parties by the declaration made to the administrative authority under the conditions laid down by decree in the Council of
. Art. 2352. -By the issuance of the receipt of the return, the secured creditor will be deemed to have retained the pledged property in its possession.
" Art. 2353. -The performance of the pledge shall be subject, whatever the quality of the debtor, to the rules laid down in Articles 2346 to 2348. "
III. -Section 3 of the same chapter is entitled: Common provisions ". It includes Article 2354 as follows:
" Art. 2354. -The provisions of this Chapter shall not preclude the application of the special rules provided for in the commercial field or in favour of authorized collateral lending institutions.
Articles 2355 to 2366 read as follows:
" Art. 2355. -Collateral is the assignment, as a guarantee of an obligation, of intangible personal property or of intangible personal property, present or future.
" It is conventional or judicial.
" Judicial collateral is governed By the provisions applicable to civil enforcement
. The treaty settlement on receivables is governed, in the absence of special provisions, by this Chapter.
" The one on other furniture Shall be subject, in the absence of special provisions, to the rules for the pledging of tangible furniture.
" Art. 2356. -on pain of invalidity, the pledge of debt shall be entered into in
. Secured and secured claims are designated in the act.
" If they are future, the act must enable them to be individualised or contain Items such as the indication of the debtor, the place of payment, the amount of the claims or their assessment and, if applicable, their maturity.
" Art. 2357. -Where the pledge is for a future claim, the nanti creditor acquires a right in the receivable as soon as it is born.
" Art. 2358. -The debt pledge may be constituted for a specified time.
" It may relate to a portion of a debt, unless it is indivisible.
" Art. 2359. -The pledge extends to the accessories of the debt unless the parties agree otherwise.
" Art. 2360. -Where the pledge relates to an account, the nantie claim shall mean the credit balance, provisional or final, on the day of the realization of the security, subject to the regularisation of the transactions in progress, as provided for in the Civil enforcement procedures.
" Subject to that same reservation, in the case of the opening of a safeguard procedure, judicial reorganization, judicial liquidation or a procedure for dealing with situations of over-indebtedness of individuals Against the grantor, the rights of the nanti creditor relate to the balance of the account at the date of the opening judgment.
" Art. 2361. -The pledging of a debt, whether present or future, takes effect between the parties and becomes effective against third parties at the date of the act
Art. 2362. -To be enforceable against the debtor of the debt obligation, the debt pledge must be notified to the debtor or the debtor must intervene in the act.
" Failing that, only the grantor receives validly payment of the receivable.
" Art. 2363. -After notification, only the nanti creditor receives validly payment of the given amount as collateral of both capital and interest.
" Each of the creditors, the other duly called, can continue the execution.
" Art. 2364. -The amounts paid in respect of the Nantie claim shall be charged against the secured claim when it has
. In the opposite case, the secured creditor shall retain them as security on an account opened with an establishment entitled to To receive them for the purpose of returning them if the obligation guaranteed is fulfilled. In the event of default of the debtor of the debt obligation and eight days after a notice has remained without effect, the creditor shall allocate the funds to the repayment of its claim within the limit of the unpaid amounts.
" Art. 2365. -In the event of a bankruptcy of the debtor, the creditor may be granted, by the judge or under the conditions laid down by the agreement, the secured claim and all the rights attaching
. It can Also wait for the maturity of the nantie claim.
" Art. 2366. -If it has been paid to the creditor nanti a sum greater than the secured debt, it owes the difference to the grantor.
Articles 2367 to 2372 read as follows:
" Art. 2367. -The ownership of a property may be retained as a guarantee by the effect of a retention-of-title clause which suspends the translational effect of a contract until the full payment of the obligation constitutes consideration.
" The property so Reserved is the accessory of the debt that it guarantees the payment.
" Art. 2368. -The property reservation is agreed in writing.
" Art. 2369. -The reserved property of a fungible good may be exercised, to the extent of the claim remaining due, on goods of the same nature and quality held by or on behalf of the
. Art. 2370. -The inclusion of a piece of furniture subject to a reservation of ownership to another property does not constitute an obstacle to the rights of the creditor when such property can be separated without suffering
. Art. 2371. -Failing full payment at maturity, the creditor may request the return of the property in order to recover the right to dispose of it.
" The value of the trade-in is charged, as a payment, on the balance of the secured claim.
" Where the value of the trade-in exceeds the amount of the secured debt still payable, the creditor shall owe the debtor an amount equal to the difference.
" Art. 2372. -The right of ownership refers to the debtor's claim in respect of the sub-buyer or the insurance indemnity subrogated to the property.
Subtitle III of Title II of Book IV includes:
1 ° Article 2373;
2 ° Chapter I Titled: " Real Estate Privileges." It consists of three sections:
I.-Section 1 is entitled: Special privileges ". It includes section 2103, which becomes section 2374; and
II. -Section 2 is entitled: General privileges ". It includes Articles 2104 and 2105 which become Articles 2375 and 2376 respectively;
III. -Section 3 is entitled: Where privileges are to be registered ". It includes Articles 2106 to 2113 which, respectively, become Articles 2377 to 2386;
3 ° A Chapter II entitled: Antichresis ". It includes Articles 2387 to 2392;
4 ° A Chapter III entitled: Mortgages ". It is divided into five sections:
I.-Section 1 is entitled: General provisions ". It includes sections 2114 to 2120, which become sections 2393 to 2399;
II. -Section 2 is entitled: Legal mortgages ". It has three subsections:
a) Subsection 1 is entitled: " General provisions ". It includes Articles 2121 and 2122 which become Articles 2400 and 2401 respectively;
(b) Subsection 2 is entitled: Special rules for the legal mortgage of the spouses ". It includes Articles 2136 to 2142 which, respectively, become Articles 2402 to 2408;
(c) Subsection 3 is entitled: Special rules for the legal mortgage of persons in guardianship ". It includes the 2145 sections that become sections 2409 to 2411;
III. -Section 3 is entitled: Judicial mortgages ". It includes section 2123, which becomes section 2412; and
IV. -Section 4 is entitled: Conventional mortgages ". It includes:
-sections 2124 to 2129, which become respectively sections 2413 to 2418;
-sections 2419 to 2424;
V.-Section 5 is entitled: " The ranking of mortgages ". It includes Article 2134, which becomes Article 2425;
5 ° A Chapter IV entitled: The registration of privileges and mortgages ". It has three sections:
I.-Section 1 is titled: " The method of registration of privileges and mortgages ". It includes Articles 2146 to 2156, which become respectively Articles 2426 to 2439;
II. -Section 2 is entitled: Deregistration and reduction of entries ". It consists of two subsections:
a) Subsection 1 is entitled: " General provisions ". It includes Articles 2157 to 2162 which, respectively, become Articles 2440 to 2445;
(b) Subsection 2 is entitled: Special provisions relating to mortgages of spouses and guardianship ". It includes sections 2163 to 2165 which become respectively sections 2446 to 2448.
III. -Section 3 is entitled: Advertising of the registers and the responsibility of the curators ". It includes Articles 2196 to 2203-1 which, respectively, become Articles 2449 to 2457;
6 ° A Chapter V entitled: The effect of privileges and mortgages ". It has two sections:
I.-Section 1 is titled: " Provisions specific to conventional mortgages ". It includes sections 2458 to 2460;
II. -Section 2 is entitled: General provisions ". It includes Articles 2166 to 2179 which become respectively Articles 2461 to 2474;
7 ° A Chapter VI entitled: The Purge of Privileges and Mortgages ". It has two sections:
I.-Section 1 is titled: " Provisions specific to conventional mortgages ". It includes section 2475;
II. -Section 2 is entitled: General provisions ". It includes Articles 2181 to 2192 which, respectively, become Articles 2476 to 2487.
8 ° A Chapter VII entitled: From the extinction of privileges and mortgages ". It includes Article 2180 which becomes Article 2488.
Article 2373 reads as follows:
" Art. 2373. -Security rights in immovable property are liens, antichresis and mortgages.
" The property of the building may also be retained as security. "
Articles 2387 to 2392 read as follows:
" Art. 2387. -The antichresis is the assignment of a building as a guarantee of an obligation; it takes away the dispossession of the person who constitutes
. Art. 2388. -Provisions relating to the conventional mortgage provided for in the last paragraph of article 2397 and sections 2413, 2414, 2416, 2417 and 2421 are applicable to the antichresis.
" The provisions relating to the effects of The mortgage under sections 2458 to 2460.
" Art. 2389. -Creditor collects the fruits of the building affected as a guarantee to charge them on the interest, if any, and subsidiarily on the capital of the debt.
" It shall be required, on pain of lapse, to provide for conservation and The maintenance of the building and may use the fruit collected before it is charged to the debt. It may at any time evade this obligation by returning the property to its owner.
" Art. 2390. -The creditor may, without loss of possession, give the building to a lease, either to a third party or to the debtor himself.
" Art. 2391. -The debtor cannot claim the return of the building before the full payment of its debt
Art. 2392. -The rights of the anti-chresist creditor are extinguished in particular:
" 1 ° By extinguishing the primary obligation;
" 2 ° With the early return of the building to its owner. "
The following paragraph is added to the item:
" The mortgage extends to improvements that occur in The building. "
The last paragraph of Article 2414 is replaced by two paragraphs thus written:
" The mortgage of a building Indivis shall retain its effect regardless of the outcome of the division if it has been granted by all the persons concerned. Otherwise, it shall retain its effect only to the extent that the person who consented to it is, at the time of the sharing, alloti of the undivided immovable or, where the immovable is lawful to a third party, if that interest is alloted from the price of the Licitation.
" The mortgage of a share in one or more undivided buildings retains its effect only to the extent that the holder who consented to it is, at the time of the division, alloted from the undivided immovable property; it then retains it in To the extent that this allotment is not limited to the quota which belonged to the interest of the person who granted it; where the immovable is lawful to a third party, it shall also preserve it if that interest is alloted from the price of the licence. "
Article 2416 reads as follows:
" Art. 2416. -The conventional mortgage may be granted only by notarial deed. "
Articles 2419 to 2424 read as follows:
" Art. 2419. -The mortgage may in principle be granted only on buildings present.
" Art. 2420. -With the exception of the preceding article, the mortgage may be granted on future buildings in the following cases and conditions:
" 1 ° A person who does not possess, or does not possess, any buildings present and free For the security of the receivable may consent that each of those acquired subsequently will be allocated to the payment of the debt as they are acquired;
" 2. The person whose immovable property subject to the mortgage has died or has been subjected to Damage as it has become insufficient for the security of the debt may likewise, without prejudice to the right of the creditor to continue its repayment now;
" 3 ° The one who has a current right to Building on the funds of others may mortgage the buildings that have been started or simply projected; in the event of the destruction of the buildings, the mortgage is deferred in full on the newly constructed buildings To the same location.
" Art. 2421. -The mortgage may be granted for the security of one or more claims, present or future. If they are future, they must be determinable.
" The cause is determined in the act.
" Art. 2422. -The mortgage may subsequently be assigned to the guarantee of claims other than those mentioned by the constituent instrument provided that it expressly provides for it.
" The grantor can then offer it as security, within the limits of the Sum provided for in the Constitution and referred to in Article 2423, not only to the originating creditor but also to a new creditor that the first creditor was not paid.
" The reload agreement it passes, either with the Originating creditor, or with the new creditor, has the notarized form.
" It shall be published, in the form provided for in Article 2430, only against third parties.
" Its publication determines, among themselves, the ranking of registered creditors On the rechargeable mortgage.
" The provisions of this Article shall be of a public order and any clause contrary to them shall be deemed not to be written
Art. 2423. -The mortgage is always granted, for the capital, up to a fixed sum that the notarial deed mentions as a penalty of invalidity. In this case, the parties shall assess the undetermined, contingent or conditional annuities, benefits and rights for this purpose. If the debt is accompanied by a revaluation clause, the guarantee shall extend to the reassessed claim, provided the act mentions it.
" The mortgage extends from right to interest and other accessories.
" Where it is granted for Security of one or more future claims and for an indefinite period, the grantor may at any time terminate it except for three months' notice. Once terminated, it remains for the security of previously-born claims.
" Art. 2424. -The mortgage is transmitted in full with the secured claim. The mortgagee can subclaim another creditor in the mortgage and retain its claim.
" It may also, by an assignment of prior art, assign its place of registration to a post-ranking creditor of which it takes its place. "
The following paragraph is inserted after the fourth paragraph of Article 2425:
" The registration of a A protective judicial mortgage is deemed to be of a rank earlier than that conferred on the reload agreement where the advertising of that Convention is later than the registration of the protective judicial mortgage. "
The last paragraph of Article 2427 is replaced by two paragraphs thus written:
" In case of property seizure or Procedure for the protection, judicial reorganization or judicial liquidation or in the event of a procedure for dealing with situations of indebtedness of individuals, the recording of privileges and mortgages shall produce the effects The provisions of the Code of Civil Procedure and those of Titles II, III or IV of the sixth book of the trade
. In the departments of the Bas-Rhin, the Haut-Rhin and the Moselle, in the case of forced execution, the registration of the Privileges and mortgages produced the effects regulated by the provisions of the Act of 1 June 1924. "
In Article 2428:
I.-The eighth paragraph is thus written:
" 3 ° indication of the date and nature of the Title giving rise to the security or title giving rise to the debt and the cause of the obligation secured by the lien or mortgage and, where applicable, the express reference to the reloading clause in Article 2422. In the case of a notarized title, the name and residence of the writer are specified. For the entries required pursuant to the provisions of Article 2383 and the 1 ° to 3 ° of Article 2400, the statements shall set out the cause and nature of the claim; ".
II. -In the ninth paragraph, the reference to Articles 2161 and following is replaced by the reference to Articles 2444 and 2445 and the last sentence reads as follows: ' Where the amount of the debt is not denominated in euro, the immediate indication of its Value in euro shall be determined on the basis of the last exchange rate known at the date of the title of the security or claim; ".
After the second paragraph of Article 2430, insert a paragraph reading:
" The conventions which are to be published in accordance with Article 2422 shall be published in the same form. "
Paragraph 2432 is added to read as follows:
" However, the creditor has the right to be colloqued for All interest, in the same rank as the principal, when the mortgage has been granted as security for the life loan as defined in Article L. 314-1 of the Consumer Code. "
Section 2434 reads as follows:
" Art. 2434. -The registration shall retain the lien or mortgage until the date fixed by the creditor in accordance with the following
. If the principal of the secured obligation is to be paid on one or more specified dates, the Extreme effect of registration taken before the due date or due date is, at most, later than one year at that time, without however the duration of the registration may exceed fifty years.
" If the deadline or The last term is indeterminate, in particular in the case provided for in Article L. 314-1 of the Consumer Code, or if the mortgage is accompanied by a reloading clause provided for in Article 2422, the duration of the registration shall be more than 50 Years on formality day.
" If the term or the last term is earlier than or concurrent with the registration, the duration of the registration shall be more than ten years on the day of the formality
Where security guarantees several claims And that these are such that several of the three preceding paragraphs are applicable, the creditor may require either, for each of them, separate entries, that is, a single entry for the whole up to the farthest date. Similarly, where the first of these three paragraphs is the only one applicable, the different claims do not have the same deadlines or maturity dates. "
Section 2436 reads as follows:
" Art. 2436. -If one of the time limits provided for in Articles 2434 and 2435 has not been complied with, the registration shall have no effect beyond the date of expiry of that period. "
Paragraph 2440 is added to read as follows:
" The cancellation is required by the creditor who did not The publication, in the form of a margin reference, provided for in the fourth paragraph of Article 2422. "
Paragraph 2441 is added to read as follows:
" Where the cancellation relates to the recordal of a Conventional mortgage, it may be required by the deposit in the registrar's office of an authentic copy of the notarized deed certifying that the creditor has, at the request of the debtor, given its agreement to that cancellation; the control of the curator Is limited to the formal regularity of the act to the exclusion of its validity on the merits. "
Articles 2458 to 2460 read as follows:
" Art. 2458. -Unless it continues the sale of the mortgaged property in accordance with the provisions of the civil enforcement procedures, to which the mortgage agreement may not derogate, the unpaid mortgagee may request in The building remains in payment. However, this option is not available if the building is the principal residence of the debtor.
" Art. 2459. -It may be agreed in the mortgage agreement that the mortgagee will become the owner of the mortgaged property. However, this clause has no effect on the building that constitutes the principal residence of the debtor.
" Art. 2460. -In the cases provided for in the two preceding Articles, the building shall be deemed by an expert appointed amicably or judicially.
" If its value exceeds the amount of the secured debt, the creditor shall owe the debtor an amount equal to Difference; if there are other mortgage creditors, it will be recorded. "
Section 2475 reads as follows:
" Art. 2475. -Where, on the occasion of the sale of a mortgaged property, all registered creditors agree with the debtor that the price will be affected by the total or partial payment of their claims or some of them, they shall exercise their right Price preference and may be opposed to any assignee such as any creditor with respect to the price claim.
" Because of this payment, the building is purged from the resale right attached to the mortgage.
" Failing agreement Shall be carried out in accordance with the following articles. "
I. -Article 2478 reads as follows:
" 3 ° A summary mortgage on formalities Show the actual loads that complete the building. "
II. -It is inserted in Article 2479, after the words: ", the words:" Or, if he has received the building by way of donation, the value he has declared. "
III. -In Article 2480, the words: Adding two days to five myriameters of distance between the elected domicile and the actual domicile of each requesting creditor " Are deleted.
Section 2488 is modified as follows:
I.-The 1 ° is supplemented by the words: " Subject to the circumstances described in section 2422; ".
II. -The 2 ° is supplemented by the words: " On the same reserve; ".
III. -After the eighth paragraph, it is added a 5 ° so written:
" 5 ° By the termination permitted by the last paragraph of Article 2423 and to the extent provided for in that text. "
The Consumer Code is modified in accordance with the provisions of this Title.
The I of Article L. 141-1 is supplemented by two sub-paragraphs:
" 10 ° Section 6: " Mortgage credit secured by a mortgage Rechargeable chapter III: "Common provisions of Title I of Book III;
" Section 7: "Sanctions of Chapter IV entitled" Loan viager mortgage of Title I of Book III. "
Article L. 311-3 reads as follows:" Except for mortgages ".
It is added to article L. 311-32 as follows:
" In the event of a failure of the borrower, only the Realization of the pledge authorized by Articles 2346 and 2347 of the Civil Code shall be open to the secured creditors, except for the commissoire pact provided for in Article 2348, which shall be deemed not to be written. "
I. -Chapter III of Title I of Book III is entitled: Provisions common to Chapters I and II ".
II. -Section 2 of this chapter is entitled: Personal security ".
It is inserted in section 2 of Chapter III Of Title I of Book III a Article L. 313-10-1 worded as follows:
" Art. L. 313-10-1. -The autonomous guarantee laid down in Article 2321 of the Civil Code may not be entered into on the occasion of a credit under Chapters I and II of this Title. "
In Chapter III of Title I of Book III, a section 6 entitled: Credit secured by a mortgage Rechargeable ". It includes Articles L. 313-14 to L. 313-14-2 thus written:
" Art. L. 313-14. -The provisions of this Section shall apply to credit operations granted on a regular basis by any natural or legal person covered by either the provisions of Chapter I relating to consumer credit or the provisions of the Chapter II relating to the housing credit of this Title and guarantees by a rechargeable mortgage within the meaning of Article 2422 of the Civil
. The operations referred to in Article L. 311-9 shall not give rise to a credit guaranteed by a Rechargeable mortgage.
" Art. L. 313-14-1. -A document entitled "mortgage status of which a copy is given to the borrower under the same conditions as the credit agreement itself.
" shall be annexed to the advance credit offer. This document has:
" 1 ° The mention of the duration Mortgage registration;
" 2 ° The identification of the immovable property, subject to the guarantee, and its estimated value at the date of the mortgage agreement;
" 3 ° The maximum guaranteed amount provided for in the constitutive agreement Mortgage;
" 4 ° The amount of the initial loan subscribed;
" 5 ° Where applicable, the amount of the loan (s) subsequently subscribed;
" 6 ° An assessment by the lender of the cost of recharging the mortgage New credits;
" 7 ° An evaluation by the lender of the total mortgage cost;
" 8 ° The statement that, without prejudice to the application of Articles L. 311-30 and L. 311-32, whether it is a consumer credit, or articles L. 312-22 And L. 312-23, if it is a property credit, the failure of the borrower may result in the sale of the mortgaged property in accordance with the provisions of sections 2464 et seq. Of the Civil Code.
" Art. L. 313-14-2. -The fact for the lender to grant a loan guaranteed by a rechargeable mortgage without seizing the borrower of a prior credit offer accompanied by a document satisfying the conditions laid down in Article L. 313-14-1 shall be punishable by a fine of 3 750 euros.
" In addition, the lender is stripped of the interest and the borrower is only required to repay the capital in accordance with the schedule. The sums received in respect of interest shall be returned by the lender or charged to the remaining capital; they shall be of interest at the legal rate on the day of their payment. "
It is added, in Title I of Book III, after Chapter III, a Chapter IV entitled: Life Loan Mortgage " Writing:
"Chapter IV
" Lending mortgage
" Section 1
"Definition and scope
" Art. L. 314-1. -The mortgage loan is a contract by which a credit institution or a financial institution consents to a natural person a loan in the form of capital or periodic payments, secured by a mortgage on a mortgage Real estate of the borrower for exclusive use of a dwelling and whose principal and interest repayment may be required only upon the death of the borrower or in the alienation or dismemberment of the mortgaged property if they Occur before death.
" Its regime is determined by the provisions of this Chapter.
" Art. L. 314-2. -on pain of nullity, the mortgage loan cannot be used to finance the needs of a professional activity.
"Section 2
" Business Practices
" Art. L. 314-3. -Any advertising made, received or perceived in France which, whatever its medium, relates to a mortgage lending operation defined in Article L. 314-1, is fair and informative.
" As such, it must mention:
" 1 ° Identity The lender, the nature of the proposed transaction, its total cost and the overall effective rate, excluding any other rates, calculated in five-year increments, and the lump-sum perceptions;
" 2 ° The terms of the operation Proposed.
" It reproduces the first two paragraphs of Article L. 314-7.
" Where the advertising is in writing and whatever the medium, the information relating to the nature of the transaction, the conditions for determining the effective rate And, if it is a promotional rate, the period during which this rate applies, must be in a character size at least as important as that used to indicate any other information relating to the characteristics And enroll in the main body of the advertising text.
" Are prohibited in all advertising:
" 1. The statement that a loan can be granted without any information to assess the financial situation and Borrower's heritage;
" 2 ° The indication of the additional resource offered by the loan if it is followed by information on the terms of the operation as provided for in Articles L. 314-13 and L. 314-14.
" Advance credit offering must be separate from any medium or advertising document.
" Art. L. 314-4. Article L. 341-1 of the Monetary and Financial Code.
" Section 3
"The credit agreement
" Art. L. 314-5. -The mortgage loan operation is entered into in the terms of a previous offer with the following particulars:
" 1 ° The identity of the parties and the date of acceptance of the offer;
" 2 ° The exact description of the mortgaged property, Consistent with the requirements of land advertising;
" 3 ° The value of the mortgaged property estimated by an expert chosen by the parties and the costs of the expertise placed on the borrower;
" 4 ° Nature of loan;
" 5 ° Terms of the loan and, in particular, the dates and conditions for making the funds available;
" 6 ° In the case of instalment payments of capital, the schedule of periodic payments distinguishing the share of the capital from that of the accumulated interest On these amounts during the forecast period of the loan and allowing the borrower to know when he or she has exhausted the net assets of his or her home;
" 7 ° Where the capital is paid in one time, a statement of the interest accumulated on those Are during the forecast period of the loan, allowing the borrower to know when he or she has exhausted the net assets of his or her home;
" 8 ° From representative examples based on assumptions relating, in particular, to the duration The loan, the total cost of the credit, the overall effective rate defined in accordance with Article L. 313-1 and, where applicable, the rules for indexing;
" 9 ° The duration of the offer.
" The offer reproduces the provisions of the Articles L. 314-6 to L. 314-9 and L. 314-13.
" Art. L. 314-6. -Remission of the offer obliges the lender to maintain the conditions it contains for a minimum period of 30 days from the date of issue.
" Art. L. 314-7. -If the contract is invalid, acceptance of the offer can only take place ten days after its receipt by the borrower. It is then the subject of a notarized act.
" Until the acceptance of the offer by the borrower, no payment in any form may be made, in respect of the transaction in question, by the lender to the borrower or on behalf of It or the borrower to the lender.
" Until such acceptance, the borrower cannot, on the same basis, make any deposits, subscribe or endorse any commercial effect or sign any cheques. If a bank or postal debit authorization is signed by the borrower, its validity and effect shall be subject to that of the credit agreement.
" Art. L. 314-8. -The borrower must bring all the care of a good family father to the mortgaged property.
" As stated in Article 1 188 of the Civil Code, the debtor can no longer claim the benefit of the term when, by virtue of its fact, it has reduced the value The security he had provided by the contract to his creditor.
" The debtor also loses the benefit of the term when it changes the assignment of the mortgaged property or denies the mortgaged access of the mortgaged property to the creditor. Its maintenance and conservation status.
"Section 4
" Debt-to-debt
" Art. L. 314-9. -The debt of the borrower or his successors in title can never exceed the value of the property appreciated at the end of the
. When the mortgagee puts into play its security at the end of the term, if the debt is then lower The value of the property, the difference between that value and the amount of the debt shall be paid, as the case may be, to the borrower or its heirs.
" In the case of the alienation of the property, the value of the property is equal to the value specified in the act of Assignment subject to the provisions of Article L. 314-14.
"Section 5
" Early Repayment
" Art. L. 314-10. -The borrower may, on his own initiative, terminate the loan agreement that has been awarded to him by redeeming all the sums already paid in principal and interest.
" If the borrower has opted for a capital payment in one It may, on its own initiative, reimburse part of the sums paid. However, the lender may refuse a partial refund less than an amount fixed by decree in the State Council.
" In the case of a refund provided for in the first two paragraphs, the creditor shall be entitled to demand compensation which cannot, without Damage to the application of Article 1152 of the Civil Code, to exceed an amount which, depending on the duration of the contract already carried out, is fixed in accordance with terms and conditions laid down by decree in the Council of
. Art. L. 314-11. -Early repayment may not result in any compensation or cost to the borrower other than those referred to in Article L. 314-10.
" Art. L. 314-12. -The borrower may, in the case of periodic capital payments, request a suspension or a change in the payment schedule. Such arrangements shall be at the conventional rate set out in the main contract and shall result in the preparation of a new statement of the periodic payments and interest accrued on those amounts for the estimated duration of the outstanding loan. The share of capital and interest must be shown separately.
"Section 6
" Operation Term
" Art. L. 314-13. -Upon the death of the borrower or the last living of the co-borrowers, the heirs may pay the capped debt to the value of the building estimated at the date of the opening of the estate. This estimate shall be made as necessary by an expert selected by mutual agreement between the creditor and the borrower or appointed on request.
" Failing and notwithstanding the applicable rules on acceptance under profit Inventory, the mortgagee can choose:
" -to continue the seizure and sale of the building under the conditions of ordinary law, in which case the debt shall be capped at the price of the sale;
" -or be given ownership of The building by judicial decision or under a pact commissoire while it was the principal residence of the borrower.
" The mortgagee has the same option in case of vacant succession.
" Art. L. 314-14. -In the event of the alienation of the property by the borrower or his heirs, the assignment shall be notified to the mortgagee.
" In the event of a dispute by the latter of the value of the building retained in the deed of assignment, the The estimation of the property by an expert selected by mutual agreement between the creditor and the borrower or designated on request.
" If the value of the building is ultimately less than this estimate, then the lender's claim is capped:
" - At the award of the building if the mortgagee makes the seizure and sale of the property under its resale right;
" -the value of the building's expertise if the mortgagee requests the award Judicial of the good or the pact commissoire by its conclusion.
" The provisions of this Article shall also apply to the dismemberment of the mortgaged property.
" Section 7
"Sanctions
" Art. L. 314-15. -The fact for the lender to grant a mortgage loan without seizing the borrower from a prior offer in accordance with Article L. 314-5 or in conditions not in accordance with Articles L. 314-6 and L. 314-7 may result in the right to Interest in whole or in proportion fixed by the judge.
" Art. L. 314-16. -The fact for the lender to grant a mortgage loan without seizing the borrower from a prior offer in accordance with Article L. 314-5 or in conditions not in accordance with Articles L. 314-6 and L. 314-7 shall be subject to a fine of EUR 3 750.
" The same penalty shall apply to the advertiser on whose behalf an advertisement does not comply with the provisions of Article L. 314-3.
" Art. L. 314-17. -The fact for the creditor not to repay the sums due, pursuant to Article L. 314-9, at the end of the term when the debt is less than the value of the building or to claim to the borrower above those of which it is Authorised to apply for payment pursuant to Article L. 314-11 shall be liable to a fine of EUR 30
. Art. L. 314-18. -Non-compliance with the provisions of Article L. 314-4 shall be punishable by five years' imprisonment and a fine of 375 000
. Art. L. 314-19. -Persons guilty of the offence provided for in Article L. 314-18 shall also be liable to the following additional
: 1 ° The prohibition of civil, civil and family rights, as provided for in article 131-26 of the Criminal Code ;
" 2. The prohibition, in accordance with the procedure laid down in Article 131-27 of the Criminal Code, of the exercise of a public service or of carrying out a professional or social activity in the exercise or in which the offence was committed, For a term of up to five years;
" 3 ° The posting or dissemination of the decision, under the conditions laid down in Article 131-35 of the Criminal Code. "
" Section 8
"Application Texts
" Art. L. 314-20. -The arrangements for the application of the provisions of this Chapter shall be laid down by decree in the Council of State. "
The trade code is modified in accordance with the provisions of this Title.
In Chapter VI of Title II of Book V, an article L. 526-5 reads as follows:
" Art. L. 526-5. -The provisions of Articles L. 313-14 to L. 313-14-2 of the Consumer Code shall apply to loans granted to any natural person registered in a register of legal advertising of a professional nature, to any person Carrying on an agricultural or independent professional activity as well as the sole associated manager of a limited liability company, and secured by a rechargeable mortgage on the building where the person concerned has fixed his or her residence Main. "
In Title II of Book V, after Chapter VI, Chapter VII is added as follows:
"Chapter VII
" Inventory pledge
" Art. L. 527-1. -Any credit granted by a credit institution to a legal person governed by private law or to a natural person in the performance of his or her professional activity may be guaranteed by a pledge without dispossession of the stocks held by that person. Person.
" Inventory pledge is made by private act.
" In the absence of a declaration of invalidity, the act constituting the pledge must contain the following particulars:
' 1 ° The name: "Stock pledge;
" 2 ° Designation of the Parts;
" 3 ° The statement that the act is subject to the provisions of Articles L. 527-1 to L. 527-11;
" 4 ° The name of the insurer that guarantees against fire and destruction;
" 5 ° The description of the secured claim;
" 6 ° Description identifying the assets present or future committed, in kind, quality, quantity and value and the indication of the place of their preservation;
" 7 ° Commitment duration.
" The provisions of section 2335 of the Code Civil are applicable.
" A custodian may be designated in the act of pledge.
" Art. L. 527-2. -Deemed not in writing any provision for the creditor to become the owner of the inventory in the event of non-payment of the debt owing by the debtor
Art. L. 527-3. -May be given as a pledge, excluding property subject to a retention-of-title clause, stocks of raw materials and supplies, intermediate, residual and finished goods and goods belonging to the debtor And estimated in kind and value as of last inventory.
" Art. L. 527-4. -The pledge of the stocks shall have effect only if it is entered on a public register held at the Registry of the Court in the jurisdiction of which the debtor has its seat or domicile. The registration shall be taken, on pain of nullity of the pledge, within 15 days of the formation of the constituent
. The ranking of the secured creditors is determined by the date of their registration. Creditors registered on the same day come in competition.
" Art. L. 527-5. -Inventories are, up to the total reimbursement of the sums advanced, the guarantee of the credit
. The creditor's privilege passes from the full right of the disposed stocks to those substituted for them.
" The creditor may, at At any time and at its own expense, record the state of the stocks committed.
" Art. L. 527-6. -The debtor is responsible for the conservation of the stocks in quantity and quality under the conditions laid down in Article 1137 of the Civil
. It justifies stocks being insured against fire and destruction risks.
" Art. L. 527-7. -The debtor shall keep at the disposal of the creditor a statement of the stocks committed and the accounts of all transactions relating to
. It is committed not to reduce the value of inventory.
" When inventory status is in effect Show a decrease of 20 % of their value as mentioned in the instrument of incorporation, the creditor may put the debtor in notice, either to reinstate the guarantee or to reimburse part of the sums lent as a proportion of the decrease Found. If it is not satisfied, the creditor may demand the full refund of the debt, which is considered to have expired.
" Art. L. 527-8. -The parties may agree that the share of committed inventory decreases as a proportion of the creditor's disinterest.
" Art. L. 527-9. -In the event of an early repayment of the debt, the debtor shall not be liable for the remaining interest to
. If the creditor refuses the debtor's offers, the debtor may, in order to be free, record the amount offered.
" Art. L. 527-10. -In the event of non-payment of the receivable, the creditor may continue to carry out the pledge under the conditions laid down in Articles 2346 and 2347 of the Civil
. Art. L. 527-11. -The conditions for applying the provisions of this Chapter shall be laid down by decree in the Council of State. "
The fourth paragraph of Article L. 521-1 reads as follows:
" There is no derogation from the provisions of the Articles 2355 to 2366 of the Civil Code in respect of security claims. "
Section L. 521-3 is thus amended:
I.-The first paragraph reads as follows:
" Failing payment to The due date, the creditor may make the public sale of the donated items eight days after a mere service to the debtor and the third-party pledging, if any, and in accordance with the terms and conditions provided for in this Article, Without the Convention being able to derogate from it. "
II. -The last paragraph reads as follows:
" The creditor may also request the judicial assignment of the pledge or agree on its appropriation in accordance with Articles 2347 and 2348 of the Civil Code. "
In the first paragraph of Article L. 622-7, the following sentence is added:" Finally, it obstrucs the conclusion and To the realisation of a pact commissoire. "
I. -The second and third paragraphs of Article L. 624-16 read as follows:
" Can also be Claimed, if they are in kind at the time of commencement, the goods sold with a retention-of-title clause. This clause must have been agreed upon by the parties in writing at the latest at the time of delivery. It can be in writing governing a set of business transactions agreed between the parties.
" Claim in kind may be exercised under the same conditions on movable property incorporated in another property when the Separation of such property may be made without damage to it. Claim in kind may also be made on fungible goods when goods of the same nature and quality are in the hands of the debtor or any person holding them for his or her account. "
II. -The first sentence of Article L. 624-17 reads as follows:
The administrator with the agreement of the debtor or in the absence of the debtor after agreement by the judicial agent may acquiesce in the claim or in return of a specified property In this section. "
III. -Article L. 624-18 is supplemented by the following sentence:
" Can be claimed under the same conditions the insurance allowance subrogated to the property. "
In 6 ° I of Article L. 632-1, the words:" Or pledge " Are inserted after the words: " Any right to pledge ".
The Civil Code is modified as follows:
I.-In Article 1286, the words: Or " Are inserted after the words: " The given thing ".
II. -Article 1422 is supplemented by a second paragraph as follows: '
' Nor can they, without the other, assign one of these assets to the guarantee of a third party's debt. "
III. -The provisions of Article 2092-3 of the Civil Code shall be inserted in Title XIX of Book III of the Civil Code, Article 2205
-In Article 2508, the reference to Titles XVII, XVIII, XIX of Book III is replaced by the reference to Title XIX of Book III and Title II of Book IV.
Article L. 132-10 of the Insurance Code reads as follows:
" Art. L. 132-10. -The insurance policy may be given as collateral either by endorsement or by endorsement as security, if it is ordered, or by an act subject to the formalities of Articles 2355 to 2366 of the Civil Code. "
The above mentioned Act of June 1, 1924 is hereby amended:
I.-Sections 45-1 are inserted after section 45. 45-4 thus written:
" Art. 45-1. -The agreement for reloading of which a creditor is a beneficiary shall be entered in the land book only as unenforceable against third parties.
" The filing date determines, among themselves, the ranking of the creditors on the rechargeable mortgage.
" Art. 45-2. -The rank of the registered reload agreement is that conferred by the initial registration of the mortgage
Art. 45-3. -The cancellation of the initial registration of the mortgage is required by the creditor who has not made the publication referred to in section 45-1
Art. 45-4. -The registration of a protective judicial mortgage is deemed to be of a rank earlier than that conferred on the reload agreement where the advertising of that Convention is later than the registration of the judicial mortgage Conservatory. "
II. -In the second paragraph of Article 48, the reference to Articles 2161 and following is replaced by the reference to Articles 2444 and 2445.
III. -The first paragraph of Article 64 is supplemented by the following sentence:
" However, the cancellation of a recording of a conventional mortgage may be required by the deposit at the land office of an authentic copy or of the notarial deed Certifying that the creditor has, at the request of the debtor, given its agreement to that cancellation, or a judicial decision. "
IV. -The same article is added to the same article: "
" Detailed rules for the application of this Article shall be laid down by decree in the Council of State. "
It is inserted after Article 22-1 of the Act of 6 July 1989 referred to above as
: Art. 22-1-1. -The autonomous guarantee provided for in Article 2321 of the Civil Code may be taken up only in place of the security deposit provided for in Article 22 and within the limit of the amount resulting from the provisions of the first paragraph of that Article. "
In all existing laws and regulations, the reference to the articles of the civil code that do The object of a new numbering by this order means references to new numbers resulting from this order.
In all existing legislative and regulatory provisions, the reference to the pledge and to the secured creditor is defined as the reference to the pledge and to the secured creditor where the security right is for personal property Intangible. Conversely, the reference to collateral and to the secured creditor refers to the reference to the pledge and to the secured creditor where the security right is for tangible personal property.
Are repealed:
I. Titles XIV, XVII, and XVIII of Book III of the Civil Code.
II. Article L. 521-2 of the Commercial Code.
I. -This order shall apply to Mayotte with the exception of the last Section 22, sections 25, 34 to 41, 43, 52 and 53.
Sections 14 to 21, the first two paragraphs of section 22, sections 23 to 33, the I of section 56 and section 59 of this Order will come into force on January 2008.
II. -This order shall apply in New Caledonia with the exception of the last paragraph of Article 22, Articles 25, 34 to 41, 43, 51, 52 and 53.
Not applicable in New Caledonia the 7 ° of Article 2374 and Articles 2380 and 2384 of the Civil Code.
For their application in New Caledonia, the references made by Articles 2331, 2332 and 2375 of the Civil Code to provisions which are not applicable therein are replaced by references to provisions having the
The provisions of Article 44 shall apply in New Caledonia under the conditions laid down in Title III of Book IX of the Commercial
. -This order is applicable in the Wallis and Futuna Islands with the exception of the last paragraph of Article 22, Articles 14 to 41, 43, 51, 52 and 53.
For their application in the Wallis and Futuna Islands, the references made by the Articles 2331 and 2332 of the Civil Code to provisions which are not applicable therein are replaced by references to provisions having the same applicable object locally.
For its application in the Wallis and Futuna Islands, the second Article 2348 of the Civil Code reads as follows:
" The value of the property shall be determined on the day of the transfer by an expert appointed amicably or judicially. Any contrary clause shall be deemed not to be written. "
The provisions of Article 44 shall apply in the Wallis and Futuna Islands under the conditions set out in Title V of the Commerce Code ninth book.
Sections 2351 to 2353 of the Civil Code, in their wording pursuant to section 11 of this Order, will come into force on a day to be fixed by Order in Council and that Cannot be later than 1 July 2008.
On the date to be fixed, the Decree No. 53-968 of 30 September 1953 on the credit sale of motor vehicles will be repealed.
The provisions of Article 2422 of the Civil Code may apply to the last mortgage previously entered on the date of publication of this Order, provided that a rider provides that the mortgage may be assigned to the guarantee of other claims under the conditions of Article 2422 of the Civil Code and published in the forms provided for in Article 2428 of that
. However unenforceable against creditors who have entered a mortgage before the date of publication of this order and those who made an entry between that date and the registration of the rider.
The Prime Minister, the Minister of Economy, Finance and Industry, and the Minister of Justice, Are responsible, each as far as it is concerned, for the application of this order, which shall be published in the Official Journal of the French Republic.
Done at Paris, March 23, 2006.
Jacques Chirac
By the President of the Republic:
The Prime Minister,
Dominique de Villepin
The Seals Guard, Minister of Justice,
Pascal Clément
Finance and Industry Minister
Thierry Breton
