A pact de non alienando is a legal agreement that prohibits the sale or transfer of property with an existing mortgage or debt. This allows the lender to pursue the property for debt collection without informing the new owner if it is sold.
The term “Pact de non alienando” is a Latin phrase used in civil law to describe an agreement that prohibits the sale or transfer of encumbered property, particularly property that is mortgaged. This agreement grants the mortgagee the ability to take direct action against the mortgaged property without informing the buyer. For instance, if John obtains a mortgage for his house, he may enter into a pact de non alienando with the mortgage lender. This agreement prevents John from selling or transferring ownership of the house without the lender’s consent. In the event that John fails to meet his mortgage obligations, the lender can foreclose on the property without notifying any subsequent buyers. This example demonstrates how a pact de non alienando operates in practice. By agreeing not to sell or transfer the mortgaged property without the lender’s permission, the borrower provides the lender with increased security and control over the property. If the borrower defaults on the mortgage, the lender can foreclose on the property without having to follow the legal process of informing any subsequent buyers.
A Pact De Non Alienando, also known as a non-alienation clause, is a legal provision that restricts the transfer or sale of a property without the consent of a specific party, usually the lender or a co-owner.
A Pact De Non Alienando is commonly included in contracts, such as mortgage agreements or partnership agreements, to protect the interests of a party by preventing the transfer of property without their knowledge or consent.
Yes, a Pact De Non Alienando can be enforced if it is properly drafted and included in a legally binding contract. However, enforcement may vary depending on the jurisdiction and specific circumstances.
In some cases, a Pact De Non Alienando can be waived or modified if all parties involved agree to the changes and formalize them through a written agreement. However, it is important to consult with legal professionals to ensure the validity and enforceability of any modifications.
If a property is transferred in violation of a Pact De Non Alienando, the affected party may have legal remedies available, such as seeking an injunction to prevent the transfer or pursuing damages for breach of contract.
Yes, a Pact De Non Alienando can be challenged in court if there are valid grounds to do so, such as if the provision is deemed unreasonable or unconscionable. However, the outcome will depend on the specific circumstances and the jurisdiction’s laws.
There may be exceptions to a Pact De Non Alienando depending on the terms of the contract and applicable laws. For example, some jurisdictions may allow transfers without consent in cases of foreclosure or eminent domain.
The duration of a Pact De Non Alienando can vary depending on the terms agreed upon in the contract. It may be for a specific period, until certain conditions are met, or for the duration of the contract itself.
In some cases, a Pact De Non Alienando may be transferred to a new owner if it is explicitly stated in the contract or if the new owner agrees to assume the obligations and restrictions of the original agreement. However, this would require the consent of all parties involved.
A Pact De Non Alienando can be included in various types of contracts, such as mortgage agreements, partnership agreements, or property co-ownership agreements. However, its inclusion and enforceability may depend on the specific laws and regulations of the jurisdiction.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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