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  • Cancellation of Real Estate Mortgage

    Cancel an existing mortgage over immovable property (i.e. house, land)

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    A Cancellation of Real Estate Mortgage is a creditor’s (the “mortgagee”) declaration cancelling the real estate mortgage executed in his favor by the debtor (the “mortgagor”) over certain immovable property.  Generally immovable property is defined as follows:

    • Immovable by nature or those which cannot be moved from one place (i.e. land, roads).
    • Immovable by incorporation or those which are attached to an immovable in a fixed manner as to form an integral part thereof.  Examples are buildings, walls, fences, trees, statues, animal houses, machinery installed in a building to meet the needs of an industry in the building and docks on a river.
    • Immovable by destination or those which are placed in an immovable for the use of such immovable. (i.e. machinery in a factory).
    • Immovable by analogy or those which are considered immovable by operation of law because it is regarded as united to the property.

    Once the mortgage is cancelled the property is no longer considered as security for the debt and the mortgagee cannot foreclose the property.

  • Cease and Desist letter

    Formally request another person to stop doing an activity that infringes your rights under threat of legal action.

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    A Cease and Desist Letter is a formal warning to an individual or corporation to stop ("cease") and not continue ("desist") any offensive or illegal activity.  The letter explains why such activity infringes on the sender’s rights and gives the recipient a period of time to voluntarily comply with the demand.  The letter also states that if the recipient fails to comply within the given period, the sender is prepared to pursue appropriate legal remedies (i.e. file a complaint in court).

    There are no special legal requirements to send a Cease and Desist Letter but it’s best to use a mode of service where you can trace whether it was received or not (i.e. via courier).  Further, it’s advisable for you to save copies of the letter for yourself in case legal action is pursued later on. 

  • Chattel Mortgage

    Execute a mortgage over movable property (i.e. cellphone, jewelry, laptop) to secure an obligation

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    A Chattel Mortgage is a contract where movable property (i.e. a car) is put up as security by the debtor (the “mortgagor”) in the creditor’s (the “mortgagee”) favor for a loan or any other principal obligation.  If the debtor fails to pay the loan or fulfill the principal obligation the creditor may foreclose the mortgage and sell the movable property on public auction.  The proceeds of the sale will then be used to pay the debt.

    An obligation secured by a Chattel Mortgage is called a secured debt.  On the other hand an obligation unsecured by any collateral is called an unsecured debt.

  • Chattel Mortgage for Payment of Loan

    Execute a mortgage over movable property (i.e. cellphone, jewelry, laptop) to secure the payment of a loan

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    A Chattel Mortgage is a contract where movable property (i.e. a car) is put up as security by the debtor (the “mortgagor”) in the creditor’s (the “mortgagee”) favor for a loan or any other principal obligation.  If the debtor fails to pay the loan or fulfill the principal obligation the creditor may foreclose the mortgage and sell the movable property on public auction.  The proceeds of the sale will then be used to pay the debt.

    An obligation secured by a Chattel Mortgage is called a secured debt.  On the other hand an obligation unsecured by any collateral is called an unsecured debt.

  • Co-ownership agreement over property

    Agree on the use, rights and duties of co-owners who jointly own property

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    A co-ownership agreement is used to formalize a co-ownership arrangement among multiple owners of a certain piece of property. The agreement shows the ownership share of each co-owner and details each co-owners’ rights to use the property, any income they’re entitled to (i.e. to receive the rent proceeds from the property) and what their obligations are (i.e. to pay taxes and maintenance of the property).

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