Table of Contents
Definition of flexible real security
Real security is a real asset that borrowers provide to secure a loan. It can represent a right to movable or immovable property. As movable real security z. B. Goods, cars, machines. A distinction must be made here:
Retention of title
the Retention of title, in which the seller of a movable item reserves ownership until the purchase price has been paid (Section 449 of the German Civil Code). In case of doubt, it can be assumed that the property is transferred subject to the condition precedent that the purchase price has been paid in full.
That Lienthat is the encumbrance of a movable thing (§§ 1204-1208 BGB) or a right (§§ 1273-1274 BGB) for the purpose of securing a claim. The pledge remains the property of the borrower but becomes the property of the lender, which precludes its use by the borrower.
Transfer by way of security
the Transfer by way of security, with which it is possible for the borrower to continue to use the thing assigned by way of security. The assigned item remains in the immediate possession of the borrower. The lender only acquires indirect ownership. This is possible through the agreement of a constitution of possession (§ 930 BGB), under which the lender allows the borrower to own and use the thing.
Assignment of security
the Assignment of security, which is also called assignment. With it, the borrower as assignor assigns claims in an informal contract to the lender as assignee (§§ 398 ff. BGB), unless their assignment is contractually or legally excluded. In the case of an open assignment, the assignment is indicated to the debtor of the claim, who only has to make the payment to the assignee. In the case of a silent assignment, the debtor is not notified, so he can also pay the assignor. The amount of the security assignment is usually 20 to 30 % above the loan amount.