As part of the setting up of a real estate contract, such as a real estate loan for the purchase of a property or a real estate loan consolidation with your bank or a specialized organization , it is important or even essential to have solid guarantees in order to insure buyer and seller / tenant and lessor against the maximum risk. The hypothesis is one of those guarantees that can sometimes be confused with what is called the " privilege of lender of money " (or PPD).
What exactly does this guarantee different from the hypothesis consist of? What are the major points of difference between these two legal guarantees? All the answers to these questions in the rest of this article.
The privilege of money lender in a few words
To fully understand the difference between hypothesis and moneylender privilege , it is important to understand precisely what this concept consists of.
This privilege of lender of money is therefore “a right that the very nature of the debt” offers directly to a creditor with the aim of being preferred to other creditors, as provided for in article 2324 of the Civil Code . In real estate matters in particular, recourse to this privilege can be invoked when, among several privileged creditors, we can distinguish the creditors “who have provided the funds for the acquisition of a building” within the framework of a relationship. property, but also and above all so that the final sum is intended for the initial employment, as agreed between the parties involved.
More simply, and to understand the particularity of this privilege of lender of money: a borrower must make a promise, in a deed of loan, to use all or part of the funds that have been borrowed for a specific purchase. At the same time, the seller must also recognize this, directly in the deed of sale. From the moment the two parties take note, the lender directly obtains the privilege of lender of money by becoming a party to the contract.
As you will have understood, this privilege differs greatly from the hypothesis which is, for its part, a precise guarantee which does not engage a particular privilege throughout the execution of the contract. For any further questions, do not hesitate to contact the specialist closest to you. It will only be easier after identifying the advantages that you can have by using the privilege of money lender.