Description
Movable hypothec
- #G[Movable hypothec]G[443]G# is a contract between a debtor and a creditor to secure certain obligations or commitments made to each other. This type of guarantee is commonly used to secure commercial loans or specific financial commitments.
- In Quebec, the deed ofmovable hypothec must specify the amount for which the hypothec is granted. This rule applies even if the hypothec is constituted to secure the performance of an obligation whose value cannot be determined or is uncertain.
- The document must contain a sufficient description of the asset or assets given as security to enable them to be clearly and precisely identified.
- In most cases, amovable hypothec is granted by a person operating a business. It enables entrepreneurs to secure their commercial debts or financial commitments with movable property, such as equipment, inventory or other business assets.
- The loan document or other document securing the mortgage must be signed prior to the mortgage commitment, unless you wish to record the loan directly in the mortgage contract .
- The chattel mortgage available on this site is a document that will meet your needs for non-possessory mortgages in most situations.
Other services offered
Price
| Non-possessory chattel mortgage contract | $95 |
Available options
| The obligation (loan) to secure has already been evidenced in a separate document | Included |
| To acknowledge the loan in the deed of hypothec | Included |
| To obtain the extract of the resolution of the Debtor which would be a legal person (corporation, company, etc.) | Included |
| To obtain the extract of the resolution of the Creditor which would be a legal person (corporation, company, etc.) | Included |
|
Questionnaires review with a member of our legal team No discount or credit is applicable to this option. |
$60 |
