Connect with us

Cuba

New decree laws customize standards on Security and Mortgage in Cuba

New decree laws customize standards on Security and Mortgage in Cuba

The Cuban Council of State approved two decree laws, No.

The specialist observed that the brand-new standard requires the written kind by methods of a public or private deed to constitute the security, forbids the shipment as security products considered by Cuban law as non-seizable and, similarly, prohibits the usage of the items provided as security by the financial institutions.

” The essential distinction between the home loan and the security is that the very first has actually generally been utilized for genuine estate that is mortgaged in favor of a person, lender of a primary obligation, as a guarantee of the satisfaction of that obligation.

Continue Reading