The typical form of real estate security is a mortgage bond registered against real estate or real estate that the investor buys or borrows. There is no distinction between different types of mortgages in Zimbabwe. The other usual type of guarantee is a guarantee loan. It is an agreement between at least three parties, in which the loan is based on the guarantee of a third party. In principle, the rights inherent in the shares (for example. B voting rights, participation in dividends or newly issued or related rights) are retained by the Pfeder and may be exercised by the donor as long as he owns the shares. However, the deposit agreement will normally contain certain restrictions for the pfandor and provides that the pawnbroker will exercise these rights. B in the event of a default on financing. The Loan Market Association (LMA), a trade organisation for the European syndicated credit market, is developing two types of proposed English-signed legal security agreements, which are adjacent to the LMA`s investment facility contract for real estate financing and the LMA`s real estate financing mechanism. Security is also generally assumed by all relevant mobile assets related to acquisition or development. The 2016 Mortgage Act 2016 on the mortgage on personal assets for the guarantee of a debt (and its amendments, namely the „Pledge Law”) regulates how the guarantee is insured on certain classes of personal assets such as accounts, liabilities, equipment and tools, goods and raw materials and agricultural products. The Consignment Act provides that the security on these personal propertys must be provided by a security agreement or a written mortgage and, unlike the previous position in the United Arab Emirates, allow the taking of security without proof of ownership and also allow the taking of security on future property (including bank accounts with fluctuating balances).
It is therefore possible to take over the guarantee of such a property, which to some extent is akin to an English obligation or variable levy (provided that the requirements of the pawnbrokering law are met). In addition to a mortgage right, borrowers generally create guarantees for the following assets: tenant debts, insurance receivables, bank receivables, receivables on management contracts, receivables from sales contracts or real estate development and, if applicable, receivables on hedging contracts, property assets or shares of the borrower. In addition, it is customary to enter into agreements in the form of notarized certifications that accept the direct performance of the payment obligations of the borrower concerned. It should be noted that in this section, additional loans or re-medations with the primary lender (the current lender or a new lender) and not loans are set by another lender in addition to the primary lender. Scottish ministers continue to defend the position of Scottish ministers on other lenders, namely that third-tier loans protected against property are not allowed. Furniture assets can be mortgaged by registration in the National Register of Wages. This record entry means that all personal, material and intangible assets, in whole or in part, can be pledged by a private agreement. This guarantee applies between the parties from the date of closing, but in order to be enforceable to third parties, the collateral must be registered in the national register of deposits. This registration is valid for a renewable period of 10 years.
A pledge of competent personal assets also applies to third parties by taking possession of the assets concerned.