Most loans are secured by a legal mortgage. The difference between a legal mortgage and a fair mortgage is largely due to the extent that the mortgage is perfected by listing on the land registry, and legal and fair mortgages are treated differently from other creditors with respect to priority rules. A legal mortgage, which results from a fair mortgage, is a priority if it is acquired without notice of the existing security. Mortgages on land and/or buildings are effective for registering the mortgage; other mortgages are effective when mortgage contracts come into effect, but subject to perfection through registration. Registration is regulated by a number of public authorities. The main differences between financial commitments and recorded commitments are that financial commitments can only be set for financial institutions, that they cannot burden assets or businesses, and that no registration is required. Unlike a home loan, a mortgage home contract does not need to be notarized to be valid, because a private deed is sufficient. The mortgage may be granted through any type of personal assets of the debtor concerned, including future assets (excluding future bank accounts), but the guarantee will not be effective until the debtor has acquired rights to the assets concerned and the guaranteed commitment is created. To be effective against third parties, a mortgage property contract must be registered in the Romanian national register for the publication of the security. In addition, it is sometimes subject to assignments of receivables under guarantee agreements (for example. Interest) and assignments of receivables on the seller in a share purchase and sale agreement (including the assignment of receivables on the seller`s leasing guarantees).

The most common form of real estate security is mortgage (Teitoken), including, but not limited to the revolving mortgage (ne-teitoken). The mortgage in general is a fixed charge and allows the mortgage to take possession of the asset and transfer it as a priority to other unsecured creditors. The mortgage is perfected by listing in land or building records. It is important to note that the creation of security and the nature of the interest created by real estate depends on the governor`s agreement and the correct registration in the corresponding land registry, in accordance with the relevant provisions of the Basic Use and Security Registration Act with the Commercial Affairs Commission. A security form (b) may include a long-term facility governed by a complex facility letter or several ease letters defining the rights and obligations of the parties. Similarly, Form B can be used even if the guaranteed commitments are not fully monetous, for example. B where the guarantee includes obligations covered by a contract between two parties or an option agreement. 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.