Claim security
Claim security
Security for a claim is allowed when, without it, the claimant claiming the contested subjective substantive right will be hindered or rendered unable to exercise his rights by a possible decision in his favor, provided that the claim is supported by written evidence that is sufficiently convincing for the court, supporting the merits of the claim or a guarantee is presented in the amount determined by the court.
Where the law requires security to be presented in court, the security may be a pledge of a sum of money or of government securities or a mortgage. The value of securities and real estate is calculated 20% below their market price.
The pledge is established by depositing the amount or the securities in a bank.
The mortgage is established by entering the notarized consent of the owner of the real estate for its establishment.
Pledged money and securities are returned to the pledgor and the mortgage is canceled by order of the court before which the collateral was presented
Collateral removes the ability of the disputing defendant to take actions that are detrimental to the subject matter of the dispute. In order for collateral to be admitted, the claim must be admissible, probably well-founded, and there must also be a collateral need that can be satisfied with the requested collateral measure.
Attorney at law Iuila Danova
#3, Dobrotica Str., Varna, Bulgaria
Mob: +359 895 64 59 40
WWW: advokatvarna.com
Email: iulia.danova@abv.bg