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. A collateral through the shares of a Belgian company is sold by private agreement. A lender`s right to pledge can only insure the debts resulting from the financing of the acquisition of a property. This means that, when a loan agreement is entered into to finance the acquisition of land and construction work, only the financing of the purchase of land can be provided by the lender`s pledge. In such a case (purchase of land and construction work), a guarantee is granted by the lender on the amount of the loan corresponding to the purchase price and a mortgage is granted for that part of the loan that relates to the construction work. To acquire a mobile mortgage on the borrower`s personal assets (for example. B, all assets, receivables, insurance, etc.), a lender must take out a mortgage agreement with the borrower concerned. A mortgage on real estate is created by a mortgage agreement that must be executed before a notary to be valid under Romanian law and also indicate the mortgaged assets, the parties and the cause of the guaranteed commitments. It must also contain enough emissions to determine the guaranteed amount. In addition, mortgages must be registered in the national register in order to be enforceable to third parties and to prioritize them. If more than one mortgage is on the same asset, their priority depends on when the application for registration was filed. Banks may also accept a transfer of rights guarantees under acquisition agreements (if any).
A business borrower may also provide a security interest in all (or some) of its current and future assets under a general security agreement. A general security agreement includes an interest in the security of circulating assets. The movement of assets is a class of assets that may vary from time to time during the borrower`s activity and be divested without the lender`s consent.