Charge on immovable property Sections 1429 – 1434

By | 4 กันยายน 2019



Section 1429. An immovable property may be subject to a charge entitling the beneficiary to a periodical performance out of such property or to a specified use and enjoyment thereof.

Section 1430. A charge on immovable property may be created either for a period of time or for the life of the beneficiary.

If no time has been fixed, it is presumed that the charge is for the life of the beneficiary.

If it is created for a period of time, the provisions of Section 1403 paragraph 3 shall apply mutatis mutandis.

Section 1431. Unless otherwise provided in the act creating it, a charge on immovable property is not transferable even by way of inheritance.

Section 1432. If the beneficiary fails to comply with any essential condition specified in the act creating the charge, his his right may be terminated.

Section 1433. If the owner of the property does not perform his obligations under the charge, the beneficiary may, in addition to the remedies for non-performance, apply to the Court to appoint a Receiver to manage the property and perform the obligations for the owner, or order the property to be sold by auction and the beneficiary be paid out of the owner together with the value of the charge.

The Court may, upon security being given by the owner, refuse to make an order for the appointment of a receiver or for an auction, or release a Receiver already appointed.

Section 1434. Sections 1388 to 1395 and 1397 to 1400 shall apply mutatis mutandis to the charge on immovable property.