Feb 12 11:27
3 mos ago
22 viewers *
French term

hypothèque légale du trésor

French to English Bus/Financial Finance (general) Mortgage
This relates to Company X providing a property mortgage guarantee, securing a loan between two companies Y and Z.

"En conséquence, XXX, comptable public responsable du Service des Impôts des Entreprises de XXX, déclare accepter de donner mainlevée totale et définitive de **l'hypothèque légale du trésor** publiée et mentionnée ci-dessus,
Décharge est donnée au chef de service de publicité foncière de XXX qui radiera dans le sens sus indiqué."

I assume this term is specific to French law and theoretically shouldn't be translated, but that wouldn't be very helpful for an English reader. Is there an approximate term in English that could help to explain what it means?

Discussion

Mark Bossanyi (asker) Feb 15:
Yes, I can see them in the glossary. The "hypothèque légale" part is the easy bit. What I'm wondering about is whether a treasury-linked statutory mortgage is a particular kind of mortgage with its own specific term in English.
Mark Bossanyi (asker) Feb 14:
Yes, I can see them in the glossary. The "hypothèque légale" part is the easy bit. What I'm wondering about is whether a treasury-linked statutory mortgage is a particular kind of mortgage with its own specific term in English.
Mark Bossanyi (asker) Feb 13:
Yes, I can see them in the glossary. The "hypothèque légale" part is the easy bit. What I'm wondering about is whether a treasury-linked statutory mortgage is a particular kind of mortgage with its own specific term in English.
Mark Bossanyi (asker) Feb 12:
Yes, I can see them in the glossary. The "hypothèque légale" part is the easy bit. What I'm wondering about is whether a treasury-linked statutory mortgage is a particular kind of mortgage with its own specific term in English.
philgoddard Feb 12:
It does sound like a tax lien, but you should be able to confirm this, because it says 'l'hypothèque mentionnée ci-dessus.' What does that say?
AllegroTrans Feb 12:
Asker This is not a mortgage in the traditional sense, but a lien or charge to secure a debt owing to, or enforceable by, the treasury.
Mark Bossanyi (asker) Feb 12:
Yes, I can see them in the glossary. The "hypothèque légale" part is the easy bit. What I'm wondering about is whether a treasury-linked statutory mortgage is a particular kind of mortgage with its own specific term in English.
AllegroTrans Feb 12:
Please check the glossary There are several entries for hypothèque légale and the "trésor" is the French public treasury

Proposed translations

+3
2 hrs
Selected

tax lien

Although 'tax lien' seems to be an American thing, it is probably sufficiently "approximate [a] term in English that could help to explain what it means' even for an informed British public.

"L'hypothèque légale du Trésor est une sûreté réelle qui prend naissance en même temps que la créance fiscale par l'effet de la loi, indépendamment de la volonté du débiteur.
L'article 1929 ter du CGI précise que l'hypothèque légale doit faire l'objet d'une inscription au fichier immobilier et qu'elle ne peut être inscrite qu'à partir de la date de mise en recouvrement des impositions et pénalités y afférentes ou à partir de la date à laquelle le contribuable a encouru une majoration ou pénalité pour défaut de paiement.
Son inscription a pour effet de rendre cette sûreté opposable aux tiers et de prendre rang à la date de l'inscription au fichier immobilier. L'accomplissement de cette formalité ne produit pas les frais inhérents à la constitution d'une hypothèque conventionnelle.
L'hypothèque légale peut atteindre tous les biens immobiliers appartenant aux redevables directs de l'impôt, personnes physiques ou morales, et aux tiers solidairement responsables. Elle s'applique à toutes les créances recouvrées par les comptables des finances publiques, qui ont le caractère d'impositions ou d'amendes fiscales ainsi qu'aux frais y afférents, à l'exception des produits domaniaux et des pénalités correctionnelles."
https://bofip.impots.gouv.fr/bofip/1789-PGP.html/identifiant...

"Tax Lien
A claim registered against a property by a taxing authority for unpaid taxes. There are federal tax liens and state tax liens.
A tax lien is a type of statutory lien that is created by operation of law and does not require the consent of, or a security agreement with, the debtor. Generally, in a financing transaction, the borrower is asked to clear any tax liens filed against any loan parties or any of its assets before the closing date."
https://uk.practicallaw.thomsonreuters.com/7-382-3869?transi...
Peer comment(s):

agree AllegroTrans : (a) on the proviso that this is a tax debt, not some other debt to the government (b) provided the French is retained and this provided as an explanation in brackets. This is a neat "country neutral" option. I would add "statutory" though.
7 mins
agree Andrew Bramhall
32 mins
agree philgoddard
2 hrs
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4 KudoZ points awarded for this answer. Comment: "Yes, thanks. That seems to be what it is."
1 hr

Statutory Treasury Charge; (E&W) Statutory Treasury Charging Order

Depends why this charge has been slapped on. Otherwise see Law Society's 'Floating' Legal Aid Charge for family law, divorce contribs.
Example sentence:

A charging order is a 'secured debt'. It is an order that 'secures' a debt against a property, which means if you sell or remortgage that property before clearing the debt, money from the sale will be taken to pay it off. This can only happen after a CCJ.

Peer comment(s):

neutral AllegroTrans : Law Society's 'Floating' Legal Aid Charge for family law, divorce contribs. - in France? Really? I know all about charging orders but would an American? Bovine enforcement method? Can you ever get "country-neutral" legalese into your anglocentric mind?
56 mins
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