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contrato de alienação fiduciária em garantia

English translation: 1. chattel mortgage / lien agreement for a guaranty (surety) 2. purchase and sale with title retention agreement

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Portuguese term or phrase:contrato de alienação fiduciária em garantia
English translation:1. chattel mortgage / lien agreement for a guaranty (surety) 2. purchase and sale with title retention agreement
Entered by: Michael Powers (PhD)
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11:08 Oct 18, 2007
Portuguese to English translations [PRO]
Law/Patents - Law: Contract(s) / Conditions of agreement for purchase of property
Portuguese term or phrase: contrato de alienação fiduciária em garantia
Embora o COMPRADOR se declare conhecedor e suficientemente esclarecido a respeito das disposições da Lei n° 9.514/97, entenderam as partes de bom alvitre inserir também no presente instrumento, para que não pairem quaisquer dúvidas a respeito, outras regras que deverão constar do futuro contrato de alienação fiduciária em garantia
peterinmadrid
Portugal
Local time: 17:22
chattel mortgage agreement for a guaranty (surety)
Explanation:
Mike :)

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Note added at 10 mins (2007-10-18 11:18:34 GMT)
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Noronha. Dicionário jurídico.

"alienação fiduciária: chattel mortgage"

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Note added at 2 days7 hrs (2007-10-20 18:48:18 GMT) Post-grading
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You're welcome, Peter - Mike :)
Selected response from:

Michael Powers (PhD)
United States
Local time: 11:22
Grading comment
Thank you, Michael.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3chattel mortgage agreement for a guaranty (surety)
Michael Powers (PhD)
4 +1purchase and sale with title retention agreement
Lincoln Silveira
4 +1lien agreement
Ben Kohn


Discussion entries: 1





  

Answers


5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
lien agreement


Explanation:
Lien agreement

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Note added at 6 hrs (2007-10-18 17:14:16 GMT)
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I think the most common term in the UK is actually a "Secured Loan"


Ben Kohn
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
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in this pair and field What is ProZ.com Project History(SM)?

Peer comments on this answer (and responses from the answerer)
agree  LiaBarros
44 mins
  -> Thanks Lia.

neutral  Lincoln Silveira: A lien agreement is somewhat broad terms. It could mean, for instance, a worker's lien for services rendered yet not paid for. Never saw this in Brazil, but I know it exists in common law jurisdictions.
1 hr
  -> Fair enough. I have heard this term used in this way in the UK though.
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
purchase and sale with title retention agreement


Explanation:
Upon research I found that this Brazilian legal instrument is somewhat prone to difficulties because of its peculiar nature. It appears to have been historically associated with "chattel mortgage", although technically in this case a loan is granted against an interest on some movable property. Not the case with "alienação fiduciária".

In "alienação fiduciária", on the other hand, a piece of property is sold with the proviso that title will be retained by seller until such and such happens, usually when the debt is fully paid out by buyer. Note that only title is retained by seller, whereas possession (and every other interest related thereto) is fully assigned to buyer, who then holds that piece of property "in trust" (ergo the "fiduciária") until title is conveyed upon settlement of the outstanding balance.

This is, in essence and in broad lines, "alienação fiduciária em garantia". Of course there will be other variations depending on specific terms and conditions agreed upon by the parties, the type of property being considered, and so forth.

Perhaps the expression "chattel mortgage" has been proposed under a strictly economic point of view, since the underlying transaction closely resembles a loan. To legally untrained eyes, the selling of a property in installment might well pass under the guise of a loan because of the economic nature of this transaction.

But it is worth noting that there is no "pure" loan involved in such transaction.

My $ .02

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Note added at 6 hrs (2007-10-18 17:08:23 GMT)
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Duhaime's Law Dictionary:

Chattel mortgage
When an interest is given on moveable property other than real property (in which case it is usually a "mortgage"), in writing, to guarantee the payment of a debt or the execution of some action. It automatically becomes void when the debt is paid or the action is executed.
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Wikipedia English - The Free Encyclopedia

Chattel mortgage
A chattel mortgage is a mortgage where a loan is granted against the value of movable personal property, as opposed to real estate.

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Note added at 6 hrs (2007-10-18 17:12:43 GMT)
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Another link from Wikipedia which may help with this one:

http://en.wikipedia.org/wiki/Retention_of_title_clause

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Note added at 6 hrs (2007-10-18 17:26:59 GMT)
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Wikipedia's on SL:

http://en.wikipedia.org/wiki/Secured_loan#Types

And this one one the same institute from a UK's perspective:

http://www.moneysavingexpert.com/loans/secured-loans



Lincoln Silveira
Brazil
Local time: 12:22
Specializes in field
Native speaker of: Portuguese
PRO pts in category: 52

Peer comments on this answer (and responses from the answerer)
agree  Ben Kohn: OK, I get it now! ;)
57 mins
  -> Check Wikipedia for SL. Very similar, I admit, but again I should stress that there is no "loan" per se involved in transaction, unless you consider the buyer taking a loan from seller for not paying for the property at sight but rather in installments.
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9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
chattel mortgage agreement for a guaranty (surety)


Explanation:
Mike :)

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Note added at 10 mins (2007-10-18 11:18:34 GMT)
--------------------------------------------------

Noronha. Dicionário jurídico.

"alienação fiduciária: chattel mortgage"

--------------------------------------------------
Note added at 2 days7 hrs (2007-10-20 18:48:18 GMT) Post-grading
--------------------------------------------------

You're welcome, Peter - Mike :)

Michael Powers (PhD)
United States
Local time: 11:22
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 347
Grading comment
Thank you, Michael.

Peer comments on this answer (and responses from the answerer)
agree  Donna Sandin: This was agreed on ProZ-2002. Alienacao fiduciaria is a uniquely Brazilian doctrine under which "resolutory" ownership and indirect possession of movable assets is transferred to a creditor, usually to guarantee payment...
3 hrs
  -> Thank you, Donna - Mike :)

agree  Manuel Rossetti
8 hrs
  -> Thank you, Emily - Mike :)

agree  Humberto Ribas
9 hrs
  -> Thank you, Humberto - Mike :)
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Changes made by editors
Oct 20, 2007 - Changes made by Michael Powers (PhD):
Edited KOG entry<a href="/profile/112124">peterinmadrid's</a> old entry - "contrato de alienação fiduciária em garantia" » "chattel mortgage / lien agreement for a guaranty (surety)"


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