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otorga prenda sin desplazamiento a favor de

English translation: to issue non-transferrable collateral

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:otorgar prenda sin desplazamiento
English translation:to issue non-transferrable collateral
Entered by: Parrot
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02:39 Oct 3, 2001
Spanish to English translations [PRO]
Law/Patents
Spanish term or phrase: otorga prenda sin desplazamiento a favor de
En garantía del pago de los efectos pendientes de pago, (la sociedad del Grupo XXXXXXXX) otorga prenda sin desplazamiento a favor de XXXXXX sobre [el número de alevines cuyo valor a precio de mercado coincida con el volumen anual de pienso que se prevé que la sociedad del grupo Timar firmante del contrato adquiera
Katherine Matles
Spain
Local time: 18:20
issues non-transferrable collateral
Explanation:
This is a guarantee or security on any property, real or personal, even over a harvest, which precludes the conveyance of the property pledged.
Selected response from:

Parrot
Spain
Local time: 18:20
Grading comment
Thanks!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1grants a chattel mortgage in favor of
Marian Greenfield
4 +1issues non-transferrable collateral
Parrot
5 -1... grants the right of ownership upon default to ...pfeinstein


  

Answers


47 mins   confidence: Answerer confidence 5/5 peer agreement (net): -1
... grants the right of ownership upon default to ...


Explanation:
"Prenda sin desplazamiento" refers to a loan guarantee and underlying property rights. A "prenda sin desplazamiento" is a loan-contract which allows the borrower to actually own the underlying property (mostly the case in mortgages). In some cases, if somebody lends you money, the property actually will be owned by the one lending the money (in which case it would be "prenda con desplazamiento".

Hence, "a favor de", simply means "to".


    Reference: http://www.maxinver.com/in_garantias2.asp
    Legal specialist
pfeinstein
Local time: 18:20
Native speaker of: Native in BulgarianBulgarian
PRO pts in pair: 20

Peer comments on this answer (and responses from the answerer)
disagree  Marian Greenfield: prenda sin desp. is specifically a chattel mortgage
2 hrs
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3 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
grants a chattel mortgage in favor of


Explanation:
To secure payment of the outstanding items/drafts [depending on context], company X grants a chattel mortgage in favor of x on....


    Tom West's S>E Dictionary of Law and Business
    20 years' experience in financial translation
Marian Greenfield
Local time: 12:20
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 14613

Peer comments on this answer (and responses from the answerer)
agree  Stuart Allsop: Better late than never with my "agree"... This was the correct term, of course.
1719 days
  -> thanks Stuart
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
issues non-transferrable collateral


Explanation:
This is a guarantee or security on any property, real or personal, even over a harvest, which precludes the conveyance of the property pledged.

Parrot
Spain
Local time: 18:20
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 7645
Grading comment
Thanks!

Peer comments on this answer (and responses from the answerer)
agree  Daltry Gárate: transferable
4314 days
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