Lex Cameroon

Acte uniforme révisé portant organisation des sûretés › Title 3 › Chapter 3

SECTION 211

The vendor, exchanger or the co-beneficiary may require from the other party to the deed a mortgage on the property sold, exchanged or distributed to secure the total or partial payment of the price, difference in value to be paid in cash or the loan arising from the distribution. In the absence of a conventional mortgage clause, the vendor, exchanger or the co-beneficiary may in pursuance of a decision of the competent court obtain a forcible mortgage on the said property. Any action to cancel the deed of sale, exchange or of distribution based on the failure to pay the price or the difference in value shall lie with the vendor, exchanger or the co-beneficiary who holds a conventional or forcible mortgage duly published on account of having obtained this security conjointly with it. Whoever shall provide funds for the acquisition of sold, exchanged or shared property may obtain a conventional or forcible mortgage under the same terms as the vendor, exchanger or co-beneficiary once it is formally established from the loan agreement that the funds were intended for that purpose and through a receipt issued by the vendor, exchanger or the co- beneficiary showing that payment was made from the borrowed funds.
Official translation Spot-checked In force from 15 December 2010 Source page 48

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Texte français

This provision has no official French version. You can read an unofficial machine translation — for understanding only, never to quote.

Contents

Section 211 of the Acte uniforme révisé portant organisation des sûretés /akn/ohada/act/loi/undated/aus-2010
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