Examples of using When the grantor in English and their translations into French
{-}
-
Official
-
Colloquial
(f) when the grantor dies.
Control(and therefore third-party effectiveness),is achieved even when the grantor remains free to draw on the account until notified otherwise.
When the grantor sells or otherwise disposes of the asset,the buyer acquires the asset subject to the security right.
What do I do when the grantor dies?
When the grantor executes a new continuing power of attorney, unless the grantor provides that there shall be multiple continuing powers of attorney;
A hypothec on the property of another or on future property begins to affect it only when the grantor acquires title to the hypothecated right.
As a security right is created in a particular asset only when the grantor owns or has rights in the asset, any other rule would require registration of a new notice each time the grantor acquired a new asset.
In these States the ownership of retention-of-title sellers andfinancial lessors is converted by secured transactions law into a security right when the grantor becomes insolvent.
However, third-party effectiveness by control may be achieved in this circumstance even when the grantor remains free to draw on the account until the secured creditor notifies the bank otherwise.
In these States the ownership of retention-of-title sellers andfinancial lessors is converted by secured trans actions law into a security right when the grantor becomes insolvent.
If the continuing power of attorney provides that it comes into effect when the grantor becomes incapable of managing property but does not provide a method for determining whether that situation has arisen, the power of attorney comes into effect when. .
In the case of property with respect to which the grantor acquires rights or the power to encumber thereafter,the security right in that asset is created when the grantor acquires rights in the property or the power to encumber the property.
If it were omitted, a person that bought an encumberedasset from a grantor, taking it subject to a security right at the time when the grantor's original identifier was valid, would suddenly, if the grantor changed its identifier, take the asset free of the security right even though it had not been misled by the identifier on the public record.
He agreed that in the case of property to which the grantor acquired rights or power to encumber at some point in the future,the security right in that asset was created when the grantor acquired those rights or that power.
In some cases,the proceeds of the originally encumbered assets may generate other proceeds when the grantor disposes of the original proceeds in return for other property.
In some cases, the initial proceeds of the original encumbered assets(whether in the form of natural and civil fruits or revenues, products of manufacture or proceeds of disposition)may themselves generate other proceeds when the grantor disposes of the initial proceeds in return for other assets.
A security agreement may provide for the creation of a security right in a future asset, butthe security right in that asset is created only when the grantor acquires rights in it or the power to encumber it.
In other States, the parties may agree to create a security right in a future asset. The disposition is a present one butit becomes effective as to the future asset only when the grantor becomes the owner of the asset or the asset comes into existence.
As between the parties, the security right is immediately effective at the time when they enter into the security agreement and, in the case of future assets,at the time when the grantor acquires rights in the encumbered asset or the power to encumber it.
More specifically, the question is what modifications, if any,States should make to the normal rules that apply to the enforcement of claims when developing rules to govern how security rights can be enforced when the grantor fails to perform the secured obligation.
Ms. Walsh(Canada) noted that the second sentence of paragraph 184 concerning the right of parties to agree to create a security right in a future asset stated that the disposition was a present one butbecame effective as to the future asset only when the grantor became the owner of the asset or the asset came into existence.
So, for example, States are required to decide whether a security right in a piece of equipment like a printing press extends into the money that is received by the grantor when it sells the printing press, or into another printing press that is received in exchange for the press that has been sold.
Do You Need a Tax ID Number When the Trust Grantor Dies?
Mr. Smith(United States of America) the situation under discussion arose when a grantor transferred an encumbered asset subject to a security right.