Guidelines on the Review and Determination of Guaranteed Property in Loans
关于借款中担保财产审查认定的指导意见
ຄຳແນະນຳ ວ່າດ້ວຍ ການພິຈາລະນາຫຼັກຊັບຄຳປະກັນໃນການກູ້ຢືມເງິນ
Summary
The Supreme People's Court issued uniform guidance on the criteria for determining collateral property in civil cases involving loan contract disputes, clarifying the requirements for the establishment of collateral and the rules for determining the validity of transferring property to repay loans.
Articles
Article 1
A secured loan must be accompanied by a written security contract, or include security clauses in the loan contract, and be executed in accordance with regulations, in order to be a lawful and legally compliant security.
Article 2
In a loan, if the lender and borrower agree to execute a deed of transfer of ownership, a sales contract, a pawn contract, or other forms, transferring property to the lender to offset the loan, and this occurs within the loan contract period when the borrower is unable to repay the loan, such property transfer shall be deemed a transfer of property for the purpose of securing the loan.
Article 3
In a loan, if the lender and the borrower agree to execute a property transfer document, sales contract, pawn contract, or other forms to transfer property to the lender to offset the loan, and such transfer is made after the expiration of the loan contract term and the accounts have been settled, such property transfer shall be recognized as a transfer of property to offset the loan.
Showing the first 3 of 5 articles. Open the LaoPaniti app for the full trilingual text.
Read the full trilingual text with AI explanation in the LaoPaniti app← LaoPaniti home: AI legal Q&A · contract drafting · Chinese-Lao translation