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Vouchers: the complete legal guide to their nature, system and use
By Raphaël MORENON3 August 2025Although they are sometimes overlooked by entrepreneurs, savings bonds are a highly flexible legal tool for cash management. The legal framework for these instruments, which has been radically modernised over the last decade, has clarified their nature and conditions of use, making them an attractive alternative to traditional bank financing. Navigating the legal framework for financial instruments can be complex. Our firm, with a strong background in banking and finance law, offers you a comprehensive overview of this instrument, from its definition to its tax and practical implications. This article explores the characteristics of savings bonds, comparing them with other instruments such as the various types of bank deposits, to give you a clear view of their strategic usefulness. What is a savings bond? Definition and legal development Historical origins and current legal framework (decree-laws, laws, ordinances) The savings bond...
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> The practice of seizing propertyA practical, chronological and exhaustive study of the implementation of a property seizure procedure.
We put all our expertise to work to achieve a simple objective: to prevent a property seizure.
Liens in insolvency proceedings: who gets paid first?
When a company goes through a financial crisis and enters receivership, the normal interplay of security interests is disrupted. This is especially true for the owner of a mortgaged asset, whose rights and obligations are affected. The usual rules of the Civil Code give way to a new logic...Classification of property security interests: order and priorities
Security law organises competition between creditors. Who will be paid first if the debtor cannot honour all his debts? This is not a theoretical question. It determines the effectiveness of collateral and, for owners of mortgaged property, their rights and obligations. Why classify mortgages?The reform of security interests: what has changed?
Security law has undergone two major waves of reform in 15 years. The first in 2006 laid the foundations for modernisation. The second, in 2021, revolutionised certain key aspects. These changes have profoundly transformed the legal landscape for collateral, impacting in particular the rights and obligations of...The right of retention in property matters: a little-known legal weapon
The right of retention is an effective but often neglected mechanism in security law. Although it is widely recognised for movable property, its application to immovable property remains more delicate, raising questions about the rights and obligations of the owner of an asset encumbered by a security on immovable property. A legal nature...Mortgages: the king of property collateral
Mortgages dominate the real estate security landscape. This security, which does not involve dispossessing the debtor, offers the creditor effective protection. For the owner of the encumbered property, it implies a series of specific rights and obligations that it is essential to be familiar with. Definition and characteristics A mortgage is an accessory real right that encumbers...Property ownership as a guarantee: absolute protection
The credit crisis is driving creditors to seek increasingly effective protection. In this context, security property is emerging as a powerful alternative to traditional guarantees. Ownership security: an old concept revisited Ownership security is based on a simple idea: to use the right of ownership itself...The property pledge: an outdated form of security
The property pledge remains the forgotten property security. Unlike mortgages, which dominate the legal landscape, pledges of immovable property - formerly known as antichrèse - suffer from a marked lack of interest in practice. Definition and specific features Pledging of real estate is defined as "the assignment of real estate as security for an obligation with a...General property liens
Definition and basis of liens on immovable property A lien on immovable property is a legal security interest. It confers a preferential right over the sale price of the debtor's property. It exists without being registered with the Land Registry. Liens are based on the quality of the claim. The...General presentation of property security interests
What is a charge on immovable property? A charge on immovable property is a security interest in immovable property. It protects a creditor against the risk of insolvency of its debtor. It allows the creditor to be paid in preference to other creditors. These guarantees are essential for mortgages and property transactions. Without them,...Seizure of intangible rights: more than just shares
The seizure of partners' rights and securities is often highlighted in enforcement law. It deserves particular attention. But other intangible assets can also be seized by a creditor with an enforcement order. These "other intangible rights" constitute a vast and complex universe. They are...
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