Definition : Immovable hypothec (conventional) - Transfer of a co-owner's voting rights

Additional guarantee in a deed of hypothecary loan, by which a co-owner relinquishes, in favor of his creditor, the voting rights attached to the fraction he has hypothecated. This right is generally exercised by the hypothecary creditor only if the co-owner defaults of his obligations towards the creditor. The voting rights transfer must be notified to the syndicate to preserve its opposability.

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Every co-owner should participate to all meetings to ensure the meeting of co-owners can reach a quorum and therefore deliberate and take decisions. When a co-owner cannot go there, he can ask the person of his choice to represent him. The mandatary the one who receives the proxy is not necessarily another co-owner. It may be a person outside the co-ownership. The latter will thus be able to represent him in this meeting and vote in his place on all the questions on the agenda.   A written instrument is compulsory Tacit mandate being excluded, you must give a written instrument to the mandatary of your choice if you wish to be represented at the Meeting. The latter, who will represent you and vote on your behalf during the general meeting, can be one of the directors of the co-ownership (in his personal capacity), another co-owner, a friend or a person totally foreign to the co-ownership.
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