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Equitable Charge | ||
Under English law and in common law jurisdictions derived from English law, there are broadly eight types of proprietary security interest that can arise. Equitable ChargeA fixed equitable charge simply confers a power of sale on the secured party. It is probably the most common form of security taken over assets. The considerations relating to the exercise of a power of sale by the holder of a fixed charge are substantially the same as those relating to the sale by the holder of a mortgage. An equitable charge is also a non-possessory form of security, and the beneficiary of the charge (the chargee) does not need to retain possession of the charged property. Where security equivalent to a charge is given by a natural person (as opposed to a corporate entity) it is usually expressed to be a bill of sale, and is regulated under applicable bills of sale legislation. Copyright 2008 - France BtoB from Wikipédia
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