Like many other legal systems, Spanish conflict of law rules set out the principle of the rule of property, property rights and any other law relating to personal property or real estate (Article 10.1 bGB). If the equipment to be supplied under the supply contract in question is in Spain, the validity and applicability of the property reserve agreements on these devices are assessed and interpreted by the Spanish courts. Although the supply contract is governed by the law of another jurisdiction, the Spanish courts apply Spanish law to assess the validity and applicability of property reserve agreements for all fishing property delivered under that property and located in Spain. The law is mandatory and the parties are therefore not entitled to replace, replace or otherwise modify the consequences set out in their articles (unless they are authorized to do so). Agreements of parties that violate the mandatory provisions of the law are non-applicable (Article 14) and may even reduce the buyer`s liability (or desaders) to the purchase price or principal amount of the facility (excluding interest, fees, etc.). (Article 8). With respect to the financing possibilities of such purchases, section 4 of the Act provides that they can be granted to the buyer or seller. If granted to the seller, they can be structured as (i) the transfer of the seller`s credit rights to the buyer as part of a legal purchase or (ii) the agreement between the seller and the financier, under which the buyer can pay the purchase price (or part of it) with a reprieve of more than three months , to the financier (or to the transfer of the financier). With respect to the financing of the purchase, the law requires that the installation be granted to the purchaser up to the amount of the Chatl building acquired and that the tenor of the establishment be more than three months. Such a threshold would prevent them from considering the entire regular facility (usually quotas for venture capital, software or any other service to be provided by the provider).
If this is the case, different tranches should be structured within the facility concerned, only the tranches allocated to the financing of non-consumable and identifiable „Chattel” real estate (i.e. equipment) benefit from the law.