patrimoniu de afectatiune

English translation: patrimony of affection

22:52 Jun 7, 2017
Romanian to English translations [PRO]
Real Estate / termen dintr-un CONTRACT DE GARANTIE IMOBILIARA
Romanian term or phrase: patrimoniu de afectatiune
imobilul nu face obiectul unui patrimoniu de afectatiune
gianina botezatu
English translation:patrimony of affection
Explanation:
When a business or real estate is inherited, I think the patrimoniu de afectatiune is a portion that can be shielded (protected) from creditors' claims against the business, on the theory that it was bequeathed for personal rather than business reasons.

In contrast, I think a special purpose entity is created to protect creditors, by giving them the right to make claims against the SPE part of the business, so they can be secure in their dealings with that part of the business even if other parts of the business fail.

http://www.investopedia.com/terms/s/spv.asp

The patrimoniu de afectatiune is created by Romanian statute and I don't know whether there is a comparable term in non-Romanian law.

https://www.juridice.ro/468953/ioan-schiau-despre-patrimoniu...
Selected response from:

mrrafe
United States
Local time: 07:16
Grading comment
1 KudoZ points were awarded for this answer



Summary of answers provided
3 +1patrimony of affection
mrrafe
4special-purpose assets (reserve)
Manuela C.


  

Answers


6 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
patrimony of affection


Explanation:
When a business or real estate is inherited, I think the patrimoniu de afectatiune is a portion that can be shielded (protected) from creditors' claims against the business, on the theory that it was bequeathed for personal rather than business reasons.

In contrast, I think a special purpose entity is created to protect creditors, by giving them the right to make claims against the SPE part of the business, so they can be secure in their dealings with that part of the business even if other parts of the business fail.

http://www.investopedia.com/terms/s/spv.asp

The patrimoniu de afectatiune is created by Romanian statute and I don't know whether there is a comparable term in non-Romanian law.

https://www.juridice.ro/468953/ioan-schiau-despre-patrimoniu...



    Reference: http://www.partaje-avocati.ro/legislatie/bunuri-comune/patri...
    Reference: http://legeaz.net/dictionar-juridic/patrimoniu-de-afectatiun...
mrrafe
United States
Local time: 07:16
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1

Peer comments on this answer (and responses from the answerer)
agree  Angela Öhrman
6 days
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
special-purpose assets (reserve)


Explanation:
Dictionar juridic

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Note added at 10 hrs (2017-06-08 09:05:49 GMT)
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ROmanian definition: Art. 31

Patrimoniul. Mase patrimoniale şi patrimonii de afectaţiune
3) Patrimoniile de afectaţiune sunt masele patrimoniale fiduciare, constituite potrivit dispoziţiilor titlului IV al cărţii a III-a, cele afectate exercitării unei profesii autorizate, precum şi alte patrimonii determinate potrivit legii
Detalii: http://legeaz.net/noul-cod-civil/art-31-patrimoniul-mase-pat...

It is NOT a SPE/SPV; it is a special purpose ASSETS. The concept is largely used in Europe.
http://www.linguee.com/english-french/search?source=auto&que...
You might prefer the Canadian concept : patrimony by appropriation. (Civil Code Québec)

Manuela C.
Local time: 12:16
Specializes in field
Native speaker of: Native in RomanianRomanian
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