Services and all related elements and information are provided on a «as it is» and «as available» basis, with no guarantee of any kind, and we explicitly reject all guarantees, explicit or implied, including unspoken market opening guarantees, title, suitability for a particular purpose and non-counterfeiting. The customer recognizes that we do not guarantee that services are uninterrupted, fast, safe or error-free. Some laws do not allow for the exclusion of liability for certain types of guarantees, so the above disclaimers may not apply to you. This agreement confers certain legal rights, and authorized users and customers may have other rights that vary from jurisdiction to jurisdiction. The above disclaimers do not apply in the entirety of the existing legislation. The term abstract is governed by different meanings, but refers, in the legal sense of the term, to an abbreviated history of an official data set. It is often used in the context of a summary of a country title. Such a summary sets out all important acts relevant to the title, such as pledges and charges, transmissions, transfers and assignments, as well as other facts relevant to the applicant`s title. A summary of the title will also take into account the status of pledge rights and charges that will show whether they have been released or not. The abstract system of transfer of ownership is a legal denomination in German debt law (debt law) and property rights (property rights).

Although the BGB does not explicitly refer to it, the notion of separating a personal obligated person from the payment or exchange of goods or legal rights (for example). B by contract) transfer of ownership to these goods or legal rights (. B for example, an act or registration in the land registry) is fundamental to German private law (as well as Dutch law). South African law and common law). Although the abstract assignment of securities is apparently contrary to the usual rational interpretation of commercial transactions, it is undisputed within the German legal community. The main advantage of the abstract system is its ability to provide a secure legal construct for almost all financial transactions, however complicated this transaction may be. The preservation of the property is a good example. If someone buys something and pays the purchase price in installments, the system faces two competing interests: the buyer wants the goods purchased immediately, while the seller wants to ensure the full payment of the purchase price. After the abstract handing over of the title, BGB has a simple answer: the sales contract obliges the buyer to pay the full price and asks the seller to transfer the property after receiving the last tranche. Since the obligations and actual transfer of ownership are in two separate contracts, it is very easy to protect the interests of both parties.

The seller reserves the property until the last payment and the buyer is only the owner of the purchased merchandise. If he does not pay fully, the seller can get his property back like any other owner. In the act, a summary is a brief statement containing the main elements of a lengthy legal document or several related legal documents. [1] A clear title to property is a property that clearly establishes any obligation in the obligation of ownership.