Welcome to BMG law firm website

Our offices are in the centre of Toulouse, along the banks of the Canal du Midi, near the Police Headquarters and in front of the County Council.

Our area of expertise : Corporate, Commercial and Tax Law.

Our approach : A down to earth approach to deliver the highest levels of service.

News

MORTGAGE AND CONSUMER CREDIT: SIMILAR STARTING POINT OF THE PERIOD FOR ADMISSIBLE LAWSUIT

The term « prescription » in French law means duration beyond which a civil or criminal lawsuit is no more admissible. It is a legal way of acquisition or extinction of rights just by the fact of having this right during a time period.

The “prescription” deals with substantive or personal law, movable or real property rights.

In Consumer Law, the “prescription” is two years long only and relates to suits brought by professionals against consumers (according to article L 137-2 of the Consumer Code).

The real estate loans were out of the field of this “prescription” until the decision of the Court of Cassation on November 28th, 2012 (civ. 1e, n°11-26508). Therefore the recovery action for real estate loans is also limited to two years.

The Court of Cassation has also decided in a recent decision on July 10th 2014 (civ. 1e, n°1315-511) that the starting point of the action is set to the day when the right holder knew or should have known of the facts necessary to exercise the relevant legal action.

Being an action for payment under a mortgage loan made by a professional to a consumer, this day is the date of the first unregulated default in payment.

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Our office address:

BMG Avocats & Associés
57 boulevard de l'Embouchure
31200 Toulouse - FRANCE
Phone +33.5 61 34 02 21
Fax +33.5 61 34 04 19
scp.bmg.avocats@wanadoo.fr

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