All such purchased mortgages and related mortgage loan documents are always covered by a lease agreement, and the buyer or its agent will not provide mortgage loan documents to a mortgage depositary unless the buyer or its agent has received from that custodian a signed tripartite custody agreement in a form acceptable to the buyer. Although the law protects surety agreements even if the parties do not sign a written contract, it is often good to conclude the agreement in writing. In this way, you can set the duration of the deposit and insert a part of damages in case of violation of the agreement. An involuntary bond must not illegally dispose of the goods or take positive measures to damage or destroy them. Lease differs from a contract of sale or a gift of property, because it is only the transfer of ownership and not its ownership. In order to obtain a bond, the taxable person must intend to possess the surety and to possess it physically. Although a surety relationship is normally contractual, there are circumstances in which the legitimate detention of the surety creates a surety relationship without an ordinary contract[2], such as for example. B an involuntary deposit. A bonding relationship between the surety and the surety is generally less formal than a fiduciary relationship. [2] A surety has the sole benefit of a surety if a surety acts free of charge (for example.B. the owner leaves the precious object such as a car or jewel in the care of a trusted friend, while the owner travels abroad without agreement to compensate his friend).

In addition, unlike a rental agreement or tenancy where the property remains in the hands of the owner, but the tenant is allowed to use the property, the tenant is generally not entitled to the use of the property while in his possession. However, a personal property rental agreement is the same as a rental bond, under which the Bailee obtains the right to use the property. [3] A surety agreement is an agreement where a person agrees to take physical possession of another person`s property for preservation or other purposes, but does not take possession of it, with the understanding that it will be returned at a later date. For example, if you take your watch to a repair shop and leave it there for a few days, the workshop physically takes possession of your watch to repair it, but receives no property. Under ancient customary law, a bailout was strictly responsible for the surety. The exception to this rule has been the case of involuntary sureties (see below) if the bond is only required at a level of diligence. A common situation that creates a voluntary bond is when a person leaves goods to someone for service (e.g.B. dry cleaning, pet care, auto-tune-up). . . .