"Anticrético"

English translation: Antichresis (lease)

20:46 Mar 20, 2020
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s) / Lease, sale
Spanish term or phrase: "Anticrético"
It's part of Bolivian contract law. Loan for owner, lease for tenant, all in the same contract.

I can quote the explanation of the term in Spanish, but, as you may see below, the word is not translated into English. Note: This is not the text I need to translate. I need the translation of Anticrético into English or any set of words you may have used to replace it that is not too lenghty as there are space restrictions.


"Another fascinating rental method is traditionally used in Bolivia and you may occasionally see it being offered. Called anticretico, the method works as follows. In order to rent a property, you pay a lump sum to the owner at the start of the rental period. You then stay in the property for the agreed length of time – at the end of which the owner returns all of your initial payment. So in effect you pay absolutely nothing for the rental! What’s more, a contract is usually drawn up transferring ownership of the house to the renter in the event that the lump sum is not returned. Of course, there is a benefit to the owner too. Rather than receiving rental income, the owner is in effect receiving an interest-free loan and simultaneously bypassing the need to obtain approval from a bank. The owner can then earn money by using your lump sum to invest, start a business or simply earn interest in the bank."
Lara Garau
Argentina
Local time: 08:26
English translation:Antichresis (lease)
Explanation:
www.researchgate.net › publication › 222702451_Antichresis_leases_T...
28 Oct 2019 - The antichresis lease in civil law countries requires a lump sum ... While scholars and practitioners have delineated anticresis, jeonse and to a ...

books.google.co.uk › books
Alan Gilbert - 2003 - ‎Housing
Anticresis A tenure situation in which the tenant has to pay a large amount of money (often between 25 per cent and 40 per cent of the value of the house) in ...
Selected response from:

AllegroTrans
United Kingdom
Local time: 12:26
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2Antichresis (lease)
AllegroTrans
4antichretic
Lydia De Jorge
4(Bol.) front-rent loaded; (SPA) Welsh mortgage-based
Adrian MM.
Summary of reference entries provided
some refs.
Taña Dalglish

Discussion entries: 1





  

Answers


26 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
antichretic


Explanation:
https://en.wiktionary.org/wiki/antichretic

Lydia De Jorge
United States
Local time: 06:26
Works in field
Native speaker of: Native in SpanishSpanish, Native in EnglishEnglish
PRO pts in category: 122
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
Antichresis (lease)


Explanation:
www.researchgate.net › publication › 222702451_Antichresis_leases_T...
28 Oct 2019 - The antichresis lease in civil law countries requires a lump sum ... While scholars and practitioners have delineated anticresis, jeonse and to a ...

books.google.co.uk › books
Alan Gilbert - 2003 - ‎Housing
Anticresis A tenure situation in which the tenant has to pay a large amount of money (often between 25 per cent and 40 per cent of the value of the house) in ...

AllegroTrans
United Kingdom
Local time: 12:26
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 577
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  philgoddard
28 mins

agree  neilmac: My suspicions confirmed - the cognate exists! Not really my field though....
1 day 10 hrs
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Anticrético
(Bol.) front-rent loaded; (SPA) Welsh mortgage-based


Explanation:
A Welsh mortgage being rather incongruous on Bolivia. Otherwise, an old a chestnut that I've seen roasted for getting on half a century.

Anticresis (Roman law and meaningless to most ENG Common Lawyers) > payment of a mortgage with the income (rent) from the property instead of paying interest on the mortgage (West). Receivership: per an ex-ECJ translator in Luxembiurg and London High Court Insolvency Law Judge.

Note the 'translation' of the adjective as 'antichretic' in Robb and Butterworths.

Example sentence(s):
  • IATE: es anticresis en antichresis welsh mortgage pledging of the income from real property
  • Capitalized Rent means the present value (discounted semi-annually at a discount rate equal to the weighted average rate of interest borne by the Securities then Outstanding) of the total net amount of rent payable for the remaining term of any lease

    Reference: http://eng.proz.com/kudoz/spanish-to-english/law-contracts/3...
    Reference: http://www.lexico.com/definition/welsh_mortgage
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 278

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: I somehow think this is about more than simply pledging rent income to a mortgage; what if the owner doesn't have a mortgage in the first place? cadwch yn ddiogel!
10 hrs
  -> Thanks for the Welsh wishes of safety. Otherwise, exactly, no mortgage in this Bolivian scenario is implied, rather a frontloaded rental loan that can be written off cf. acreedor anticrético> mortgagee! in possession (West) = an equitable receiver?
Login to enter a peer comment (or grade)




Reference comments


30 mins peer agreement (net): +1
Reference: some refs.

Reference information:
Bolivians enjoy a unique property leasing option known as anticrético, a process where the owner of a property leases out the residence in exchange for an interest free loan for a period of at least one year.
anticrético > "against a credit" system / against a loan tenure system



What the hell is anticrético? | A GRINGO IN BOLIVIA
https://gringoinbolivia.wordpress.com/2014/08/29/what-the-he...


law | A GRINGO IN BOLIVIAgringoinbolivia.wordpress.com › https://gringoinbolivia.wordpress.com/tag/law/
Aug 29, 2014 - ... leasing option known as anticrético, a process where the owner of a property leases out the residence in exchange for an interest free loan of at least one year.


https://books.google.com.jm/books?id=YqQDIYN0ePoC&pg=PA164&l...
"against a credit" system (page 164)


Page 1 - UN-Habitatmirror.unhabitat.org › downloads › docsPDF
Bolivia's anticrético (“against a credit”) system is based on a property rental contract ... of money equal to a mutually agreed period's rent upfront, in lieu of paying.



(PDF) Access to land in Indonesia: reflection on some cases ...www.academia.edu › Access_to_land_in_Indonesia_reflection_on_some...
In Bolivia applies the “anticrético” (“against a loan”) tenure system. ... for legalization is that people can access to credit by the private financial system. ... 19 of 2004 concerning Stipulation of Government Regulation in Lieu of Law No. 1 of 2004 ...

https://en.wiktionary.org/wiki/antichresis
antichresis
(civil law) An agreement by which a debtor gives a creditor the use of real property to be able to pay interest and principal of the debt.

Taña Dalglish
Jamaica
Specializes in field
Native speaker of: English
PRO pts in category: 242

Peer comments on this reference comment (and responses from the reference poster)
agree  AllegroTrans: // and you!
1 hr
  -> Thank you. Stay safe!
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search