tagatisvõlausaldajas

Tagatisvõlausaldaja refers to a creditor who holds collateral as security for a debt. This collateral, known as a tagatis, can be various assets, such as real estate, vehicles, or financial instruments. The purpose of the tagatis is to provide the creditor with a means to recover their losses if the debtor fails to fulfill their obligations under the loan agreement.

When a debtor defaults on their loan, the tagatisvõlausaldaja has the right to seize and sell the collateral to satisfy the outstanding debt. The specific procedures for seizing and selling the collateral are typically outlined in the loan agreement and governed by relevant Estonian laws. This process aims to protect the creditor's interests and reduce the risk associated with lending.

The existence of collateral generally makes it easier for borrowers to obtain loans, especially larger amounts or for those with less established credit history, as it provides the lender with greater security. However, it also means that the borrower risks losing the pledged asset if they are unable to repay the loan. The value of the collateral is usually assessed by the creditor to ensure it is sufficient to cover the loan amount. In cases where the sale of the collateral does not cover the full debt, the debtor may still be liable for the remaining amount, depending on the terms of the agreement.