The mortgage is valid as an enforceable title even if the amount borrowed is paid on a non-interest-bearing deposit: this has been confirmed by the Court of Pisa

The Court of Pisa rejected the complex opposition to the execution, entrusted with ten reasons, proposed against a securitisation vehicle, assisted by Cassinelli Studio Legale.

Among the grounds for opposition, it was objected that the amount borrowed by the original creditor bank would not be delivered directly to the borrowers, but constituted in the form of a non-interest-bearing security deposit, resulting in the absence of a valid enforceable title.

In this regard, adhering to the defences of the opposing creditor, the Court of Pisa ruled that “although the mortgage is a real contract, which is therefore concluded with the delivery of the sum of money, so that this constituent element of the contract can be said to be integrated, the material and physical delivery of the money in the hands of the borrower is not necessary, it being sufficient that it is ensured to the borrower by the lender that it is legally available”.

The defence was handled by Roberto Cassinelli, assisted by Giorgia Angilletta.