Portfolio sales

The most common way to buy and sell loans is through the assignment of credit and the assumption of debt. These operations are regulated and provided for in the Angolan civil code.

• Make sure that the initial agreement does not prohibit any form of transmission.
• The effectiveness of the assignment is dependent on notification to the debtor.
• Obey the legal form of the business that serves as the basis.
• The assignment of mortgage credits when not made in a will and the mortgage falls on real estate to be made by public deed.

The credit that is the subject of assignment must comply with the following requirements:

• it must have a pecuniary nature;
• it must be unconditional;
• it cannot be litigious; and
• it cannot have been given as a guarantee or collateral.

The assignment of credits, since it is subject to the general regime of legal business, may be the object of the means of preserving the equity guarantee provided for in arts. 605 and following of the Civil Code. Consequently, it can be contested by the creditor of the assignor, in the exercise of their right of action.

In addition, the requirements and effects of the assignment between the parties are defined according to the type of business on which it is based.

The assignment may not occur when it is prohibited by law or agreement of the parties and the claim is, by the very nature of the benefit, linked to the person of the creditor.