The balance of a closed current account

This decision provides important insight into your family and property rights. Here is what it changes for you.

The situation

The balance of a closed current account bears interest by operation of law at the statutory rate, unless the parties have agreed otherwise, until the debt has been settled in full. Accordingly, the Court of Appeal, having found that the bank had claimed interest on the balance of the current accounts of two companies, rightly ordered the guarantor to pay it.

What the law says

This decision confirms the fundamental principles of property law.

Key points to remember

• Strictly observe the statutory time limits for appeals and other legal remedies
• Keep all of your supporting documents (title deeds, legal instruments, correspondence)
• Plan ahead: preventive advice is always less costly than litigation

For an analysis of your situation: 30-minute consultation at €70 with Maître Perucca.