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Nor is the distinction between the transfer of the exercise of rights and their ownership, the distinction of which is not easily intelligible and whose most similar figure, an apparent transfer of ownership, which is known in the German system, has no place in our legal system is not admissible. Finally, the fact that this assignment is registered in the Register Book of registered shares is irrelevant if such assignment is not provided for in the statutes, since said registration does not have validity to validate an ineffective act and does not, consequently, attribute a legitimation that cannot be derived from the improperly registered act.
Right to vote.- The fact that the co-owners of shares representing 70 percent of the share capital attend the Meeting directly, without appointing a person to represent them, is not a defect, provided that the company allows it and this even though the voting rights have not been exercised jointly.
Right to vote.- It is necessary to modify the article that attributes a vote to each share, when according to the Bylaws there are shares of different nominal value, otherwise the legal prohibition to create shares that alter the proportionality between the nominal value would be violated. of the share and the right to vote.
* Other issues related to this matter are examined under the headings PREVENTIVE ANNOTATION OF HEREDITARY RIGHT. ARAGON. BALEARICS. CATALONIA. COUNTER-SPLITTER. JUDICIAL DEFENDER. CHURCH. LEGACY. PARTITION. HEREDITARY RESERVE. SUBSTITUTION. WILL AND USUFRUCT.
Ordered by the Judge in a proceeding against the accountant-splitter executor the sale of hereditary assets, there is an exception to the rule of the successive tract whose relevance cannot be doubted, despite the fact that the assets were registered in the name of the deceased. of the will.
Abbreviated tract.- The lack of registration of a usufruct right, when the usufructuary has died at the time the bare owner requests the registration of his right in full ownership, does not harm the successive tract, as this would be contrary to the character voluntary registration of the usufruct and would oblige the heirs in full ownership to carry out a series of registration operations without justification and capable of being reduced to include in the registration the particularities that declare the extinction of the registered right and vicissitudes of the same with due clarity.
Abbreviated tract.- The question that arises is whether the deed of sale granted by the heir of the registry owner can be registered, without prior registration in favor of the transferor, and the solution is affirmative, according to the General Directorate, in accordance with article 20 of the Mortgage Law, provided that the operative act is granted by the person accrediting that he is the only call to inheritance and his express acceptance or it derives, by law, from the operative act whose inscription is requested.