Legal Definitions - infiduciare

Infiduciare is a historical legal term that refers to the act of pledging property. Essentially, it meant to transfer possession or control of an asset to another party as security for a debt or obligation, with the understanding that the property would be returned once the debt was repaid or the obligation fulfilled.

Here are some examples to illustrate this concept:

• Imagine a medieval farmer who needed a loan to purchase seeds for the upcoming planting season. To secure the funds from a local moneylender, the farmer might infiduciare his most valuable plow or a pair of oxen. This meant he would temporarily hand over possession of the plow or oxen to the moneylender. If the farmer successfully repaid the loan after the harvest, the pledged property would be returned to him. If he failed to repay, the moneylender could keep or sell the pledged items to recover the debt. This demonstrates the act of pledging specific property as collateral for a loan.

• Consider a merchant in the 16th century who wished to finance a new trading venture across the sea but lacked immediate capital. To obtain the necessary funds from a wealthy investor, the merchant might infiduciare a portion of his existing inventory, such as a valuable collection of silks or spices, or even the deed to a warehouse he owned. The investor would hold these assets as a pledge, ensuring that if the trading venture failed or the loan was not repaid, there would be tangible property to claim as compensation. This illustrates pledging goods or real estate as security for a business loan.

• In a feudal society, a minor noble might need significant funds to repair his castle after a siege. To secure a loan from a more powerful lord, he could infiduciare the rights to the harvest from a specific parcel of his land for a set number of years, or even a valuable family heirloom. The powerful lord would then temporarily control the income from that land or hold the heirloom as a guarantee until the noble repaid the loan or fulfilled his agreed-upon service. This shows how rights to future income or valuable personal property could be pledged.