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Interest with Non-Jews: Difference between revisions
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→Jew Selling Non-Jew's Debt
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##Some ''poskim'' hold that this sale can be effectuated by a mechanism that local businessman accept as a binding acquisition (''kinyan situmta'') and is enforceable by secular law.<ref>Laws of Ribbis p. 255 writes that one may rely on the opinion of Ben Ish Chai (V'etchanan 23) that a non-Jew's debt can be sold with a ''kinyan situmta''. </ref> | ##Some ''poskim'' hold that this sale can be effectuated by a mechanism that local businessman accept as a binding acquisition (''kinyan situmta'') and is enforceable by secular law.<ref>Laws of Ribbis p. 255 writes that one may rely on the opinion of Ben Ish Chai (V'etchanan 23) that a non-Jew's debt can be sold with a ''kinyan situmta''. </ref> | ||
##If there is a loan document, according to many ''poskim'' the debt can be halachically sold by giving over the loan document and writing a new document for this sale.<ref>Gilyon Maharsha to 168:18, Brit Yehuda 33:24. However, this is unlike the Shach 168:61 and Shulchan Aruch Harav (69) who hold that it is impossible to sell the debt of a non-Jew even when there is a loan document.</ref> | ##If there is a loan document, according to many ''poskim'' the debt can be halachically sold by giving over the loan document and writing a new document for this sale.<ref>Gilyon Maharsha to 168:18, Brit Yehuda 33:24. However, this is unlike the Shach 168:61 and Shulchan Aruch Harav (69) who hold that it is impossible to sell the debt of a non-Jew even when there is a loan document.</ref> | ||
##When there is a moveable collateral from the non-Jew that could transferred to the second Jew with the stipulation that it is a complete sale and they have no claims upon each other.<ref>Shulchan Aruch Y.D. 168:18</ref> According to Ashkenazim, it isn't necessary to make a clear stipulation that it is a complete sale since it is assumed that this is the agreement.<ref>Rama 168:18 following the Mordechai and Rosh teshuva</ref> The purchasing Jew can make a ''[[Acquisition|kinyan]]'' on the collateral by taking the actual collateral item.<ref>Rama 168:18</ref> If the Jewish purchaser pays money to buy the collateral but does not actually take the collateral whether he acquired the collateral for purposes of collecting interest is subject to debate.<ref>Bet Yosef and Rama 168:18 hold that it is acceptable to use kinyan kesef to purchase the mashkon of a goy from another Jew since from the Torah a kinyan kesef is effective. However, Gra 168:62 disagrees with this suggestion. He holds that fundamentally the rabbis invalidated the acquisition of kinyan kesef (Tosfot Avoda Zara 63a s.v. vha). Also, even if it is a kinyan on a Torah level and not midrabbanan it would be forbidden to use this kinyan to collect interest as the rabbis introduced stringencies in the world of interest and not leniencies. Chelkat Binyamin 168:215 writes that a person should not rely on this initially but after the fact one may rely upon it. </ref> | ##When there is a moveable collateral from the non-Jew that could transferred to the second Jew with the stipulation that it is a complete sale and they have no claims upon each other.<ref>Shulchan Aruch Y.D. 168:18, Brit Yehuda 33:15</ref> According to Ashkenazim, it isn't necessary to make a clear stipulation that it is a complete sale since it is assumed that this is the agreement.<ref>Rama 168:18 following the Mordechai and Rosh teshuva</ref> The purchasing Jew can make a ''[[Acquisition|kinyan]]'' on the collateral by taking the actual collateral item.<ref>Rama 168:18</ref> If the Jewish purchaser pays money to buy the collateral but does not actually take the collateral whether he acquired the collateral for purposes of collecting interest is subject to debate.<ref>Bet Yosef and Rama 168:18 hold that it is acceptable to use kinyan kesef to purchase the mashkon of a goy from another Jew since from the Torah a kinyan kesef is effective. However, Gra 168:62 disagrees with this suggestion. He holds that fundamentally the rabbis invalidated the acquisition of kinyan kesef (Tosfot Avoda Zara 63a s.v. vha). Also, even if it is a kinyan on a Torah level and not midrabbanan it would be forbidden to use this kinyan to collect interest as the rabbis introduced stringencies in the world of interest and not leniencies. Chelkat Binyamin 168:215 writes that a person should not rely on this initially but after the fact one may rely upon it. </ref> | ||
##If the loan between the Jew and the non-Jew was oral and without any collateral or loan document | ##If the loan between the Jew and the non-Jew was oral and without any collateral or loan document the loan cannot be transferred from the first Jew and the second Jew. Therefore, it is necessary to resort another method of transferring the debt. This debt involves the first Jew forgiving the non-Jew completely and the second Jew collecting from the non-Jew that which he's owed.<ref>Shulchan Aruch Y.D. 168:18, Brit Yehuda 33:23</ref> | ||
#A Jew who lent to a non-Jew with interest can sell the non-Jew's debt from a certain date going forward. The first Jew would collect the interest until that date and the second Jew would collect from that date and on.<ref>Tur and Shulchan Aruch Y.D. 168:18</ref> | #A Jew who lent to a non-Jew with interest can sell the non-Jew's debt from a certain date going forward. The first Jew would collect the interest until that date and the second Jew would collect from that date and on.<ref>Tur and Shulchan Aruch Y.D. 168:18</ref> | ||
#The Jew can resell the non-Jew's debt for a lower interest rate than the non-Jew is giving him. For example, a Jew who lent a non-Jew $100 for 10% a year may then resell that debt to another Jew for 5% a year.<ref>Rama 168:18, Chelkat Binyamin 168:204</ref> | #The Jew can resell the non-Jew's debt for a lower interest rate than the non-Jew is giving him. For example, a Jew who lent a non-Jew $100 for 10% a year may then resell that debt to another Jew for 5% a year.<ref>Rama 168:18, Chelkat Binyamin 168:204</ref> | ||
