12 Ocak 2016 Salı

Home Loans

The word "mortgage" is of Greek origin. It was first used in the legislation of Solon (VI century BC) [7, p. 470], according to which, in the land of the debtor broke a pole for everyone to know that this land is the rights of the creditor.

According to historical evidence, the land use efficiency in the mortgage and sale of land plots began to be widely practiced in Egypt during the first Millennium BC [8, p. 95]. There are two concepts of mortgage. In the narrow sense of the word "mortgage" is a mortgage of immovable property and is one of the forms of property securing the debtor's obligations, in which real estate remains the property of the latter, and the creditor in case of default by the debtor of its obligations acquires the right to obtain satisfaction through the implementation of this property. Accordingly, the mortgage loan is a loan secured by mortgage of immovable property. Distinctive features of the mortgage are as follows. First, a mortgage, like any mortgage, is a way to ensure the proper execution of other (primary) obligation - a loan or credit agreement, lease, contract, redress, etc. Therefore, a mortgage depends on this primary obligation, as outside of this relationship it is meaningless. Secondly, the subject of the mortgage is the property. Immovable property includes land and everything that is firmly connected with them, - businesses, homes, other buildings and structures. Thirdly, the mortgaged property remains in the possession of the debtor. The latter remains the owner, the user and actual owner of the property. Fourthly, the contract of the creditor and the debtor establishing the mortgage is issued by a special document - the mortgage, which is subject to notarization and state registration. Mortgage - a registered security certifying the following rights of the owner of the CE: the right to receive performance under the monetary obligation secured by the mortgage, without submission of other proofs of the existence of this obligation.

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6 yorum:

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