Mortgage guarantee contract

Introduction

The real estate mortgage is a real right of guarantee that falls, exclusively, on real estate and confers on its owner a right to realize the value of the mortgaged properties in order to ensure compliance with the obligation guaranteed by the mortgage. This type of mortgage promotes economic wealth as it is the origin of the so-called territorial credit.") It is generally formalized by public deed that necessarily has to be registered in the Property Registry "Registry of Property (Spain)") (or the equivalent real estate registry in each country), such registration being constitutive (if it is not registered, it is not born), due to the circumstance that the mortgaged real estate continues in possession of the mortgagor obliged to comply. It can also be constituted by the ministry of the law.[3][4].

The guaranteed obligation (loan or credit) should not be confused with the guarantee itself (mortgage), which ensures the return of what was lent. Although they are linked, mortgage credit and mortgages are different legal businesses. Thus, regardless of the loan, it can always be executed and its value realized (forced sale), without taking into consideration the owner of the mortgaged thing, or the owner of the mortgaged real right.

The real estate mortgage as a real right

The real estate mortgage is a real right of guarantee, or, a form of real guarantee, - a legal relationship between a person and a thing -, which confers on the creditor the power to carry out with preference the mortgaged real estate, through its forced sale, which definitely differs from the pledge in that the mortgage does not require the requirement of displacement or dispossession of the thing that constitutes the object of the guarantee, which will continue to be in the power of the mortgagor, and also differs from the pledge, in that the mortgage It only applies to real estate. The greatest advantage of the mortgage over the pledge lies perhaps in the fact that the mortgagee (owner of the mortgaged property) is not required to dispossess the encumbered property, nor is his power of disposal restricted, since he can sell, lease, assign, remortgage, etc., the mortgaged property. Any subsequent acquirer will receive the mortgaged asset, encumbered with the real condition, being obliged to bear the exercise of the that it entails, whoever said possessor may be (reipersecutoriality).

Mortgage guarantee contract

Introduction

The real estate mortgage as a real right

The real estate mortgage is a real right of guarantee, or, a form of real guarantee, - a legal relationship between a person and a thing -, which confers on the creditor the power to carry out with preference the mortgaged real estate, through its forced sale, which definitely differs from the pledge in that the mortgage does not require the requirement of displacement or dispossession of the thing that constitutes the object of the guarantee, which will continue to be in the power of the mortgagor, and also differs from the pledge, in that the mortgage It only applies to real estate. The greatest advantage of the mortgage over the pledge lies perhaps in the fact that the mortgagee (owner of the mortgaged property) is not required to dispossess the encumbered property, nor is his power of disposal restricted, since he can sell, lease, assign, remortgage, etc., the mortgaged property. Any subsequent acquirer will receive the mortgaged asset, encumbered with the , being obliged to bear the exercise of the that it entails, whoever said possessor may be (reipersecutoriality).

Primary characteristics of the real estate mortgage

Contenido

La hipoteca inmobiliaria es un derecho real, pues recae inmediata y directamente sobre una cosa inmueble, o sobre otro derecho real, y siempre se podrá ejecutar y realizar su valor (venta forzosa), sin tener en consideración al dueño de la cosa hipotecada, o al titular del derecho real hipotecado.

Como derecho de realización de valor, la hipoteca está concebida para permitir el resarcimiento económico del acreedor hipotecario frente al deudor que no cumple. Con este fin, el art. 12 de la Ley Hipotecaria exige que para constituirse la hipoteca deberá hacerse constar el importe de la obligación garantizada y de sus intereses, hasta un máximo de cinco años, así como el valor en que se ha tasado para subasta la finca o derecho objeto de hipoteca.

Es asimismo un derecho accesorio; la hipoteca, en general, se sustenta sobre la preexistencia de un derecho anterior y se constituye para garantizar el cumplimiento de una obligación principal, afectando un determinado bien de manera especial y prioritaria al cumplimiento de esa obligación. La obligación principal y la de garantía, o accesoria, van indisolublemente unidas de modo que si se extingue la obligación principal, no puede seguir subsistiendo la accesoria, y la garantía se extingue.

No obstante, la Ley 41/2007, de 7 de diciembre, que ha modificado la Ley Hipotecaria de 1946 en el sentido de excepcionar el dogma de la accesoriedad de la hipoteca, con el nuevo art. 153-bis de la Ley Hipotecaria, cuyo texto otorga carta de naturaleza a la llamada hipoteca omnibus, para determinados sujetos, y sólo en su modalidad de hipoteca de máximo que puede estar vigente con independencia de las obligaciones asegurables con la misma.

Asimismo el citado dogma de la accesoriedad se ha roto con la modificación del art. 4 de la Ley 2/1994, de 30 de marzo, en cuyo apartado 3 se crea la llamada hipoteca recarga.

Como derecho indivisible, hasta tanto no se cancele la hipoteca, subsiste de manera íntegra afectando a todas y cada una de las partes de la cosa hipotecada y asegurando todo el crédito, y cada una de sus partes, de modo que mientras subsista pendiente una parte del crédito, quedará íntegra la hipoteca, aunque la obligación garantizada se divida, o se extinga en parte, la hipoteca subsistirá en su integridad hasta que la deuda garantizada esté completamente saldada. La indivisibilidad no impide que con el consentimiento expreso del acreedor hipotecario, y sólo de este modo, la hipoteca se divida si, previa o simultáneamente, se ha dividido la cosa hipotecada.

Como derecho formal, para que exista se tienen que cubrir los requisitos formales para su constitución, que son: la formalización en documento público y la inscripción en el Registro de la propiedad. La falta del requisito de inscripción invalida la hipoteca incluso entre los propios contratantes.

Es también un derecho inmobiliario. Recae fundamentalmente sobre bienes inmuebles, aunque por extensión recaiga también en los bienes muebles inseparables de los inmuebles, y sobre bienes y derechos reales susceptibles de enajenación, incluso puede ser objeto de hipoteca el derecho al aprovechamiento urbanístico.

Es un derecho sobre bienes ajenos (ius in re aliena). Los bienes hipotecados deben ser ajenos y no pertenecer al acreedor hipotecario debiendo constituirse sobre cosas de titularidad distinta a la de dicho acreedor. El bien hipotecado continúa en posesión de su dueño, el deudor hipotecario, y sólo en los casos en que el valor de la cosa esté sufriendo menoscabo en perjuicio del acreedor hipotecario, éste puede pedir la posesión y administración interina para preservar su valor, mediante el ejercicio de la acción de devastación.

Main classes and types of real estate mortgage

There are many types of mortgage, but the most important are:.

Mortgage guaranteeing credits with interest: legal limits

La obligación garantizada por la hipoteca tiene que estar perfectamente determinada, así como su responsabilidad máxima, pero el efecto de dicha responsabilidad puede variar según que la misma opere frente al deudor o frente a terceros.

Es preciso por ello definir previamente al tercero hipotecario como aquel sujeto que ha inscrito su derecho que previamente ha adquirido a título oneroso, de buena fe, y trae causa de titular inscrito.

Elements and extension of the mortgage

Without closing its total number, art. 107 of the Mortgage Law lists, and specifies in twelve, the mortgageable assets and rights:.

9. The disputed assets. In any case, the mortgage will remain pending the resolution of the lawsuit.

Other mortgageable rights not contemplated in art. 107 L.H.:.

Things or rights that cannot be mortgaged: Art. 108 of the L.H. He lists them and leaves them specified in three:

In addition to the mortgaged property, the mortgage extends, naturally (natural extension), as provided in the law, to natural accessions, improvements and compensation to the owner due to the mortgaged property.

If there is an excess of space in the mortgaged property, the mortgage will also extend to the surface of the excess.

Likewise, it can be extended by express agreement between the parties (agreed extension) to the furniture and installations permanently placed on the property, and to the fruits and rents due.

Special case of extension of the mortgage to interest, expenses and costs:

If the mortgage guarantees an obligation that produces interest, the accessory obligation to pay interest is also guaranteed, unless it has been expressly agreed otherwise.

Now, if the mortgaged property becomes the property of a third party or is encumbered in some way in favor of a third party, then said mortgaged property will only be liable for the interest of two years, plus the due part of the current annuity (art. 114 of the L.H.).

This provision admits an agreement to the contrary and thus, art itself. 114 L.H., establishes that it may be agreed that the mortgage ensures interests that in no case exceed a period of more than five years.

The mortgage may also be extended to costs and expenses, also by express agreement, specifying a lump sum and separate amount that in no case may include interest.

This legal transaction falls within the characteristics of the so-called debt assumption contract, which consists of the replacement of the person of the debtor, without extinction of the original mandatory relationship.

This assignment does not operate unilaterally but must be consented to by the creditor (lending bank), who otherwise would not be harmed by the insolvency of the assignee.

When the loan is a mortgage, the assignment must be formalized in a public deed and registered in the Property Registry.

When the creditor has accepted the assignment of the debt or subrogation, the insolvency of the new debtor will not allow him to return and revive the action against the original debtor.