What does a title mortgage mean, what does a property mortgage mean

Mortgage refers to an agreement between the mortgagor and the mortgagee (creditor) in writing not to transfer the possession of the mortgaged property and to use the property as security for the creditor's rights. When the debtor fails to perform its debts, the creditor has the right to be repaid in priority at the price of the property or the price of the auction or sale of the property in accordance with the law. Mortgages are mainly divided into the following types:

1. Real estate mortgage.

Refers to a mortgage created with immovable property as collateral. The so-called immovable property refers to the property that cannot be moved or will lose its original value or use value after moving, such as land (in China, it is limited to the right to use construction land and the right to contract and operate land that can be mortgaged), buildings and other land attachments (such as houses, etc.).

2. Chattel mortgage.

Refers to a mortgage created with movable property as collateral. Movable property refers to property that can be moved and does not affect its use value or reduce its value after being moved (in China, it is limited to special movable property such as transportation).

3. Mortgage of rights.

It refers to the mortgage of various property rights as the object of collateral under the law, and according to the current Chinese law, the rights can only be used for pledge.

4. Consortium mortgage.

Also known as enterprise mortgage, it refers to the mortgage made by the mortgagor (enterprise) with the aggregate of all its movable property, immovable property and rights as the object of the mortgage; This type is a collection of various types of security and is not a statutory mortgage.

5. Co-mortgage.

Also known as an umbrella mortgage, it refers to a mortgage created on several different properties for the purpose of securing the same claim, which is actually a collection of various types of security, and is not a statutory mortgage method.

6. Maximum mortgage.

It refers to the agreement between the mortgagor and the mortgagee to use the collateral as security for the claims that occur continuously within a certain period of time within the maximum limit.

A mortgage on a property means that the owner of the property uses the deed as collateral to obtain a loan to pay interest on time. The property rights of the house are still managed by the property owner, and the creditor only pays the interest on time, but does not have the right to use and manage the house. If the debtor fails to perform its debts, the creditor has the right to dispose of the mortgaged house in accordance with the law and receive priority in the payment of the proceeds from the disposal of the mortgaged house.

The party who provides the mortgaged house is called the mortgagor, and the original creditor who accepts the mortgaged house is called the mortgagee. The mortgagor must have full civil capacity, and a person who has no capacity for civil conduct and limited civil capacity may not create a mortgage on the house.

Legal basis: Civil Code of the People's Republic of China

Article 395:Within the scope of mortgaged property, the following property that the debtor or a third party has the right to dispose of may be mortgaged:

1) Buildings and other land attachments;

2) the right to use construction land;

3) the right to use maritime space;

4) Production equipment, raw materials, semi-finished products and products;

5) Buildings, ships, and aircraft under construction;

6) means of transport;

7) Other property that is not prohibited by laws or administrative regulations from being mortgaged.

The mortgagor may mortgage the property listed in the preceding paragraph.

Article 399:Within the scope of property that is prohibited from being mortgaged, the following property shall not be mortgaged:

a) land ownership;

2) The right to use collectively owned land such as homesteads, self-reserved land, and self-maintained mountains, except where the law provides that it may be mortgaged;

3) Educational facilities, medical and health facilities, and other public interest facilities of non-profit legal persons established for public welfare purposes, such as schools, kindergartens, and medical institutions;

4) Property whose ownership or right to use is unclear or disputed;

5) Assets that have been sealed, seized, or supervised in accordance with law;

6) Other property that laws and administrative regulations provide must not be mortgaged.

Article 400 In a mortgage contract, the parties to a mortgage contract shall conclude the mortgage contract in writing.

Mortgage contracts generally include the following clauses:

1) the type and amount of the secured claim;

2) the time limit for the debtor to perform the debt;

3) The name and quantity of the mortgaged property;

4) Scope of Guarantees.

Legal Analysis: A mortgage refers to the fact that the owner of the house applies for financing or loans from a financial institution as a guarantee for the deed of the creditor's rights. After the mortgage is processed, the house is still managed by the owner of the house, and the lender only receives interest on a regular basis, and does not have the right to use or manage the house.

When all the borrowings have been repaid, the borrower has the right to repossess the title deed and at the same time repossess the mortgaged property. If the borrower fails to repay the loan on time when due, or fails to fulfill the repayment obligation for a long time, the lender has the right to sue the borrower in court and ask the court to auction the mortgaged house and give priority to the repayment of the loan with the funds obtained.

Legal basis: Article 394 of the Civil Code of the People's Republic of China Where the debtor or a third party does not transfer possession of the property and mortgages the property to the creditor in order to guarantee the performance of the debt, the debtor fails to perform the due debt or the mortgage rights are realized as agreed by the parties, and the creditor has the right to be repaid in priority for the property. The debtor or third party provided for in the preceding paragraph is the mortgagor, the creditor is the mortgagee, and the property provided for by the guarantee is the mortgaged property.

Housing mortgage refers to the act of providing a guarantee for the performance of debts to the mortgagee by the mortgagor with its legal real estate in a way that does not transfer possession. When the debtor fails to perform its debts, the creditor has the right to be repaid in priority with the price obtained from the auction of the mortgaged real estate in accordance with the law.

What are the requirements for applying for a mortgage?

1. The actual age at the maturity date of the loan is generally not more than 65 years old.

2. Have a proper occupation and stable income to come to Wuzhi Zhaoyuan, and have the ability to repay the principal and interest of the loan on time.

3. Willing and able to provide mortgage on the property approved by the lender; The co-owners of the property agree to the relevant borrowing and guarantee acts and are willing to bear the relevant legal liabilities.

4. The property rights of the mortgaged house should be clear, meet the listing and trading conditions stipulated by the state, and can enter the real estate market for circulation, without any other mortgage.

5. The mortgaged house is not included in the local urban reconstruction and demolition plan, and has the real estate certificate and land certificate issued by the real estate department and the land management department.

6. The owner of the collateral can be the borrower himself or others.

Get a mortgage on your home.

1. Loan application: the borrower proposes the purpose of the loan, the amount and the term of the loan;

2. Prepare loan materials;

4. Loan approval: submit all loan application materials together with the appraisal report or survey opinion to the bank for approval;

5. Notarization of loan contract;

6. Mortgage registration procedures;

7. Account opening and lending.

Title Deed Mortgage Requirements.

Lender's qualifications:

First of all, the actual age of a natural person with full capacity for civil conduct at the maturity date of the loan is generally not more than 65 years old; secondly, they have a permanent residence in Beijing and a fixed rented residence; Have a proper job and a stable income**, and have the ability to repay the principal and interest of the loan on time; third, be willing and able to provide a mortgage on the property approved by the lender; Fourthly, the co-owners of the property agree to the relevant borrowing and guarantee acts and are willing to bear the relevant legal liabilities.

Conditions of the mortgaged property:

The property rights of the house should be clear, meet the conditions for listing and trading stipulated by the state, and can enter the real estate market for circulation, without any other mortgage; The age of the house (calculated from the date of completion of the house) + the loan term is not more than 40 years; The mortgaged house is not included in the local urban reconstruction and demolition plan, and has the real estate certificate and land certificate issued by the real estate department and the land management department; The owner of the collateral can be the borrower or someone else. If the mortgagor is mortgaged by a property owned by another person, the mortgagor must provide a written undertaking to allow the borrower to apply for a loan with the property as collateral, and require the mortgagor and his or her spouse or other co-owners of the property to sign.