The objects and characteristics of the mortgage

Mortgage loans allow us to pay for a house in installments. After we apply for a mortgage, the private mortgage lender will hold property owners up to us, as the buyer can pay the mortgage. However, in the installment period, you can still occupy property that seems to belong to our own.

In addition, you also need to understand about Mortgage Objects.

Mortgage objects, namely:

Transferable immovable and all its equipment.

The right to use the proceeds of the objects and all the equipment.

Coral reef rights and business rights.

Ground flower, whether paid with money or to be paid with the yield of the land.

Flowers as before.

Markets recognized by the government, along with their original rights, are attached to them.

Types and Characteristics of Mortgage
Mortgages have properties of material rights in general, among others:

Absolute, that is a sustainable right to the demands of anyone.

Droit de suite or zaaksgevolg, meaning the right that always follows the difference in the hands of whoever the object is located.

Droit de Preference is that a person has the right to take precedence in the fulfillment of his receivables among other indebted persons. Here the right of material security is not affected by bankruptcy or by the seizure of the object concerned.

In addition, the mortgage also has its own characteristics, namely:

Accessor means a mortgage is an additional agreement whose existence depends on the principal agreement of debt.

Ondeelbaar is an indivisible mortgage because the mortgage lies above all objects that become its object, meaning that some of the mortgage rights are not erased by the payment of part of the debt.

Contains the right to debt repayment (verhaalsrecht) only. Thus, it does not contain the right to own the object. However, if agreed, the creditor shall be entitled to sell the guarantee object concerned on his own powers (eigenmachttigeverkoop / parate execution) if the debtor is negligent.


Author: Richard T. Starkey

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