Mortgage

Mortgage holder, mortgagee, property surety

The term "mortgage" is not known to everyone. However, as practice shows, many of us turn to banking institutions in order to get money to buy a house, a car, start a business or other needs.

To obtain significant funds on credit, banks often offer their clients to conclude an additional agreement (mortgage) to ensure the fulfillment of obligations under the loan agreement.

Usually, the subject of a mortgage is: an apartment, a house, a land plot, property that will become the property of the mortgager, provided that the mortgagor can document the right to the property, the ownership of which will arise in the future, etc.

There are cases when the borrower does not have enough property or does not have it at all. In such cases, banks offer the borrower to find a guarantor or property guarantor.

An ordinary guarantor is liable to the creditor jointly and severally with the debtor, and if this is provided for by the terms of the bail agreement, then the property guarantor is liable to the bank for the debtor's failure to fulfill the main obligation, exclusively within the value of the mortgage subject. There can be one surety, or there can be several of them.

In practice, the return of credit debt at the expense of the subject of the mortgage looks different. This is due to the fact that the bank has two orders for foreclosure on the subject of a mortgage: extrajudicial and judicial. These procedures are different, but both are aimed at satisfying the claims of the lender at the expense of the property of the mortgagee.

An out-of-court procedure may consist in acquiring ownership of mortgage property, obtaining a notary's executive note for the further sale of the subject of the mortgage in the order of enforcement proceedings, selling the subject of the mortgage on the grounds provided for in the agreement.

The judicial order provides for foreclosure on the subject of a mortgage by means of a court decision.

Indeed, at first glance, the borrower owes the creditor (bank) money, but is the debtor's fault absolute? Is the bank legal to carry out actions aimed at foreclosure on the subject of the mortgage specified in the agreement? In practice, these issues seem to be rather controversial.

The controversy of issues in mortgage disputes lies in the fact that the lender does not pay attention to the provisions of the laws or does not give the borrower the opportunity to voluntarily repay the debt and the like, which is essential.

The consequence of the above illegal actions of the bank may be the loss of the rights of the bank.

Having significant experience in banking institutions, lawyers of JSC Novakovska & Partners help to resolve controversial issues that a lender or borrower may have.

To date, in cases in which our association represented the interests of the principal, decisions were made in his favor.

By contacting us for help, you can get the following services (the list is not exhaustive):

• recognition of the notary's executive notation as unenforceable
• order of foreclosure on the subject of a mortgage: extrajudicial
• the order of protection in such a dispute: judicial

 

• deregistration of ownership of a bank or other financial institution
• order of foreclosure on the subject of a mortgage: extrajudicial
• the order of protection in such a dispute: judicial

 

• foreclosure on the subject of a mortgage by a court decision
• the procedure for foreclosure on the subject of a mortgage: judicial
• the order of protection in such a dispute: judicial

Cost of services from 12000 UAH

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