Treaty mortgage

Treaty mortgage — a treaty on mortgage real estate. In the case of mortgage solutions to housing problems, the subject of mortgage usually serves residential house or apartment.

Parties to the treaty mortgage are the mortgagee (the bank issuing mortgage) and the mortgagor (borrower or sozaemschiki mortgage). The parties must be legal capacity and efficiency, that is, citizens must be at least 18 — years, as legal persons should not have restrictions on transfer of property to the mortgage specified in their founding documents.

Requirements to the contract mortgage

In contract mortgage must be indicated:

A mortgage;
Estimated value of the mortgage;
Creature, the size and term of the obligation secured by mortgage;
Right (ownership, rent, etc.), by virtue of which property is the subject of the mortgage, belongs mortgagor, and the authority of state registration of real estate rights, the right to register the mortgagor.

Subject collateral is defined in the contract mortgage indicating its name, location and sufficient to identify the subject description. That is usually in the contract specifies the type of real estate mortgages (flat or house), his full address, the overall living space and number of rooms.

House directly related to land, may be subject only mortgage with a simultaneous guarantee under the same contract mortgage land on which it is located. In the contract mortgage must specify the address of the plot of land with an area, inventory number, as well as land category and type of its authorized use.

Can not be built houses and apartments in state or municipal property, and property which can not be privatized (for example, office accommodation, etc.).

When mortgage flats in a block of flats, parts of which are in common shared property mortgagor and other persons considered to be ticking along with residential premises respective share in the common law ownership of residential house.

In granting the loan for the construction of residential homes, mortgage contract could be secured obligations under construction and owned by mortgagor materials and equipment that are harvested for construction.

Estimated value of the mortgage is determined by agreement with the mortgagor and mortgagee stated in the contract mortgage in monetary terms. In doing so, the estimated value of the land can not be set below its standard price.

Sometimes in contract mortgage hand assessments indicate some of the mortgages: for example, to assess the value of BTI and the estimated cost to conclude the company. In this case worth special note of the assessment that both sides consider a fair contract mortgage (assessment, which the parties agreed) that a contract mortgage is not considered null and void.

If provides mortgage obligations arising from the loan agreement, the contract mortgage indicate the basic conditions of credit — who is the lender and borrower, the loan amount, interest rate, period, the amount of monthly payment and loan repayment order . This is the substance, size and term of the obligation secured by mortgage — that is necessary elements of the mortgage contract.

If the parties have not agreed on at least one of the essential items, the contract mortgage considered nezaklyuchennym, no rights and obligations of the parties to the treaty does not arise and all related transactions are also invalid.

If human mortgagee certified mortgage, the mortgage contract, this should be stated. Otherwise, it is not registered.

Rights and responsibilities of the parties under the treaty mortgage

Mortgage borrower has the right to reside in embedded home or apartment, as well as at the housing register all family members. The right to conduct redevelopment, the surrender of rental or sale of mortgaged housing mortgages are usually limited in the contract — at least require the authorization of creditor banks.

In accordance with the contract mortgage mortgagee (Mortgage Bank) has the right to verify the status and conditions laid down real estate. If the rules of use of property, as well as responsibilities for the necessary insurance violated, the bank has the right to demand early repayment of the loan.

Right demands early repayment of bank also arises in the case of non-payment or late payment of debt, including in violation of the timing of making payments on mortgage loans of more than three times during the year.

When failure borrower demands for early repayment of mortgage loan, the bank has the right to impose sanction on real estate as laid in court, and extrajudicially (by signing an agreement between borrower and lender). The property mortgaged to the mortgage contract, which is drawn by a court sanction, realized through the sale of public bidding.

Conclusion and mortgage recording contract

Treaty mortgage is in writing and shall be subject to state registration in the location of the property that is the subject of mortgages. Treaty mortgage is not subject to mandatory notarial certification, but the parties of their choice (or at the request of the Mortgage Bank) has the right to do so. Mortgage Treaty is concluded and enters into force since its state registration.

For state registration of the mortgage contract requires the following documents:

Statement from the mortgagor and mortgagee;
Contract mortgage and its copies;
Documents specified in the contract as mortgage applications;
Credit or a treaty, which provides mortgage execution;
Document on payment of state taxes;
Other documents required for state registration of the mortgage in accordance with Russian legislation on state registration of real property rights and transactions with him.

If the law mortgagee certified mortgage, also represent an additional mortgage and the documents mentioned in it as annexes, and their copies.

Mortgage must be registered within 15 days from the date of submission of required documents by performing the record on mortgage in EGRP. Certifying mortgage registration by name on a contract mortgage , containing the full name of the authority conducting the registration of rights, date, place of registration and the location where it is registered.

Termination mortgage

If contract mortgage executed or has ceased to have effect for other reasons, it is necessary to pay the mortgage on the registration record. This is done on the basis of the joint statement mortgagor and mortgagee or by a court decision to terminate the mortgage. If granted a bill of sale, the repayment of the record on mortgage withdraw the document and submit the previously required by her person at his request.