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In the prepared article examines and analyzes the main problems of using a surety bond and other types of ensuring the fulfillment of obligations. Their interaction with hereditary legal relations is considered. In the plane of interaction of suretyship and inheritance, the author drew attention to the presence of personal elements in this type of provision, revealed what they consist of. According to the contract, the guarantor guarantees to the debtor’s creditor that the debtor will fulfill his obligation. The indication in the norm of the Civil Code of Ukraine that the guarantor vouches for the person of the debtor indicates the existence of the guaranty as a way of securing personal elements. The author proposes to understand this wording in such a way that the guarantor vouches for the fulfillment by the debtor himself, and not by some other person, being sure that the debtor will fulfill this obligation. Such a vision is manifested in the accessory nature of the scope of requirements to the guarantor, since in the event of a change in the obligation without the consent of the guarantor, as a result of which the scope of the debtor’s responsibility has increased, such a guarantor is responsible for the breach of the obligation by the debtor to the extent that existed before such a change in the obligation. A surety is qualitatively and essentially different from a pledge (mortgage), since the pledge is of a material nature and enjoys material protection. Suretyship refers to personal types of guaranteeing the performance of obligations, performed by a specific person, and legal succession to the suretyship is limited precisely taking into account its classification as a personal type of guarantee. This is important for inheritance under the principal obligation. The specificity of suretyship as a form of guaranteeing the fulfillment of an obligation indicates the presence of a significant specific weight of personal elements, which qualitatively distinguishes a suretyship from other types of security, in particular, a pledge. Personal elements accompany suretyship not only in terms of the scope of performance, but also in the area of legal succession, in particular in the event of the surety’s death. The presence of personal and even fiduciary elements in the suretyship limits succession to the obligation secured by the surety in the event of the borrower’s death. [ABSTRACT FROM AUTHOR]

American households owe more than $12 trillion in mortgages, which represents the main source of a family's debt. Scholars connect mortgages to the desire of families, especially better-off households, to seek housing in neighborhoods with good schools for their children, which tend to be more expensive. Although this perspective assumes a children–mortgage link, we do not know whether having children actually increases mortgage, nor whether and how this relationship varies by household income. To examine these issues, we use eleven waves of the Panel Study of Income Dynamics data between 1997 and 2017 and individual fixed effects, as well as propensity score matching and a quasi-experimental design. Our analyses show that generally, (1) families with children are more likely to have mortgage debt and in greater amounts; (2) it is families in the 60th to 100th income percentile who have the most mortgage debt; and (3) critically, families in the roughly 10th to 60th income percentile have more mortgage debt due to having children. These findings defy assumptions that it is well-to-do families that take on more mortgage debt as part of intensive or concerted cultivation parenting practices. Rather, our findings suggest that families who take on mortgage debt related to their children tend to be those in more economically precarious positions for whom debt for the sake of kids may be a financial burden. As such, our findings provide suggestive evidence that financially intensive parenting may contribute to growing wealth inequality among American families with children. [ABSTRACT FROM AUTHOR]

This study examines mortgage loan fallout using data provided by a leading financial institution. By accurately predicting mortgage loan fallout, lenders can protect their bottom line, maintain financial stability, and contribute to a healthier economy. The paper employs various machine learning models to predict mortgage fallout based on loan, market, property, and borrower characteristics. A large dataset of locked mortgage applications from a major U.S. lender was analyzed. The random forest model demonstrated superior predictive efficiency and stability. To understand the factors influencing mortgage fallout, the SHAP method, along with empirical analysis with logistic regression, was utilized to identify key determinants. The paper discusses the implications of these findings for mortgage lenders and future research. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Derecho Privado (0123-4366) is the property of Universidad Externado de Colombia, Departmento de Derecho Civil and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Annual of the Faculty of Law / Godišnjak Fakulteta Pravnih Nauka is the property of Pan-European University Apeiron and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article analyses property relations in post‐socialism through the analytical lens of housing studies and moral economy, specifically in the context of rental and neighbour relations in urban apartment buildings. It draws on 50 in‐depth residential biographies of residents of St. Petersburg, Russia, collected between 2017 and 2021. The interviews represent a diversity of tenures, as well as direct and indirect voices of homeowners and non‐owners. The article begins by introducing the socio‐historical context of the privatisation and commodification of housing in post‐socialist Russia. Then, based on the stories of the origin of property and the intensity of attachment to it, I analyse owners’ homemaking through daily interactions with other owners and non‐owners who act as their tenants and neighbours. Focusing on privatised, mortgaged, and inherited residential property, I identify three trajectories of complex relationships between owners and non‐owners in urban buildings and modes of homemaking, at the intersection of monetary and non‐monetary relations and imaginaries of counterparts. I argue that despite everyday interactions in the housing market and in apartment blocks, both the owners of privatised Soviet property and new owner‐occupiers tend to avoid the total commercialisation of the home and to challenge the dominance of homeownership as the only socially sanctioned tenure.

Copyright of Arts Magazine is the property of Thamar University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Human Sciences Journal / Revue des Sciences Humaines is the property of Universite des Freres Mentouri Constantine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purchase of real estate by foreigners and its full ownership in the Gulf countries has become feasible only recently. The diversification of the economies of oil exporting countries is forcing them to strengthen the role of non–oil sectors, in particular the real estate sector.A sharp increase in demand for real estate occurred, including two years ago, with the arrival of wealthy Russians on the UAE market, who decided to minimize the risks to their finances by investing in real estate in the Emirates.At the same time, despite the opening windows of opportunity for foreign investors, according to some experts, the UAE market may be overheated and a bubble, characteristic of fast-growing markets, will form, the further development of which may lead to a market decline.

Mortgage lending is one of the most popular, but expensive types of lending. State participation through incentives increases the attractiveness of mortgages, but at the same time leads to sectoral, territorial, and subjective injustice. The study objectives are to determine the reasons for the differentiation of preferential mortgage conditions for different participants, to analyze the consequences of such differentiation, as well as to justify the need and develop regulatory measures in this area. The research used domestic and foreign scientists’ scientific works in the field of preferential mortgage lending, regulatory legal acts and program and strategic documents for the development of the mortgage bank lending market, as well as data generated by the authors on the basis of official statistical materials. Methods of statistical analysis, system-logical analysis, as well as general scientific methods such as induction, deduction and synthesis are used for analytical data processing. The audit of preferential mortgage lending programs revealed discriminatory factors by industry, territorial principles, as well as in relation to borrowers and lenders. Preferential programs should be targeted, conditions should be transparent, and methodological approaches should be the same for all participants involved in the implementation of programs. Differentiation of preferential mortgage lending programs should be regulated by the state, otherwise it may lead to discrimination.

In 2003, the Republic of Slovenia adopted a new Real Property Code. One of the most significant novelties brought about by that code was the expansion of the numerus clausus of real subjective rights by introducing the institute of land debt, as a non-accessory lien, following the example of the German and Swiss institutes. The function of land debt is basically the same as the function of mortgage, i.e. to secure the provision of a specific claim or debt, but its main advantage over a mortgage is its non-accessory nature. In contrast to Germany, since its introduction, land debt has been a less frequently used institute in business practice in Slovenia. In the last few years, before its abolition in 2013, land debt came to the attention of the Slovenian public as an instrument that was almost exclusively used by suspected and accused persons to secure property in order to avoid paying debts. In this paper, the author analyzes the normative framework of this new institute, as well as the reasons for its abolition and deletion from the legal system of the Republic of Slovenia after ten years of existence.

A land administration system (LAS) is a structured framework designed to govern the management of land resources in a specific region or country. However, LAS faces challenges like inefficiencies, a lack of transparency, and susceptibility to fraud. The digitization of land records improved efficiency but failed to address manipulation, centralized databases, and double-spending issues. Traditional lease and mortgage management systems also suffer from complexity, errors, and a lack of real-time validation. At present, a significant influx of land transactions produces substantial data, classifiable as big data due to constant minute-to-minute occurrences like land transfers, acquisitions, document verification, and leasing/mortgaging transactions. In this context, we present a Blockchain-driven system that not only tackles alteration and double-spending issues in traditional systems but also implements distributed data management. Current state-of-the-art solutions do not fully incorporate crucial features of Blockchain, such as transparency, prevention of double-spending, auditability, immutability, and user participation. To tackle this problem, this research introduces a comprehensive Blockchain-powered framework for lease and mortgage management, addressing transparency, user involvement, and double-spending prevention. Unlike existing solutions, our framework integrates key Blockchain characteristics for a holistic approach. Through practical use cases involving property owners, banks, and financial institutions, we establish a secure, distributed, and transparent method for property financing. We verify the system by employing smart contracts and assess the cost and security parameters while validating the blockchain-based mortgage and lease functions.

American households owe more than $12 trillion in mortgages, which represents the main source of a family’s debt. Scholars connect mortgages to the desire of families, especially better-off households, to seek housing in neighborhoods with good schools for their children, which tend to be more expensive. Although this perspective assumes a children–mortgage link, we do not know whether having children actually increases mortgage, nor whether and how this relationship varies by household income. To examine these issues, we use eleven waves of the Panel Study of Income Dynamics data between 1997 and 2017 and individual fixed effects, as well as propensity score matching and a quasi-experimental design. Our analyses show that generally, (1) families with children are more likely to have mortgage debt and in greater amounts; (2) it is families in the 60th to 100th income percentile who have the most mortgage debt; and (3) critically, families in the roughly 10th to 60th income percentile have more mortgage debt due to having children. These findings defy assumptions that it is well-to-do families that take on more mortgage debt as part of intensive or concerted cultivation parenting practices. Rather, our findings suggest that families who take on mortgage debt related to their children tend to be those in more economically precarious positions for whom debt for the sake of kids may be a financial burden. As such, our findings provide suggestive evidence that financially intensive parenting may contribute to growing wealth inequality among American families with children.

We examine how the cost of issuing equity affects bank lending. Using the SEC rule change that allowed exchange‐listed firms with public float less than $75 million to raise equity via shelf registrations as a quasi‐natural experiment, we show that the affected banks increase mortgage lending relative to control banks. Furthermore, the affected banks reduce demand for precautionary capital and become less likely to sell mortgages to third parties. [ABSTRACT FROM AUTHOR]

In the conditions of an economic crisis, the activation of economic activity through mortgage lending becomes crucial, and the study of the development of the mortgage market in the world is necessary for a comprehensive understanding of its impact on social, economic, and financial growth. It is also essential for determining optimal management strategies for the housing sector in a specific country. The article aims to substantiate the features of the functioning of the mortgage market in the world and in Ukraine. Investigating the peculiarities of domestic and foreign mortgage markets, the authors used a statistical method to analyze the mortgage market and government mortgage credit programs in Ukraine and worldwide. Empirical evidence in the research includes data from the Ukrainian Financial Housing Company, the Ministry of Finance of Ukraine, and the Diya platform, presented using a graphical method. Abstraction, analysis, and synthesis methods formed the basis for developing recommendations for improving government programs for developing the mortgage market for housing in the world and in Ukraine. The dynamics of mortgage loans issued in Ukraine for 2019–2022 indicate a decline in mortgage loan issuance due to unstable political and economic situations. It was revealed that the restoration of mortgage lending in Ukraine is facilitated by the Ukrainian government's eOselya program, which is aimed at providing citizens with affordable housing. The specifics of mortgage lending in different countries worldwide are disclosed. The overall trend of diversity in mortgage lending conditions in the European Union indicates significant differences in approaches to housing loans in different countries. However, some positive characteristics of the mortgage market development in the EU can serve as valuable experience for reforming Ukraine's national mortgage lending market. Among them are financial and investment capacities, low cost of loans, socio-legal protection, macroeconomic stability, transparency, informational clarity, and unified regulatory approaches.

An ordinary document or charter is a document whose purpose is to write a commitment and create a guarantee for the fulfillment of the obligation. One of the conceivable challenges related to the sale of real estate is the fact that after concluding a transaction with the preparation of an ordinary document, the seller, for various reasons, puts the official document of the same property as collateral, the main ambiguity of such an action is The feasibility aspect is the criminality of the seller's act; Because in this case there is no unity of procedure and the multiplicity of votes issued is evident. This article, which has been done in a descriptive-analytical method, while explaining the different aspects of the prying transaction from the crime of transferring other people's property and proving the ability of the ordinary document to oppose the official document, shows that He denies his possession in a prying manner, and according to the law of compulsory registration of documents, the time of compiling an ordinary document is a matter of concern, if the property did not have an official document at the time of sale and the seller Preparation of a formal official document, the subject can be subject to the provisions of Article 117 of the Registration Law based on the opposing transaction; However, the existence of an official document of the property during the transaction and its transfer by means of an ordinary document, causes the subject exclusion of the seller's act from the scope of Article 117 and consequently is considered as a crime of transferable property.

The Author discusses legal consequences of the acquisition by the State Treasury of propertyleft over remaining after being removed from the court register by a housing cooperative.These consequences concern cooperative rights to real estate, mortgage encumbering therights of former members of a housing cooperative and mortgage on real estate, as well as onperpetual usufruct. In addition, the acquisition by the State Treasury gives rise to its liabilityunder contracts for the construction of premises by the housing cooperative.

During the period of monetary policy easing in Russia, mortgage refinancing became popular, which involves the issuance of a new mortgage housing loan to repay an earlier loan on more favorable terms. There is a regionally heterogeneous refinancing of mortgages at lower mortgage rates. The purpose of this paper is to quantify the impact of monetary easing on mortgage refinancing and household consumption for groups of Russian regions. Econometric methods (vector autoregression models on panel data, estimated by Bayesian methods) and multivariate clustering (hierarchical analysis, k-means method) were used in the paper. Based on the impulse response functions, it is shown that during the period of monetary policy easing, the greatest effect of lowering mortgage interest rates on refinancing is typical for groups of regions with high- and middle-income levels, a liquid housing market, and a developed mortgage market. It is proven that refinancing is involved in the transfer of the effects of monetary policy to consumer spending and consumer lending, and this transfer is heterogeneously. Refinancing in low-income regions stimulates consumption and consumer borrowing. In regions with an average and high level of per capita cash income, after refinancing, consumer spending and consumer loans are temporarily reduced. The obtained results can be explained by the different types of financial behavior of borrowers in the use of top-up mortgage refinancing, depending on the level of their cash income. Based on the results of the study, the hypothesis about the heterogeneity of the refinancing channel in the Russian regions was confirmed. The scientific novelty of the study consists in the development of a methodological approach to the study of the refinancing channel and its approbation on Russian regional data.

The study investigates the protection of the mortgagee of movables, focusing on the absence of possession of the mortgaged item and its replacement with the publicizing of the mortgage contract through registration in the unified register of rights over movable property. Additionally, the study explores the regulations that have expanded the scope of registered mortgages on movables, encompassing a majority of them. It examines the system's role in providing necessary protection for the mortgagee, allowing the mortgagor to possess the mortgaged movable. This process begins with the registration of the mortgage contract, continues during the term phase, and concludes with implementation at maturity when the debtor breaches their obligation. Consequently, the study assesses the system's efficacy in protecting the mortgage, dividing the research into two chapters based on the two periods of the mortgage. The first chapter concentrates on the systemic protection of the mortgage before the maturity of the debt, while the second addresses the period after maturity. The research concludes with a set of important results and recommendations. [ABSTRACT FROM AUTHOR]

In the conditions of an economic crisis, the activation of economic activity through mortgage lending becomes crucial, and the study of the development of the mortgage market in the world is necessary for a comprehensive understanding of its impact on social, economic, and financial growth. It is also essential for determining optimal management strategies for the housing sector in a specific country. The article aims to substantiate the features of the functioning of the mortgage market in the world and in Ukraine. Investigating the peculiarities of domestic and foreign mortgage markets, the authors used a statistical method to analyze the mortgage market and government mortgage credit programs in Ukraine and worldwide. Empirical evidence in the research includes data from the Ukrainian Financial Housing Company, the Ministry of Finance of Ukraine, and the Diya platform, presented using a graphical method. Abstraction, analysis, and synthesis methods formed the basis for developing recommendations for improving government programs for developing the mortgage market for housing in the world and in Ukraine. The dynamics of mortgage loans issued in Ukraine for 2019-2022 indicate a decline in mortgage loan issuance due to unstable political and economic situations. It was revealed that the restoration of mortgage lending in Ukraine is facilitated by the Ukrainian government's eOselya program, which is aimed at providing citizens with affordable housing. The specifics of mortgage lending in different countries worldwide are disclosed. The overall trend of diversity in mortgage lending conditions in the European Union indicates significant differences in approaches to housing loans in different countries. However, some positive characteristics of the mortgage market development in the EU can serve as valuable experience for reforming Ukraine's national mortgage lending market. Among them are financial and investment capacities, low cost of loans, socio-legal protection, macroeconomic stability, transparency, informational clarity, and unified regulatory approaches. [ABSTRACT FROM AUTHOR]

The article analyzes the Nobel Prize winners in economics of the 2022’s research results. The author explains the meaning of the terms which are necessary for the analysis: money multiplier, liquidity, mortgage, mortgage bonds. In addition, the psychological factor in the formation of critical situations in the banking sector is considered the way it was interpreted by the winners. The article analyzes the reasons which led to the lower position of the USSR’s and modern Russia’s money multiplier compared to the position of the multiplier of the countries with developed market economies including, first of all, the USA. The paper also discusses the role which the “real bills doctrine” played in the activity of the US Federal Reserve System and Ben Bernank personally. Ben Bernank’s cautious line of behavior during the overcoming the 2008 crisis is described. The model of liquidity dynamics which belongs to the laureates and that is vividly discussed in the scientific community is considered in detail.

Background: Advances in kidney transplantation and dialysis have helped millions of people with ESRD. However, cost involved in terms of initial investment, maintenance, training, skilled personnel, subsidies on consumables and drugs add to the long-term cost involved with treatment. Objectives: 1. To study the treatment expenditure, out of pocket expenditure and catastrophic expenditure during Haemodialysis. 2) To study sociodemographic characteristics of ESRD patients on Haemodialysis Methodology: It is a cross sectional study conducted in 2 government and 2 private hospitals among patients with chronic kidney disease who were undergoing haemodialysis for a minimum period of 1 month. Data was collected using preformed questionnaire containing data on socio-demographic variables, illness details, dialysis details, medications and other expenditures. Results: 65.7% of participant gave history of having insurance coverage or any assistance for dialysis. But majority of patients used their savings (69.7%), or gifts (60.2%), sold assets (51.2%), made unsecured loans (23.9%), mortgaged their lands (11.9%). In addition, 97.5% had catastrophic expenditure on dialysis. Out of pocket expenditure for dialysis per month was Rs.8,310 in government institutes and Rs.29,655 in private institute. Among private, it was Rs.11,297 rupees in ECHS patients and Rs.18,642 in other social insurance scheme Conclusion: There is a high out of pocket expenditure among dialysis patients for their session with public private disparity

In this paper, we investigate the influential factors of Federal Housing Administration (FHA) mortgage loans, focusing our research interest on peer-to-peer (P2P) lending, the most successful FinTech lending model. We consider P2P lending an alternative source of financing that marginal borrowers use to pay the increased mortgage down payment, making them eligible to receive a mortgage from conventional banks. In other words, we examine whether and to what extent P2P lending has a positive impact on the FHA loans volume by providing the ability to circumvent the loan-to-value (LTV) cap policy. As a result, P2P lending can be seen as a means for "rationed" borrowers to have access to the market by reducing inequalities and promoting financial inclusion, thus achieving Sustainable Development Goals (SDGs). We employ hand-collected data from FHA mortgages, P2P loans, and other economic factors from all 50 U.S. states during 2007–2017 and use panel data techniques for this purpose. Research shows that P2P lending, GDP per capita, population growth, broad money growth rate, interest rate, unemployment rate, new housing units, and consumer confidence Index produce effects on FHA loans. We show that P2P lending, a nonconventional determinant, is causally associated with a significant increase in the count and volume of FHA loans, implying that P2P lending has a positive impact on them. The ability of P2P to bypass mortgage supply constraints (tightened LTV caps) by providing small loans to borrowers to meet the increased down payment requirements is very important to policy-makers, as it shows that constraining the volume of mortgage loans may be not achieved. Macroprudential tools designed to control credit growth may prove ineffective, as the use of alternative forms of lending helps circumvent them and ultimately leads to excessive household leverage with all the risks that it poses to the financial system. [ABSTRACT FROM AUTHOR]

Complex disclosures have long been a major source of borrowers' poor understanding of mortgages. We examine the effect of simplifying mortgage disclosures in a difference-in-differences design around a significant disclosure rule mandated by the Consumer Financial Protection Bureau in 2015. We find that inexperienced borrowers (first-time home buyers) pay significantly lower interest rates after the disclosure regulation than experienced borrowers (repeat buyers), suggesting that simplifying these disclosures reduces mortgage interest costs. Additional tests show that the reduction in interest costs is not accompanied with more upfront noninterest costs paid by borrowers. Our cross-sectional analyses reveal two mechanisms through which simplifying disclosures lowers interest costs: curbing predatory lending and facilitating borrower shopping. We further find that disadvantaged borrowers (Black, Hispanic, and single female) benefit more from simplified disclosures. Last, we do not find that simplifying disclosures affects mortgage loan performance. JEL Classifications: G21; G5; G18; M4. [ABSTRACT FROM AUTHOR]

The US is facing an acute housing supply shortage; the result of years of underconstruction. We argue that there are four major reasons for this: restrictive zoning, high regulatory costs, high building costs, including labor and materials, and financing constraints. We then focus on four specific single family products that could benefit from removing some of these barriers: manufactured housing, modular/panelized/pre-cut housing, accessory dwelling units and housing preservation. We estimate how many units each could add. [ABSTRACT FROM AUTHOR]

Since the 1960s, there has been discussion regarding the introduction of a flexible real estate pledge law in Europe that could serve to ensure security above all for cross-border loans. Although this issue is not currently undergoing detailed analysis, due to a number of significant changes in variousEuropean legislations, including in Polish law, anticipating new solutions in mortgage law, it is worth considering anew whether they and which ones might constitute a possible model for future security in rem in European Union law. The first section of the article outlines the historical background of solutions breaking with the Roman model of accessory pledge rights, and presents a few selected modern mortgage systems, in which there has been a significant departure from the principle of pendency of collateral security on real estate above all the German, Slovenia, Swiss, French, Estonian and Hungarian systems. Slovenian practice may be taken as an example of solutions that have not worked out in practice due to abuses related to the establishing of a non-accessory pledge right to the detriment of creditors seeking the satisfaction of other debts from the property of the owner of the encumbered property.

A crucial function of wealth is to protect individuals from the consequences of adverse life events. However, sometimes wealth also implies additional financial risks. In addition to the insurance function of homeownership (the most common form of wealth), we therefore also examine financial squeezes that reflect the indebtedness and social embeddedness of homeowners and limit their options for dealing with social risks. A third hypothesis expects a trade‐off between social protection and homeownership. Taking the example of unemployment, we examine the effects of short‐term unemployment on the perceived financial situation of households based on data derived from EU‐SILC for 27 European countries. It can be shown that debt‐free homeownership reduces financial stress in the case of unemployment compared to tenants and indebted owners. A debt‐free home thus offers an additional buffer and insurance against the financial consequences of unemployment. However, indebted homeowners are particularly hard hit by unemployment because they have to use all their financial resources to pay off their mortgages. Finally, we did not find a trade‐off but a cumulation of advantages due to homeownership and generous unemployment benefits in countries with high net replacement rates.

In accordance with the principle of legal unity of immovable property, immovable property consists of parcels of land and everything permanently connected to it, whether on the surface or underground. The reform of the system of real property law in the Republic of Srpska established the legal unity of immovable property between land, building, and separate parts of immovable property, making the owners of separate parts of immovable property (co)owners of the entire immovable property (land and building). Immovable property, which is identified with land, is the object of property rights and the object of a mortgage. In accordance with the principle of extensiveness, a mortgage exists with respect to immovable property as a whole, which means that a mortgage constituted on a land also covers the building as well as the separate part of the immovable property (apartment, business space, garage, etc.). Acquisition of property rights and acquisition of a mortgage on immovable property as a whole is possible on the basis of the principle of reliance, which takes precedence over the principle of Nemo plus iuris ad alium transferre potest quam ipse habet. When it comes to buildings and separate parts of immovable property under construction, the application of the principle of mortgage extensiveness or the principle of reliance depends on the moment the property rights or a mortgage are acquired. The principle of mortgage extensiveness takes precedence if the owner of the land managed to register the mortgage before the sale of the building or separate part under construction, and vice versa, the principle of reliance takes precedence if a conscientious buyer of an apartment in a building under construction managed to register ownership before the mortgage was constituted on the land.

This paper tackles the Draft Instrument on the Judicial Sale of Ships that is currently being prepared at UNCITRAL, focusing mainly on the conditions for the judicial sale of a ship conducted in one State Party to have effects in another Contracting State (including the definition of “clean title”, the notion of ship, and problematic aspects of the sale). The article considers particularly the background of the UNCITRAL Instrument and the conditions (scope of application) for the domestic judicial sale of ships to have international effect under the Convention, paying special attention to one of the most important requirements to issue a certificate of judicial sale (conferring clean title to the ship).

Banks, as part of cooperation with insurance companies, offer customers insurances. The of insurance is securing loan repayment. Polish Financial Supervision Authority (KNF) issued a number of reports on this subject. Identified by KNF numerous irregularities and the previous nonregulation resulted in 2014 r. publish Recommendation U. After the Recommendation U the national legislator as a result of the implementation of the directives introduced many significant changes in the area of bancassurance, which fundamentally changed the way banks offer insurance and strengthened the position of consumers. The idea of offering home loans with insurance is currently being realized as part of bundling and in certain situations also in tying practices and the position of the consumer is strengthened for example by information obligations imposed on banks. The main purpose of the article is to present the definition of the concept, forms and the scope of its application by the search banks, causes and consequences of improper bundling and tying practices and to indicate repair solutions. The presented objective of the project fits in with the research gap in the literature on the subject. Currently, there are no studies that would analyze the consequences for consumers of bundling and tying practices insurance with a home loan. Methodology. In theoretical part of the article author used analysis of the literature and a review of legal regularions. In order to determine the nature of irregularities occurring in the process of offering insurance by banks author used analysis how banks offers mortgage credit with insurance. Author also used in the article several examples of complains submitted by consumer to Financial Ombudsman in the years 2017–2021. The result of the research. The research allowed to notice current irregularities that may indicate a violation of consumer interests on the bancassurance. The identified irregularities are occuring for example in offering insurance that is unsuited to the client’s needs, misleading or concluding a contract basing only verbal information. The mismatch of loan repayment insurance is largely due to deficiencies in the credit process.

The article is devoted to the development of real security for fulfillment of obligations in Ancient Greece. The article proves that the first form of real security for fulfillment of obligations was a possessory pledge. The creditor sought to obtain possession of the pledged object. This is due to underdeveloped archives in Greece (unlike in the countries of the Ancient East), the lack of land register and encumbrance registry, creditor was not sure that the debtor would not alienate pledged property by fraud. The genesis of sale on condition of release is due to emergence of signs of encumbrance of property (in Athens - horoi). A hypothec came into being later than other real security for fulfillment of obligations.

This paper examines how the macroeconomic environment affects the determinants of prepayment of mortgage loans from October 2004 to February 2020. For more accurate analysis, the authors define the timing of prepayment not only before the loan maturity but also at the time when 50% or more of the loan principal is repaid. The results show that, during the global financial crisis as well as the recent period of low interest rates, macroeconomic variables such as interest rate spreads and housing prices have a different effect compared to the normal situation. Also, significant explanatory variables, such as debt to income (DTI) ratio, loan amount ratio and poor credit score, have different effects depending on the macroenvironment. On the other hand, in all periods, the possibility of prepayment increases as comprehensive loan to value (CLTV) increases, and the younger the age, the shorter the loan maturity. The results suggest that, in the case of ultralong (40 years) mortgage loans recently introduced to support young people purchasing houses, the prepayment risk can be, at least partially, migrated by offsetting the increase in prepayment by young people and the decrease in prepayment due to long loan maturity. In addition, this study confirms that the accelerated time failure model compared to the logit model and COX proportional risk model has the potential to be more appropriate as a prepayment model for individual borrower analysis in terms of the explanatory power.

The development of various industries during crisis presupposes certain deviations from forecasts made before such situations and it should be taken into account in development strategies of industries. Identifying development trends in the investment-construction sphere during crisis can help correct strategic management of the industry, which forms an acute scientific and practical task. The goal of the research is to identify trends in development of investment and construction sphere to estimate optimum nature of its strategic management. The authors used systematization, classification and statistic analysis as methods of the research. They underline the fact that lately project bank financing has been developing vigorously, which improved safety level of holders’ investment and raised the demand on new homes market. According to the authors the Strategy of innovative development of construction industry in the Russian Federation up to 2030 makes up a fundamental document formulating the vector of its development for decades ahead. The authors came to the conclusion that today investment-construction sphere of the Russian Federation is fast developing industry and it has already restored the growth in indicators after the crisis caused by the corona virus pandemic. The outcome of the research is identified trends in the development of the investment-construction sphere in Russia during crisis and after it.

The transaction price of identical housing units can vary widely due to heterogeneity in buyer and seller preferences, matching, and search costs, generating what we term "markups" above or below the average market price. We measure markups for 3.4 million purchase‐money mortgages and show that they can predict mortgage defaults and credit losses conditional on default even after accounting for collateral coverage (loan‐to‐value ratio) and a comprehensive set of other covariates. The findings suggest that standard collateral coverage estimation may be inaccurate, with implications for both individual and portfolio‐level credit risk assessment. [ABSTRACT FROM AUTHOR]

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Law Number 4 of 1996 is the mandate of the Basic Agrarian Law, namely the unification of security institutions in Indonesia. The purpose of this study is to analyze the juridical implementation of the execution of mortgage rights based on the perspective of Law Number 4 of 1996 concerning mortgage rights on land and objects related to land (study of the execution of mortgage rights in the jurisdiction of KPKNL Banjarmasin). The method in this research uses empirical normative legal research. The results of this study: 1) Overview of Mortgage Rights in accordance with Law No. 4 of 1996 is to guarantee the debt of the taggungan holder to the debtor and the ownership of the certificate is suspended, if the dependents have been repaid then the certificate can be abolished as collateral. 2)The execution of mortgage rights in accordance with Law No. 4 of 1996 on mortgage rights carried out by KPKNL Banjarmasin is carried out with court intervention and without court intervention to provide a decision or determination of execution.

Mortgage rights are born because of the underlying agreement, namely a credit agreement. The existence of a credit agreement results in the debtor being obliged to carry out his performance in the form of debt repayment to the creditor. If the debtor defaults, a legal action is taken in the form of execution, which is generally carried out by auction on Mortgage Rights. This type of research is normative which is descriptive. The data sources used are primary data and secondary data. With literature study data collection techniques. And using qualitative data analysis methods. With the existence of executorial power in the credit agreement, the creditor as the holder of the Mortgage Rights can take action to execute the auction of the land rights charged with the Mortgage Rights. Auction with Mortgage Rights is a class of execution auction, because it is based on a credit agreement. The implementation of the execution auction of Mortgage Rights must be carried out in accordance with the procedures of existing laws and regulations, so that there is a legal certainty, both for debtors, creditors, and auction winners.

The increasing level of population coverage with housing has traditionally been among the most relevant and challenging issues for the national economy of Ukraine. The military conflict, now in its second year, is changing the priorities of the public housing policy and requiring the search for new efficient methods of restoring the lost housing stock and regulating housing construction. The article addresses the volume of capital investment in residential construction in Ukraine and explains the financial framework for residential construction regulation. World best practices in the use of financial instruments in the regulation of the industry are systematized. The authors' view of the system of financial leverage of residential construction regulation is offered. The analysis of the housing affordability indicators shows that the average household income is insufficient to purchase housing and repay a mortgage. Meanwhile, the research indicates that a mortgage is one of the most common financial instruments for the purchase of housing for Ukrainians. The analysis of the level and dynamics of mortgage interest rates shows that they are 4.6 times higher in the euro than in the EU countries. The study of modern housing practices in Ukraine emphasizes the need to introduce new principles of sustainable financial regulation in residential construction. The article substantiates a set of these principles and recommends their implementation. The assessment of modern realities and consequences of hostilities in Ukraine reveals significant losses of housing stock (about 40%) and the need to change the priorities and tasks of public housing policy. An examination of the country's recovery and post-war housing programs allows the identification of the principles of transparency, openness, inclusivity, energy efficiency, resource efficiency, and sustainability as key strategic priorities in financial regulation.

The increasing level of population coverage with housing has traditionally been among the most relevant and challenging issues for the national economy of Ukraine. The military conflict, now in its second year, is changing the priorities of the public housing policy and requiring the search for new efficient methods of restoring the lost housing stock and regulating housing construction. The article addresses the volume of capital investment in residential construction in Ukraine and explains the financial framework for residential construction regulation. World best practices in the use of financial instruments in the regulation of the industry are systematized. The authors' view of the system of financial leverage of residential construction regulation is offered. The analysis of the housing affordability indicators shows that the average household income is insufficient to purchase housing and repay a mortgage. Meanwhile, the research indicates that a mortgage is one of the most common financial instruments for the purchase of housing for Ukrainians. The analysis of the level and dynamics of mortgage interest rates shows that they are 4.6 times higher in the euro than in the EU countries. The study of modern housing practices in Ukraine emphasizes the need to introduce new principles of sustainable financial regulation in residential construction. The article substantiates a set of these principles and recommends their implementation. The assessment of modern realities and consequences of hostilities in Ukraine reveals significant losses of housing stock (about 40%) and the need to change the priorities and tasks of public housing policy. An examination of the country's recovery and post-war housing programs allows the identification of the principles of transparency, openness, inclusivity, energy efficiency, resource efficiency, and sustainability as key strategic priorities in financial regulation. [ABSTRACT FROM AUTHOR]

When a lien is established by entry in a specific public register (registry), it is a registered lien – a mortgage. According to the method of establishment, the right of lien, which is established by entry in the public register (registry), is called a mortgage. In modern real law insurance systems, an important place is occupied by lien law insurance, which allows the creditor, upon maturity of the claim, if it is not settled, to be settled from the value of the pledged thing, regardless of whether the thing at the time of settlement is owned by the pledge debtor or not. In this sense, the arrangement of lien insurance on things that are restricted in circulation for social, political and security reasons is particularly important. Thus, for weapons, a special regulation has determined the regime of legal circulation characterized by various restrictions, approvals and records of possession and ownership. Possession of weapons in the Republic of Croatia is governed by the Act on the Acquisition and Possession of Weapons by Citizens. However, the assumptions, effects and procedure for registration of a registered lien on weapons as movable property are governed by the Act on the Register of Court and Public Notary Security of Claims on Movable Property and Rights. In this regard, there are various registers in which different actual rights to weapons are registered, and which are kept by different state bodies. The paper analyses the actual legal significance (declaratory and constitutive) of the registration of weapons in various registers, the procedure and legal consequences of the registration. Open issues of establishment and transfer of lien rights, satisfaction of the lien creditor, right to possession and use of weapons as pledge are highlighted. The adequacy of the existing types of entries in the Register of Court and Public-Notary Security of Claims on Movable Property and Rights is analysed. The paper offers to provide guidelines and possible solutions for the regulation of these issues de lege ferenda that would meet the general, political and legal interests, as well as interests in private law of real rights holders on weapons. [ABSTRACT FROM AUTHOR]

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A crucial function of wealth is to protect individuals from the consequences of adverse life events. However, sometimes wealth also implies additional financial risks. In addition to the insurance function of homeownership (the most common form of wealth), we therefore also examine financial squeezes that reflect the indebtedness and social embeddedness of homeowners and limit their options for dealing with social risks. A third hypothesis expects a trade‐off between social protection and homeownership. Taking the example of unemployment, we examine the effects of short‐term unemployment on the perceived financial situation of households based on data derived from EU‐SILC for 27 European countries. It can be shown that debt‐free homeownership reduces financial stress in the case of unemployment compared to tenants and indebted owners. A debt‐free home thus offers an additional buffer and insurance against the financial consequences of unemployment. However, indebted homeowners are particularly hard hit by unemployment because they have to use all their financial resources to pay off their mortgages. Finally, we did not find a trade‐off but a cumulation of advantages due to homeownership and generous unemployment benefits in countries with high net replacement rates. [ABSTRACT FROM AUTHOR]

This note focuses on super‐priority liens (SPLs), which allow homeowner associations to foreclose a property over its mortgage. Twenty‐two states have so far implemented such liens, hoping to balance the interests of mortgage creditors and homeowner associations. The state of Nevada has been facing more challenges from both mortgage creditors and homeowner associations regarding the constitutionality of non‐judicial foreclosure than other states. This paper summaries the cases since 2000 and discusses the three major decisions that the Supreme Court of Nevada made involving SPLs' non‐judicial constitutionality, tender‐extinguishing SPLs, and federal creditors' role in SPLs. [ABSTRACT FROM AUTHOR]

The economic problems of mortgage takers, especially in light of the global financial crisis, is a very important issue, both from the point of view of housing policy and the stability of the banking sector. The analysis of the situation of mortgagors is usually limited to determining the percentage of mortgages in default. We compared the revealed mortgage repayment problems among Poles (arrears) with the unrevealed ones (such as high housing cost burden, inability to bear unexpected expenses), which we defined as housing cost stress. Next, we compared these problems with those of tenants at market rates. We found that, although we observe only a small percentage of mortgagors who are in arrears with their housing costs in Poland (about 3%), a large proportion of borrowers (about half of them) are in a difficult financial situation. At the same time, we noticed that their situation is still better than that of market rent tenants, because only one in five renters did not experience problems with covering housing costs. Among tenants, singles were much more likely to suffer from housing cost stress.

The article discusses issues related to the development trends of the Russian mortgage lending market, reveals the essence and substantiates the relevance of the introduction of virtual technologies in the process of providing mortgage loans. The main purpose of the study is to analyze current trends in the Russian mortgage lending market, identify existing problems in the process of providing mortgage loans, and develop proposals for further development and improvement of this type of lending. Particular attention during the study was paid to the peculiarities of the use of virtual technologies in the banking business. The implementation of the research goal is due to the solution of the following tasks: the current state and current trends in the Russian mortgage lending market are analyzed; shortcomings of client banking services in the organization of mortgage lending are indicated; analyzed the features of the use of virtual technologies in mortgage lending and the practice of individual Russian banks using virtual reality technologies when applying for a mortgage; the key business indicators of banks that have implemented virtual technologies are given, and the impact of the increase in the share of mortgage lending on the efficiency of their activities is analyzed. To accomplish these tasks in the course of the study, methods of scientific knowledge were used: logical, analytical, the method of comparative analysis, statistical methods of information processing. As the study showed, at present, mortgages are a key driver of growth in retail bank lending, being a reliable, high-quality and profitable asset in the loan portfolios of Russian banks, and the mortgage lending market itself is promising, dynamic, but still not sufficiently technologically advanced. The use of virtual technologies by banks will improve the quality of customer service, will contribute to the growth of mortgage lending and the further development of technological innovations in the banking sector.

The purpose of this paper is to overcome future problems, Law No. 4 of 1996 concerning Mortgage on Land and Objects Related to Land and Law No. 37 of 2004 concerning Bankruptcy and Postponement of Obligation to Pay Debts. Preventive and Repressive Legal Protection actions, however, a problem or conflict of law arises which regulates the time limit which is the source of problems between the Mortgage Law and the Bankruptcy Law, thus confusing stakeholders. The Bankruptcy Law provides a time limit of 2 months or 90 (days) after the bankruptcy decision is given and must be given to the Curator. but it is felt that it does not provide sufficient time for the Creditor of the Mortgage Holder. Because the creditor rights holders have protected their rights by the Mortgage Law which is written in article 21 of the Mortgage Law. Within 2 months, it does not mean that the creditor has to complete the execution, but within that period the creditor has started the execution process. due to the process that must be passed by the Mortgage Holder to sell the Mortgage Object. How to cite item: Risvian, M., Widhiyanti, H., Dewantara, R. (2022). Perlindungan hukum kreditor yang memegang hak tanggungan dalam kepailitan. Jurnal Cakrawala Hukum, 13(1), 29-37. DOI:https://doi.org/10.26905/idjch.v13i1.7438.

According to the Bureau of National Statistics of the Republic of Kazakhstan, there are 287 premises per thousand inhabitants in Kazakhstan regarding the number of residential premises and the average annual population. The problem of urgent housing need in Kazakhstan is being solved by the accelerated development of housing construction and by state programs for concessional lending. Housing affordability is one of the pressing issues of the socio-economic policy of any state. One of these programs is “NurlyZher”. The main measures of state support are aimed at the construction of affordable housing for the general population. To solve housing affordability issues, the “7-20-25” program was developed in 2018, which has the most significant demand. Therefore, it is essential to understand whether the population can take out a mortgage. This study builds on research by the Center for Applied Economics Research (AERC) on housing affordability in the country. This study uses two indicators, HPI and HPA, calculated for significant cities and regions. For the calculations, the official statistics of the BNS between 2015 – 2020 were used. According to results based on the HPI indicator, residents cannot save for housing with an average salary without taking into account expenses. The HPA indicator for four mortgage programs, “7-20-25” was more accessible. However, calculations were made on average data, but in practice individually. The programs developed by the state are effective since the situation with the affordability of housing has improved over the past five years.