Open AccessABOUT GAPS IN MORTGAGE LEGAL RELATIONS IN IMPLEMENTATION OF MORTGAGE SUBJECT
Author(s) -
Володимир Борисович Селевко
Publication year - 2020
Publication title -
vìsnik harkìvsʹkogo nacìonalʹnogo unìversitetu ìmenì v.n. karazìna. serìâ pravo
Language(s) - English
Resource type - Journals
ISSN - 2075-1834
DOI - 10.26565/2075-1834-2020-29-19
Subject(s) - debtor , creditor , obligation , business , law and economics , debt , law , secondary mortgage market , mortgage insurance , shared appreciation mortgage , foreclosure , economics , actuarial science , finance , political science , insurance policy , casualty insurance
The purpose of this article is to identify loopholes in the mortgage law of Ukraine, in particular if the creditor has not properly exercised his or her right to a final court decision to satisfy his / her claims at the expense of the mortgage subject, resulting in violations of subjective rights of the mortgagee.It is noted that in practice, when applying the Law of Ukraine "On Mortgage" of 05.06.2003 № 898-IV outside the sphere of legal regulation of this law there is a question of legal consequences in case the creditor did not use within a certain time his right on the basis of a court decision on satisfaction his claims on the subject of the mortgage, including termination of the mortgage on these grounds.It is noted that the issue is unsettled: whether the debtor has the right to demand termination of the mortgage agreement, if the lender has chosen a way to satisfy his claims precisely by applying the foreclosure for the mortgage through his public auction, which was decided by the court, does not take any action on enforcement of this judgment.It is emphasized that the issue of the possibility of termination of a mortgage obligation as a result of abuse by the creditor of the right to enforce the obligation is important, in particular when the value of the property transferred to the mortgage exceeds considerably the amount of credit debt of the debtor and the mortgagee (the owner of the property) with encumbered property, unable to dispose of it, waiting for a long time to properly execute the court decision. The authors believe that, because of the improper execution of the court decision and the terms of the mortgage agreement, the mortgagee should also bear the burden of liability and certain losses in this case as well. Therefore, to protect the subjective rights of both the mortgagee and the mortgagee, the authors propose to overcome the gap in the Law of Ukraine "On Mortgage" by amending Art. 17. after the second part of the new part reads as follows: "if the mortgagee has not taken any measures to realize the subject of the mortgage for the execution of the judgment". That is, through the introduction of appropriate amendments to the legislation provides legal certainty in the mortgage relationship.