The term "mortgage" first appeared in Greece in the early VI. before tea (it has imposed Archon Solon), and was associated with the responsibility of the debtor to the creditor certain land holdings (in Athens originally served as collateral security identity debtor, in the event of non-compliance with obligations feared slavery).
For this commitment proceeding, and on the border of land owned by the borrower territory raised poles with a sign that the said property is a secured creditor's claim in the amount naimenovannoy. At such a column, called "mortgage" (from the Greek. Hypotheka-stand, kickstand), there were all debts land owner.
Later for that purpose to the use of special books, known as mortgage. Already in ancient Greece ensured transparency, which allowed each individual concerned readily ascertain the status of this land.
The new development has received the Institute of mortgages in the Roman Empire. As I in. He. e. created mortgage institutions that issue credit on bail property to private individuals.
During the period of Emperor Anthony Piya (II in. Yet. Et.) Was developed by special legislation to mortgage banks that existed along with other specialized banks and other lending institutions - proobrazami bank and savings associations.
The state often has greater support mortgage lending. Thus, when Emperor Trayane were established special funds to support widows and orphans, granting mortgage loans under 5% per annum (similar financial systems were formed in Russia at the XIX. Be true support, mainly representatives adresovalas noble Estate).
Mortgage Institute, in a relatively small time has been the evolution of the way fidutsii (from Lat. Fiducia transaction on trust, trustee for the transaction) to a more advanced stage-pignusa (from Lat. Pignus-informal pledge), and continue until mortgage.
When fidutsii object moved into property lien creditor, the latter had the right to return or to the debtor's estate after the performance of the contract, or to sell it, abandoning the monetary demands.
Pignusa Treaty provided for transferring real estate is no longer in the property and take possession of it as a guarantee for the loan obligations. The lender had no right to keep the subject in their own bail and could sell the property only in the event of failure made debtor obligations, returning the difference between the sales price and the balance of the borrower's debt.
The emergence of a classic mortgage institution was associated with the change of the policy environment of the time: the weakening of the slave economy and the massive transfer of land tenants. Initially, the new form of collateral falls tools, which lands tenants for objective reasons not to allocate land owners (landholders). Later transferred to the beginning of mortgages and real estate.
With mortgage assets remained in the possession of the debtor and the creditor receives the right to seek zakladyvaemuyu thing to follow with the sale of its bidding and compensation vyruchennoy balance of the borrower's debt. Some of the form of collateral Institute exists to date.
Along with the mortgage, caused by the agreement of the parties, imposed various legal mortgage, acting under Act (mortgage investor to invest a mortgage on the property tax non-payers, mortgages on the property custodian, mortgages wife to the husband's estate, etc.). There mortgages, subordinated to the outbreak of (the contract) or to the degree of importance (by law). Developed subsequent pledge of the same real estate more persons.
The role of the State in respect for the rights of participants in mortgage transactions has been high. Suffice it to the complex structure of the transaction required control and regulation, smooth registration system. In response to the weakening of the state functions from the twilight era of ancient world, the institution has ceased to exist mortgages in the next few centuries, before re-appear in the medieval European law.
In Germany, it appears no earlier XIV century, in France since the end of XVI century acted quiet mortgages. Mortgage extended to real estate (usually real), regardless of the change in ownership, and even then was reliable proprietary right, but only after making a special recording of a mortgage in a special book.
Related posts:
What is a mortgage
