Mortgage Agreement - Mortgage Law - Dragana Djordjevic, attorney

Mortgage Law governs the mortgage, for the purpose of securing and collection of claims. A mortgage is a lien right on real estate, which empowers the creditor, in the event of the debtor’s failure to pay a matured debt, to request the collection of claim secured by the mortgage from the value of the real estate prior to the ordinary creditors and prior to junior mortgage creditors, regardless of who is in the possession of the real estate.

Mode of Institution and Types of Mortgage

A mortgage is instituted by registration in the competent real estate registry, on the basis of:

Agreement or a judicial settlement (contractual mortgage)
Mortgage deed (unilateral mortgage)
Statute (statutory mortgage)
Court decision (judicial mortgage).

The contractual mortgage rules apply mutatis mutandis to unilateral, statutory and judicial mortgage, unless otherwise provided by law. Continue reading Mortgage agreement →

Provisions of the Law on Enforcement and Security Interest regulate the procedure in which courts and public enforcement officers conduct the compulsory collection of enforceable creditors’ claims based on enforceable and credible documents(enforcement proceedings), the procedure for putting a lien on claims and the status of public enforcement officers.

Enforcement proceedings and security interest proceedings are initiated by a judgment creditor filing a motion for the enforcement based on enforceable or credible document or a motion for security interest, or ex officio only when so provided for by the law.

A court decides on the motion for enforcement based on enforceable or credible document and on the motion for security interest. Continue reading Enforceable and credible document as ground for rendering of decision on execution →