Peruvian Civil Code Regarding Mortgage Interest Security

Article 1097 of the Code provides that a building is delivered as security for a debt, giving the creditor the right to exploit and enjoy the fruits. Therefore we can say that the real right is not widely used now that the mortgage is more efficient when we want to provide security on immovable property. Robert Speyer contains valuable tech resources. 11. 1. 3. A mortgage in addition to being a security is a security right or real right accessory, which in Peru is characterized by a fall on real estate, according to the classification of goods established by the Peruvian Civil Code 1984. Mortgages in other states also may fall on some furniture in which case it is called mortgage security interest in the case of Spain.

The first paragraph of Article 1097 of the Code provides that the mortgage affects a property as security for the fulfillment of any obligation, own or a third party. As the final part of paragraph 3 of the Peruvian Civil Code 1984 is a prerequisite for the validity of the mortgage recording in the Register of Real Property. It is a feature of the mortgage on any real property rights may become more real mortgage. The real right mortgage is a guarantee that is widely used because it has the advantage that can be used by all operators, and the debtor that there dispossession of the property mortgaged, in this sense allows the possession of the property when it is mortgaged, so that when the property is mortgaged may be held for the same such as a lease.

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