Mortgage law provides for full transfer of property to the ownership of the buyer-borrower.However, this property is considered to be burdened, so the rights of the buyer have some limitations.In particular, without the permission of the bank's landlord can not pass it in the long-term lease or sell.
But life - is unpredictable.And the case of the circumstances, when the owner of the mortgage housing, apartment or house, forced to engage in the sale.And the first thing he must do - is to put the bank that issued the mortgage, aware of his intentions.
There are two cases in which the bank agrees to sell the mortgage property.
If you're - the mortgagee (a person who has taken shelter in the mortgage) want to improve their living conditions, just to change a flat or a house, with the permission of the bank can independently find a buyer for its residential meters and arrange purchase agreementsale in accordance with the law.Received money for housing are placed by the buyer in two cell bank safe with the expectation that in a single cell is a sum sufficient to repay a bank loan for a mortgage, and the other - the remaining part, which may be an initial payment for the purchase of mortgage housing large.After receiving the money the bank gives permission for registration of property in the ownership of the buyer.
second way of selling property.Mortgage housing (apartment or house) can be sold again only with the consent of the bank, in case of failure to repay the debt on the mortgage.In this case, the bank has the right to find a buyer for a house, an apartment or a house to buy back their own.Part of the funds obtained from the sale goes to pay off the mortgage.The remaining amount is returned to the former owner of property.
Recently there were rumors that it will soon be adopted by the law under which the bank can sell the mortgage on their own house in the case of hard-core non-payment of the loan on the mortgage, even without the consent of the owner's home.This will reduce the risks of banks on the mortgage, reducing the interest rates of the mortgage.