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A theme familiar to millions of Italians. The mortgage on the house regarding the loan taken out for the purchase. How to consider duration.
The practice, now rooted, combines thepurchase of a property the request and the subsequent taking out of a mortgage. The same operation inevitably involves the activation of a mortgage on the same property, in the event that the person in question is unable to repay the bank over the years protagonist of the financing, the amount initially requested. Clearly it is the mortgage that worries the citizen who relies on a bank for the purchase of his home.
Through this specific instrument, the mortgage, the credit institution to which one relies for the disbursement of sufficient money for the purchase of the property is somehow capable of securing a sort of advantage over other possible creditors, at the moment in which there may be an auction sale of the property due to failure to comply with the contracts relating to the requested mortgage. In that case the same bank will clearly be able to obtain a larger share of the possible amount proceeds from the sale following the auction.
Mortgage on the house: the moment when you are free from any danger
According to what they establish the regulations in force in our country the mortgage can be applied to properties, cars, motor vehicles, boats and aircraft. All this takes place through registration in the real estate registers, in the case of a property. These registers are managed directly by the Revenue Agency.
Mortgage Regulations – designmag.it
Subsequently, the creditor acquires his rights when the mortgage itself arises following a sentence (judicial), according to the law (legal) or following the stipulation of a contract (voluntary).
The law establishes that the duration of a mortgage registration can be of maximum twenty years. L’its extinctionInstead, is expected at the time of cancellation of registrationupon completion of the balance due, in the case of destruction of the mortgaged property or at the same deadline set as expiry for the mortgage itself.
In short, everything appears to be quite outlined and fixed through the regulations provided by our law. Furthermore, the same mortgage can lapse when ownership of the property in question is transferred following a judicial auction. In any case, the duration of twenty years is the one to be taken into consideration as a deadline beyond which you no longer run the risk of losing your property, perhaps purchased with so much effort. From this point of view, in short, citizens can feel more at ease than ever.
