On the Legal Effect of Unregistered Real Estate Mortgage Contracts:Centering on Article 46 of the Interpretation of the Security System of the Civil Code of the People's Republic of China
An unregistered mortgage contract on immovable property does not produce security effects and the rules of the grant contract cannot be applied by analogy.Paragraph 1 of Article 46 of the Interpretation of the Security System specifies the creditor's right to claim registration,the creditor is free to exercise the right to claim registration and the right to claim damages for breach of contract,and assistance in registration shall be an untrue obligation of the creditor;the cause not attributable to the mortgagee in paragraph 2 shall be the application of the rule of force majeure,and the second half of the paragraph specifies the creditor's right to claim substitution;the scope of the mortgagee's damages in paragraph 3 shall be the debtor's scope of the mortgagee's damages in paragraph 3 shall be the unpaid portion of the debtor,and shall be limited by the scope of the agreed security,the rule of foreseeability,the rule of subordination of the mortgage,the rule of the period of exercise of the mortgage and the rule of negligence.The mortgagee and the debtor shall be jointly and severally liable for the liability.
mortgage contractforce majeureright to claim for compensationdamages
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