Order of guarantee and mortgage guarantee

Mortgage guarantee refers to that the debtor or a third party uses the property as the guarantee of creditor's rights without transferring the possession of a specific property. When the debtor fails to perform its obligations, the creditor has the right to convert the property into money or have priority in compensation from the proceeds of auction or sale of the property in accordance with the provisions of the Security Law. The debtor's behavior of using his house, car and other property as his own creditor's rights guarantee is called mortgage guarantee. As a way of guarantee, Chinese laws clearly stipulate whether the debtor's related property can be used as collateral and the related mortgage order.

2024-03-24 17:00:10 2977 people helped

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Order of guarantee and mortgage guarantee

In the current legal system of our country, for those cases where the secured creditor's rights meet the conditions of collateral security and personal security, if debt Failure to repay the debt within the agreed period, or the realization agreed by both parties in advance Security interest As a specific case of creditor , you have the right to choose to realize the creditor's rights according to law;
If there are no explicit provisions in the relevant contract terms, or the provisions are ambiguous, and only the debtor has provided physical security for the creditor's rights out of its own will, then in this case, as a creditor, you should first obtain satisfaction from such collateral;
When a third party provides a physical guarantee for the creditor's rights, you also have the right to realize the creditor's rights, and you can also choose to request security according to the actual situation witness Undertake corresponding guarantee responsibilities.
After the third party who submitted the guarantee has assumed the responsibility of paying for you, they have the right to claim compensation from the debtor according to law.
Therefore, according to relevant laws and regulations, the order of repayment is as follows:
1. If the mortgage System obligor If it is provided to the creditor, you should give priority to the execution of the collateral to ensure the realization of the creditor's rights;
2. If the collateral is provided by a third party, it means that you have the right to choose whether to directly execute the collateral or require the guarantor to bear the corresponding guarantee liability for the guarantee.

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