Kazachenok O.P. The Legal Structure of International Mortgage Lending in Russia and Europe
DOI: https://doi.org/10.15688/jvolsu5.2016.3.5
Olesya Pavlovna Kazachenok
Candidate of Juridical Sciences, Associate Professor, Department of Civil and International Private Law,
Volgograd State University, Base Department of the Southern Scientific Center of the Russian Academy of Sciences
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Prosp. Universitetsky, 100, 400062 Volgograd, Russian Federation
Abstract. The article examines the development of mortgage lending in Russia and its further expansion to international cross-border transactions. The author substantiates the categorical apparatus of the investigated issues. Mortgage lending, according to the author, is a comprehensive financial and legal instrument which ensures purchase and transfer by the borrower to pledge real estate and becomes a means of ensuring the return of the debtorcreditor bank loan obtained by encumbrance of real estate property right, the pledgee creditor. The author substantiates the expanded structure of complex legal instruments. We study the existing European model of mortgage lending for housing, its ability to provide complex form of mortgage lending, where the participants and the property of the transaction are distributed across multiple jurisdictions. International mortgage loans are classified by the authors according to the finding of the participants and the object of real estate transaction in one or more different jurisdictions. The conclusion is that the basic conditions for the development of residential mortgages and its varieties - International mortgage lending - in Russia is to create a resource base, improving the legal instruments of mortgage lending, stock market development in order to attract to this area of long-term investments.
Key words: mortgage, credit, international mortgage lending, bank, borrower, real estate, stock market, transaction.
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