Mortgage Institution and Possibilities of Improvement Thereof in the Latvian Law. Summary of the Doctoral Thesis

Abstract

A mortgage of a real estate is the most crucial kind of collateral in the national economy, because the mortgage is the most commonly used collateral. The mortgage plays the most crucial role in bank lending transactions – upon granting loans to borrowers (business entities and consumers) and upon establishing mortgages over pieces of real estate as a security. At the same time, the mortgage institute is universal and not limited to bank lending activities alone. Any kind of financial claims can be secured by mortgage, just like any other type of collateral. The mortgage institute has not been subject to in-depth research in the legal science of Latvia, irrespective of its widespread use as the collateral. Consequently, many topics reviewed in the doctoral thesis “Mortgage Institution and Possibilities of Improvement Thereof in the Latvian Law” (issues of third-party mortgages, issues of fictitious employment contracts, issues of accessority of the mortgage, archaism of real burdens, issues of legal framework governing non-recourse loans, issues of the prescription period of a mortgage, rights of the mortgagor to review information about the debt) have not been analysed in the legal doctrine of Latvia until now. The objective of the present doctoral thesis is to prepare a scientific justification for enhancement of the mortgage institute and to eliminate the inherent issues through amendments to the laws and regulations, analysing background of the mortgage institute, laws and regulations, case law, legal doctrine, and problems encountered in practice. The doctoral thesis is comprised of an introduction, three basic chapters further divided into several sections and subsections, closing (conclusions and recommendations) and a list of reference literature used. Structure of the thesis is chosen for a purpose to logically and consequently disclose issues inherent for the mortgage institute in both proceedings for collection of debts (under civil procedure) and insolvency proceedings. Based on theoretical analysis of laws and regulations, case law, jurisprudence, legal doctrine, problems encountered in practice, as well as theoretical analysis of scientific source literature and empiric findings obtained during the research, conclusions have been drawn and recommendations have been made that are outlined in the closing of the doctoral thesis.