| Subject: Cancellation of mortgage notes in the event of unavailability of the creditor. The bill may contain a clause which declares the establishment of a mortgage as security for payment Title. It 'called the promissory notes (Paragraph. 2831 Civil Code), in which case the transfer of title by turn also involves the transmission of the mortgage.
The cancellation of the mortgage bill of exchange is, pursuant to art. 2882 \u200b\u200bof the Civil Code, upon presentation of the mortgagee's consent, consent to be issued with the forms of the art. 2821, 2835 and 2837 cc, ie with the same forms required for the registration of the mortgage (by public deed or by private deed or judicially determined), the principle that the mortgage loans as collateral for promissory notes is transmitted to Subsequent owners with the turn of the title, does not imply derogation from the fundamental to the authenticity of the act of consent to the cancellation. Article. 2887 Code also provides that to obtain the cancellation of the mortgage bill of exchange should be present when more than a consensus, the debt securities (promissory note).
If, however, the creditor can not be found or is declared unavailable to sign the deed of agreement? So that will not apply to the courts which, established a regular and full payment of the debt, which will be amply demonstrated, may provide that the mortgage is canceled, in which case the measure of Judge replaces the instrument containing the consent of the creditor and the Registrar shall perform the cancellation only upon presentation of a court order has become final (res judicata not actionable or reclamabilità with other measures). |
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