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- Title
LA LIMITACIÓN IMPERATIVA DE RESPONSABILIDAD POR LAS DEUDAS HIPOTECARIAS A LA FINCA HIPOTECADA: UNA IDEA TAN SEDUCTORA COMO DESACONSEJABLE.
- Authors
Méndez González, Fernando P.
- Abstract
The current crisis has given rise to intense debate on the introduction of non-recourse mortgages in Spain. This article considers whether this is a matter that should be dealt with by lawmakers. One of the consequences of an amendment in this vein would be a notable increase in the price of mortgages in Spain. Compared to the current unlimited personal liability model, much less capital could be obtained, at a higher interest rate, and with a shorter repayment period. Moreover, strategic insolvencies would increase, as well as the risk assumed by financial entities, which could in turn affect taxpayers due to bank deposit guarantees. These reasons make changing the law inadvisable. Nevertheless, certain amendments may improve the mortgage foreclosure system, such as a legislative amendment that eliminates the tax obstacles to dation in payment.
- Subjects
SPAIN; NONRECOURSE debt; DEBT laws; MORTGAGES; PERSONAL liability
- Publication
Actualidad Jurídica (1578-956X), 2011, Issue 29, p7
- ISSN
1578-956X
- Publication type
Article