Foreclosure

Within everything that it implies the relationship between creditor and debtor of a mortgage loan and therefore the presence of a mortgage as collateral before default, the foreclosure process with which you can pursue that different types of results such as the Constitution, enlargement, division, registry and the extinction of a mortgage give may be, but can also be generated the invalidity, cancellation, payment or the priority of the mortgage that is guaranteed by a mortgage on immovable. The foreclosure will be then a trial that must be processed via special, there that the foreclosure is named a special trial within the applications of civil law, since the legislator in regulating this issue stipulate a process very different from the rest of judgments that can be; It must be said also that the foreclosure is an enforceable judgment. Facing foreclosure from a perspective more directed to the reality of the society by dealing with mortgages, mortgage loans and development thereof, is one of the trials that presents greater practical application within society, because as it is known a great number of people are within the relationship involved in the mortgage. In case that the foreclosure has as object the payment or the priority of a mortgage loan, must follow certain rules, among which one of the essential requirements is put on a writing credit on the basis of which the foreclosure is made to publish or at least is stipulated in a private document, in both cases according to legal provisions involving such documents; Similarly such mortgage loan that will be discussed at the foreclosure must be registered in the register public property on which rests the guarantee of the mortgage. Following the rules of a trial that has as its objective the payment or the priority of mortgage credit, the term should be already fulfilled or that might be required in the terms which have been agreed the Parties to the contract that represents the realization of the mortgage loan or also gives way to the attention of the legal terms that can be applied to the case. One point that is worth mentioning within the foreclosure, is that this will be the absence of registration in registration of property, in events such as: having the character of being the founding document of such an action, a title Executive; That good on which rests the mortgage as a guarantee of the effective payment is registered on behalf of the respondent in foreclosure; In cases in which there is an embargo or other encumbrance that this in favour of a third with a time of enrollment of at least 90 days prior before the filing of the foreclosure.