The mortgage is a real right of warranty, which normally ensures the fulfilment of an obligation of a payment of a credit or loan on a good (usually property) which, though taxed, remains in the possession of its owner and may the mortgagee, where the guaranteed debt is not met within the agreed period, promote the forced sale of the encumbered with mortgage. See also more types of mortgages on our website the mortgage, as a real right to realization of value allows mortgagee submit the mortgaged to forced sale, normally by judicial auction. In any case the mortgage is a real right that falls on a property. The mortgage is precisely to guarantee an obligation or debt. Who acquires an obligation or debt, guarantees the creditor that debt or obligation with an immovable, constituting the mortgage on said to do this well. Also the mortgage necessarily must be formalized by public deed, both the mortgage as the main contract, are they can be made in the same handwriting. The mortgage must be registered in the register of public instruments, as this requirement is essential for the mortgage to have legal validity, both so the mortgage does not imply constituted but the date in which such registration is made.
The mortgage is a form of very effective guarantee and therefore is mostly used by financial institutions of credit (banks and savings banks) in its mortgage loans, and whose confidence is has meant a noticeable development of territorial and favored credit so the creation of the so-called burbujainmobiliaria. Constitute a mortgage on real property, does not prevent the creditor can pursue the other assets of the debtor even though these goods are not mortgaged, therefore the creditor to obtain payment of the due, or compliance with contracted, can both pursue assets mortgaged as not mortgaged by the debtor. Affects mortgage the immovable and movable property that make an integral part of the mortgaged, i.e., those movable property which are immovable by accession. Then I have to say some types of mortgages: fixed: in this mode, a fixed rate for the term of the loan is set not by varying the amount of the fee. Therefore the final maturities is also unchanged. Mortgages fixed fee (or constant): mode which sets a quota that will always be the same throughout the life of the loan.