INTRODUCTION
The mortgage only becomes enforceable against third parties after duly completed publication in the land registration service. This opposability, if there is no renewal, applies, within the meaning of the Uniform Act organizing security interests, until the expiry date of the mortgage which, normally, is thirty years unless otherwise provided. a national law. But the cessation of the effects of the registration can also occur before the said deadline through the effect of a cancellation. The latter is “an operation which aims to make the registration non-existent or extinguished both in the relations between the parties and in the relations of the parties with regard to third parties.
The mortgage, on the other hand, is according to the new AUS “the allocation of a specific or determinable building belonging to the grantor as security for one or more debts, present or future provided that they are determined or determinable”.
Taking an interest in the issue of the cancellation of the mortgage opens up prospects for studying the modalities of cancellation of the mortgage. It is this consideration which will bind us in this subject by understanding in passing, the causes of cancellation of the mortgage and the procedure in question. However, for us it will not be a question of focusing on the effects of the cancellation of the mortgage which are only the cessation of the effects of the registration with a loss of rank of the creditor with the possibility for the latter to take a new registration unless he waives his mortgage right; which would constitute a termination of the mortgage. Cancellation removes the effectiveness of a registration which, in principle, has not expired. Which causes the creditor to lose his rank. It is therefore a serious act for the creditor. Therefore, it is important to identify its contours. This is all the more important as the cancellation is definitive even in the event of reinstatement of the mortgage, this registration is not enforceable against third parties who have acquired rights to the building in the meantime. Therefore it is necessary to ask yourself the following question: what are the terms of cancellation of the mortgage?
P.
Simler, P. Delebecque,
Civil law, Securities, Land registration,
Art. 190
FROM OHADA 2010
2023-12-24 21:40:20
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