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Nanchang Regulations on Urban Real Estate Mortgage
PubTime:10-03-16 05:26:00
Information type: regulations   
File No.:  
Public mode: proactive
Creation date: 2008-10-09 00:00:00    
Public time: all year round  
Public scope: the whole society
Information accession no.: A00000-0201-2008-0037
Responsible department: Comprehensive Division, Legislative Affairs Office, the People's Government of Nanchang City
(Passed at 33rd Meeting of the Standing Committee of Nanchang Municipal 10th People's Congress on Sept. 26, 1996, and approved by 24th Meeting of the Standing Committee of Jiangxi 8th People’s Congress on Oct. 19, 1996, in accordance with Modified Amendment passed by 19th Meeting of the Standing Committee of Nanchang 12th Municipal People’s Congress on Oct. 29, 2003 and approved by 6th Meeting of the Standing Committee of Jiangxi 10th People’s Congress on Nov. 27, 2003.)
   Article 1 In order to strengthen the administration on the urban real estate mortgage, maintain the order of the real estate mortgage market and ensure the legal rights and interests of concerned parties, the regulations are formulated in accordance with Law of the People's Republic of China on Administration of the Urban Real Estate and Guarantee Law of the People's Republic of China, related laws and regulations and combination with the urban reality.
   Article 2 Real estate mortgage, prepaid commodity house loan mortgage, loan for projects under construction and mortgage management within urban planning state-owned land of Nanchang shall obey the regulations. 
   Article 3 The real estate mortgage in the regulations refers to the action that the debtor or third party provides the loaner with the irrecoverable debt performance to acquire the housing ownership and land use rights within the occupied area of the house by lawful means.
   The prepaid commodity house loan mortgage in the regulations refers to the action that the house buyer pays the first installment, and the load pays the balance house payment on the basis of interest and the prepaid commodity house as a loan guarantee.  
   The mortgage for the projects under construction refers to the action that the mortgager takes the land use rights acquired by legal means complete with invested capital on the projects under construction as the irrecoverable guarantee of bank loan on the basis of the interest, in order to gain the loan to continuously construct the real estate projects.
   The debtor or the third party in the Article 1 refers to the mortgager and the loaner refers to the mortgagee.
   Article 4 The mortgage activities of the real estate shall be in compliance with the principle of equality, free will, impartiality and honesty.
   Article 5 The mortgage of the real estate shall be registered and the mortgage contract of the real estate shall be into effective from the date of registration.
   Article 6 Municipal or county people’s government department of real estate administration (hereinafter referred to as the department of real estate administration) is the authority of the registration of the real estate mortgage of the same level government, and carries out the unified management on the registration of the real estate mortgage.
   Municipal or county people’s government department of state land and resources, price, financial, administration of industry and commerce and tax shall cooperate doing the real estate mortgage well as per own responsibilities, and supervise and inspect the real estate mortgage in accordance with laws.
   Article 7 Housing ownership and land use right within the house occupancy area acquired by lawful means may be set as the mortgage. 
   Housing ownership complete with land use right within the house occupancy area shall not set as the mortgage separately.
   Article 8 The debt guaranteed by the mortgager shall not exceed the value of mortgaged real estate. 
   After the real estate is mortgaged, the balance of non guaranteed amount of the real estate may be mortgaged again, but less than the balance above.
   If the same real estate is mortgaged for more than two times for different mortgages, the mortgager shall inform the mortgagee the mortgaged information by a written form. 
   Article 9 If the completed part of the projects under the construction is mortgaged, the land use rights of the completed part shall be mortgaged.
   Article 10 If the payment of the prepaid commodity house is mortgaged, the commodity house development project shall be in compliance with conditions to transfer the real estate, and acquire the forward sell license for commodity house.
   Article 11 The real estate mortgage is brought by national preferable policies; the owner of the mortgaged real estate may by subject to shares and benefits.
   Article 12 If the real estate is mortgaged as shares, the debt guaranteed shall not exceed the shares held by the mortgager.
   If the collective real estate is mortgaged, the collectivity shall issue the written consent. The mortgager herein refers to the collectivity.
   Article 13 If enterprises mortgage the real estate ownership, the mortgage period shall not exceed the expiry period of the land use rights gained by the enterprises by lawful means.
   If the enterprises under the operational period mortgage the real estate, the mortgage period shall not exceed the expiry period of the enterprises.
   Article 14 The real estate, having one of the followings, shall be not mortgaged.
   (1) The ownership is in dispute;
   (2) The completed houses are not registered and the House Ownership Certificate and the Certificate for the Use of State-Owned Land not issued;
   (3) The owner of the House Ownership Certificate is different from that of the Certificate for the Use of State-Owned Land;
   (4) The collective real estate is not consented by others in a written form;
   (5) Educational facilities, medical and health facilities and other social public facilities of such public service units and social associations as schools, kindergartens and hospitals based on public benefit. 
   (6) Listed as relic protection;
   (7)Public house already rented;
   (8) Listed into announced removal range in accordance with laws;
   (9) The sealed, detained and supervised houses in accordance with laws;
   (10) Others that shall not mortgaged in accordance with laws and regulations.
   The real estate enterprises of developed commodity houses shall be not mortgaged on the pre-sold commodity houses.
   Article 15 The party of the real estate mortgage shall sign the mortgage contract.
   The mortgage contract shall have the following articles:
   (1) Name and address of the party;
   (2) Site, type, structure, area, value, ownership, use right certificate and certificate No. of the mortgaged real estate;
   (3) Debt amount and period of mortgaged real estate; 
   (4) Responsibilities of the mortgaged real estate to be destroyed or damaged accidentally;
   (5) Liabilities for breach of contract
   (6) Conditions to cancel the mortgage contract; 
   (7) Modes to solve the disputes of parties;
   (8) Other items to be engaged at the discretion of parties;
   (9) Time and place of signing the mortgage contract.
   Article 16 Where the mortgage contract of the real estate is entered, the parties shall not agree that the ownership of the mortgaged house and the land use rights within the house occupancy area will be transferred to the loaner upon the debt not fully paid by the debtor in the expiry period of the mortgage.
   Article 17 The parities shall register the real estate mortgage in the department of the real estate administration after signing the mortgage contract.
   The following documents shall be provided upon registering the real estate mortgage:
   (1) Application of registering the mortgage; 
   (2) Main contract and mortgage contract;
   (3) House Ownership Certificate and Certificate for the Use of State-Owned Land;
   (4) ID of mortgage parties or legal representative’s qualification;
   (5) Data to verify the value of the mortgaged real estate;
   (6) Other documents to be submitted in accordance with laws and regulations.
   Article 18 The parties, where registering the following real estate mortgage, shall submit the corresponding documentary evidences, except the documents specified in Article 17.2:
   (1) Shall submit the approval of land and resource department to mortgage the real estate of the land use rights acquired by transfer; 
   (2) Shall submit the approval document of employee representative congress or employee congress to mortgage the real estate of the collective enterprises;
   (3) Shall submit the approval documents of board of directors or general meeting of share holders to mortgage the real estate of limited and joint stock companies, unless otherwise provided by the Articles of Association.
   (4) Shall submit the approval documents of board of directors to mortgage the real estate of Sino-foreign contractual joint venture, Chinese-foreign contractual joint ventures and foreign-owned enterprises; unless otherwise provided by the Articles of Association. 
   (5) Shall submit the ownership of original house and notarized contract of removal and relocation to mortgage uncompleted house for removal and relocation.
   The legal representatives of state-owned enterprises, state holding enterprises, state share holding enterprises, where mortgaging the operated and managed real estate by state authorization, shall be in compliance with state assets administration.
   Article 19 Registration of the real estate mortgage shall be done in compliance with the following:
   (1) The parties shall sign written mortgage contract in accordance with Article 15;
   (2) The parties, if holding the documentary evidences specified Article 17 or 18, shall apply to the department of the real estate administration for registering the mortgage;
   (3) The department of the real estate administration shall reply to the party on the review of the mortgage conditions within 5 days after acceptance; 
   (4) The party may discuss the value of the real estate in compliance with the mortgage, also may entrust the qualified evaluation institute of the real estate established in accordance with laws to evaluate;
   (5) The department of the real estate administration shall note number and date, stamp the seal on the mortgage contract, issue the Certificate of the Other Rights of the House and note the mortgage on the House Ownership Certificate.
   The register authority shall note the mortgaged presales commodity houses and projects under construction on the mortgage contract. If the mortgaged real estate is completed within the mortgage period, the party shall renew the registration of the mortgaged real estate after the mortgagor receives the house ownership certificate; in which, the party shall apply for modifying the registration of the mortgaged real estate if the presales commodity house contract is performed.  
   The Certificate of the Other Rights of the House is held by mortgagee and the mortgaged and registered House Ownership Certificate is by the mortgager.
   Article 20 The mortgage and registration data of the department of real estate administration shall be public to allow the parties or related institute reading, transcription or copy
   Article 21 The mortgager, if renting the mortgaged house, shall inform the rental of mortgaged house to the mortgagee by a written form, and inform the mortgagee the mortgage that the original rental contract is still in effective. 
   The rental contract of the rented house, if its ownership is changed by the performance of guaranteed debts, shall be in effective in the rental period.
   Article 22 The mortgager, if transferring the mortgaged real estate within the mortgage period, shall inform the mortgagee and the transferee that the real estate is transferred and mortgaged. The transfer upon the mortgager not informing the mortgagee or the transferee is invalid.  
   If the transfer price of the real estate is largely lower than its value, the mortgagee may request the mortgager to provide the corresponding guarantee. The transfer shall be not made if the mortgager refuses to provide the guarantee.
   Article 23 If the mortgager's conducts cause the value of mortgaged real estate reduced, the mortgagee shall reserve rights to request the mortgager to stop the conduct and resume the value of mortgaged real estate.
   If the mortgager has no fault on reducing the value of mortgaged real estate, the mortgagee may only request the mortgager to provide the guarantee within the range that the mortgager is compensated for damage. The unreduced part of the mortgaged real estate is still for the guarantee of the debt.
   Article 24 The mortgage and the guaranteed debt are exiting and cancelled at the same time.
   Article 25 If the debtor fully performs the debt, the mortgage contract of the real estate signed for debt guarantee shall be cancelled and the mortgagee shall return the Certificate of Other Rights of the House to the mortgager.
   The mortgager shall cancel the mortgage procedures in the department of the real estate administration by the voucher to perform the debt, the Certificate of Other Rights of the House and the House Ownership Certificate registered for the mortgage within 15 days after the contract cancellation.
   Article 26 If the mortgage procedures of the real estate are not registered and the regulations are violated, the mortgage contract shall be invalid and the damages and losses occurred shall be compensated by the responsible party.
   Article 27 The mortgager, if hiding Article 14.1, 14.4 to 14.9 of the regulations and causing the mortgage invalid, shall bear the occurred responsibilities in accordance with laws.
   Article 28 The department of the real estate administration, if violating the Article 19 of the regulations and causing the losses to the party, shall bear the compensation responsibilities in accordance with laws.
   Any supervisory and management person of the real estate mortgage who abuses his power or neglects his duty shall be subject to administrative sanction. The prosecution for criminal responsibility shall be undertaken according to laws.
   Article 29 The real estate price evaluation institute, if having errors in evaluating the real estate and causing the losses to the party, shall bear the compensation responsibilities in accordance with laws.
   The real estate price evaluation institute may make compensation recovery from the evaluation personnel who signed his name.
   Article 30 The department of the real estate administration, where registering the real estate mortgage, shall carry out the charging standards and items of charging in accordance with the approval of national and provincial financial and price departments.
   Article 31 The real estate mortgage within other state land range of Nanchang City shall be under the real estate administration and reference to the regulations.
   If the land use rights without any fixture are mortgaged, the part shall register the certificate of land use rights issued by state land and resource department.
   Article 32 The regulations shall become effective as from the date of promulgation.


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