Mortgage Eviction

Mortgage Eviction

It means to take a property out of mortgage that is mortgaged by an institution such as a bank. In simpler terms, a mortgage is the release of a title deed to a bank as collateral.

Types of mortgage eviction

In the Constitution of the Islamic Republic of Iran, there are two types of mortgages.

Independent mortgage litigation

Independent mortgage eviction; In this case, the mortgagor gives his property to a third party, such as a bank, and undertakes to pay for the property debt at the time of payment. If the person pays his debt in full but the mortgage is not paid, he can file a claim for the obligation of the mortgage and even apply for compensation, such as non-mortgage days and legal and contractual damages.

Mortgage litigation and obligation to prepare an official document

The builders of a property may, before selling it, mortgage the property to the bank and take out a loan with it and sell the property to the buyer with a contract. In this case, the seller undertakes to appear with the mortgagor to prepare an official document in the name of the buyer. If the seller refuses to do so, the buyer can apply for a mortgage lawsuit and the obligation to prepare an official document.

If you have any questions about the mortgage and related legal provisions or you need help in preparing and implementing the provisions of the petition and the mortgage bill, our experienced consultants and lawyers in the Asia Lawyers Group will answer your questions.