Mortgage Contract and the Rights and Responsibilities  of the Mortgager and Mortgagee in Jurisprudence  and the Positive Law with Special Reference to  Imam Khomeini's Viewpoints

Ja&rsquo;farpour, Jamshid; Mohamamdi, Maryam

Mortgage Contract and the Rights and Responsibilities of the Mortgager and Mortgagee in Jurisprudence and the Positive Law with Special Reference to Imam Khomeini's Viewpoints

Document Type : Original Article

Authors

Jamshid Ja’farpour ¹

Maryam Mohamamdi ²

¹ Assistant Professor, Department of Law and Political Science, Tarbiat Moallem University

² Researcher and scholar of jurisprudence and Islamic law.

Abstract

One of the important contracts in the commercial transactions is mortgage contract through which the debtor gives a property as a bail to the creditor. Indivisibility, subjectivity and dependency are some of the attributes of this contract while establishment, handing over and acceptance of the mortgaged are among its principles. Salability and originality are among the conditions of the mortgaged property.
Lack of knowledge of the rights and duties incurred to the two committed parties through this contract may lead to a number of legal disputes including the rights of the mortgager, right to use the mortgage itself, payment of the maintenance of the mortgaged, and handing over the mortgaged to the mortgagee. The mortgagee has right to return or give up the subject of mortgage but on the other hand is duty-bound to maintain, manage and return the mortgaged.

Keywords

subjective right

mortgage

mortgager

mortgagee

mortgaged property