Mortgage development in Serbia, specialty in Serbian Civil Code from 1844. year

Abstract

he history of Serbian mortgage law is not too long. The mortgage law began in first half of XIX century. The first Act about mortgage was The Intabulation Law from 1837. year. Mortgage is a right of lien on an immovable which autorhorises the creditor to seek satisfaction of his claim for the value of such immovable before of other creditors that do not have mortgage on it, as well as before creditors who have acquired mortgage on such immovable subsequent on him, irrespective of a contingent change of owner of the encumbered immovable. The mortgage was based on some rules. The mortgage is accessory rights. One of the basic features of a security right is its dependence on the claim. The mortgage creditor is entitled to request satisfaction of the claim from the value of immovable encumbered by mortgage, regardless of whether it is still in possession of the mortgage debitor or it has been convened into ownership of a third party. This The Intabulation Law is changed twice. For the first time in 1842 year. and second time in 1853. year. The lack of both changes was missing the principle of speciality. Principle of speciality marks the fact that a guarantee( security), may secure only a definite claim of one creditor and that the guarantee may exist only on a definite set of objects (assets). On one hand speciality of real security interest forbids securing an indefinite number of claims or an indefinite amount of claim, and, on the other, forbids the prospect of indefinite assets, or all assets of the debitor be subject of to such a security interest. This lack are eliminate in the new Intabulation Law from 1854. year, which was incorporated into Serbian Civil Code from 1844. year. The subject of this article is The Inabulation Law from 1854. year.