LOS SISTEMAS REGISTRALES EN EL MERCADO INMOBILIARIO E HIPOTECARIO.

Abstract

The paper analyses the main characteristics of an efficient registration system. In the author's opinion, if a property registration system is to support a suitable real estate and mortgage market, such as are essential for a people's economic development, that system must be a juridical, comprehensive system coordinated with other institutions. It must be agile, based on the most modern electronic techniques, and use the advanced electronic signature. It must be run by qualified legal scholars who scrutinise all titles submitted for registration. It must be a system that gives registered owners access to specific, summary procedures for the defence of their registered rights. It must be based, as a general rule, on the requirement that titles must be embodied in public documents in order to become eligible for registration, and it must not be monopolised by any judicial operator. Lastly, it must be a system that fully guarantees the making of contracts not only in the real estate area, but also in the mortgage area. Registration systems that support issues of mortgage bonds judged solely by their economic characteristics or systems where rating agencies do not also take into account the legal aspects of products are not trustworthy.