Immobiliarsicherheiten in England, Schottland und Deutschland, oder: Mortgage, charge und standard security versus Hypothek, Grundschuld und Sicherungsübereignung.

Abstract

Abstract: The following paper deals with the national law in England, Scotland and Germany governing real securities over land. After an introduction (under I) a short outline over the generally possible interests in land and their protection within the three considered legal systems follows (under II) to allow a better understanding of some special terms. A brief comparison concludes this overview. In the main part (under III) the different types and contents of real securities over land are shown, compared and discussed. Especially their technical construction (under 1), the English equitable mortgages and charges over legal interests in land (under 2), other rights in land, such as the English equitable interests in land, as security (under 3) and the possibility of a conveyance of land as security (under 4) are examined. Here it is focused especially on the law?s consideration of the arising practical needs and interests of mortgagor/chargor and mortgagee/chargee as well as on the systematical clearness of the law. In the final conclusion (under IV) it is pointed out that within the rules governing real securities over land there are similarities as well as differences between the three legal systems. However the differences partly result from general phenomena which are sometimes deeply rooted in the legal system. Since their harmonisation does not seem probable in the near future the creation of a special international ?land charge or mortgage? is finally recommended.