Mortgages to minors and incapable

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Minors or incompetents do not have the full capacity to act, but they can, in any case, enter into mortgages and grant the mortgage guarantee as third-party mortgage lenders. Their will can only be expressed through their respective legal representatives (usually parents for minor children, and guardians for interdicts).
Therefore, they will not be able to act on their own initiative, because this type of “extraordinary” operations must always be authorized by the judge.

If there is an intention to operate in this sense, it will be necessary to activate the procedures for obtaining the magistrate’s consent, which will grant him exclusively on the condition that the operation takes place in compliance with the rights of the protected subjects.

 

Can mortgages also be granted to minors and incapable persons?

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Unfortunately the reality is another, no bank is willing to grant mortgages that involve minors or incapable, due to the enormous difficulties that would arise in the case of forced debt enforcement, but nevertheless could be considered situations of imminent resolution, such as the concession of the mortgage guarantee by minors nearing the age of majority. However, in such cases the bank will request authorization from the legal department of the management, where response times are destined to be very long.

 

One way to get around this problem in purchase mortgages

One way to get around this problem in purchase mortgages

Where the problem concerns the granting of a mortgage guarantee by minors, you can set the operation with a reversal in the order of notarial deeds (sign the mortgage deed before the buying and selling, involving the seller as a third-party mortgage lender). In this way the subsequent sale would thus entail the purchase of the property already mortgaged and burdened by the debt.

Provided that the complex of the operation does not damage the rights of minors, the solution is viewed favorably by the judiciary.

Thus the bank will hold its own concerns about procedural opportunities, given that minors will not be involved in the contract.

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