Part II

Vlad PELIGRAD, Ph.D. in Law, Assistant Professor, Mortgage over a Future Building
Until 1999, granting a mortgage over a future building was not possible in Romania and financing  real estate investments was burdened due to the necessity of having a separate asset to mortgage or the increased risk of the financing schemes based on the promise to mortgage the future building, granted by the debtor, which would have been fulfilled only after the building being erected. Law 190/1999 made possible to establish a mortgage over a future building for securing a mortgage loan granted in accordance with this law for financing such building. Although the text of the law was initially rigid and difficult to apply in practice, after the significant amendments made especially in 2006, the mortgage loan is currently appealing to both lenders and debtors interested in purchasing or constructing a house or a commercial building. The main advantage of such type of loan is the possibility to mortgage, for securing the loan, a future real estate, which is the object of the investment, without the need of any other additional security.

Keywords: land book, building, mortgage load, immovable, registration, mortgage, superficies
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