Probe On The Subject As Well As Rights And Obligations Of Reverse Mortgage Contract For House-for-pension Scheme

With the fast rising of aging population, our country has step into aging society, and the aging care problem becomes more and more distinct. From the other countries'practice in reverse mortgage, it is feasible for the elder with real property to solve their aging care problem by using reverse mortgage contract for house-for-pension scheme. Some cities in our country like Beijing, Nanjing had ever practiced in house-for-pension scheme, but the effect was not so good due to the lack of law and some problems existing in operation. At present, there is rare research on reverse mortgage contract for house-for-pension scheme, especially in the aspect of the qualification of contract subject and the rights and obligations. Hence, it is necessary to discuss from the perspective of reverse mortgage contract for house-for-pension scheme.Adopting the method of comparative study and logical analysis, this thesis starts from the connotation of the reverse mortgage contract of house-for-pension scheme, illustrating the characteristics of such contract as the particularity of the debtor, the peculiarity of the mortgage, and the sustainability of the ownership and right of habitation. This thesis further analyzes that the difference between this contract and mortgage loan contract as well as the maximum mortgage contract is the purpose of aging care. By referring to the relevant regulations on reverse mortgage in US, Britain and Australia, combining the status of elder in our country, we define that the debtor in house-for-pension reverse mortgage contract should be the elder with civil capability, owned real property and over 65; the creditor should be mainly the state-owned commercial bank, supplemented by the insurance company. In such a contract, the debtor enjoys the right to know and the right of redemption, and undertakes the obligation to disclose and the obligation to utilize the house reasonably. The creditor enjoys the right of mortgage and the right to obtain the ownership of the house, at the same time undertakes the obligation to disclose information and the obligation not to recourse. The personal opinion is to incorporate the right of redemption in pawning right, the transfer of ownership in fluidity clause, and the right not to recourse in negotiable instrument act into the contract as the main clauses. By theoretically analyzing the rights and obligations, the author expects to protect the legitimate rights and interests of both subjects of the house-for-pension reverse mortgage contract.