Discussion On The Duration Of The Existence Of The Right Of Mortgage

The duration of the existence of the right of mortgage shall include the period of the existence of the legal right of mortgage and the period of the agreement on the existence of the right of mortgage.The period of the existence of the legal mortgage is the period of the existence of the mortgage,which is clearly stipulated by the law,that is,the provisions of Article 202 of The property law,and the period of the agreed existence of the right of mortgage is the period of the existence of the mortgage as agreed upon by the parties.According to the subordinate nature of the right of mortgage,the period of the legal mortgage shall be subordinate to the limitation period of the principal creditor's rights,and before the expiration of the limitation period of the principal creditor's rights,the duration of the mortgage right should remain the same as the limitation period of the principal creditor's rights.However,in order to promote the circulation and utilization of things,if the creditor has not exercised the right of mortgage after the expiration of the limitation period of the main creditor's rights,the mortgagee may actively take the necessary measures to make the mortgage relationship end as soon as possible,and cancel the mortgage registration.In order to protect the interests of the third mortgagor,the measures will be treated differently between the debtor as mortgagor and the third party as mortgagor.The agreed period for the existence of the right of mortgage should be a fixed period,and the right of mortgage should be extinguished after the expiration of the period,so there is no need to distinguish between the debtor as mortgagor and the third party as mortgagor.Due to the difference between the duration of the legal mortgage and the duration of the agreed mortgage,the parties may,according to their needs,agree on that whether to apply the legal mortgage or the agreed mortgage.