Research On Legal Issues Of Housing Reverse Mortgage Pension Insurance

With the in-depth development of the global aging trend,Western countries have explored pension methods other than basic pension.the Housing Reverse Mortgage Pension System(HRMPS)has become an option for countries to solve the problem of pension.which has eased the pressure on pensions.Our country has also stepped into the aging society,in addition,it is necessary to introduce the Housing Reverse Mortgage Pension System(HRMPS)and make it as an important supplementary for pensions due to the lack of social endowment resources and family endowment capacity in our country.However,different from the common loan mode in foreign countries,China adopts the "insurance mode",that is,the reverse mortgage pension insurance.China started the pilot of the insurance in 2014,and the pilot work is currently being carried out nationwide.However,looking at the implementation of the old-age insurance policy and the current status of the pilot development,the results have not been satisfactory.Relevant laws and systems have not fully adapted to the promotion of the pilot program,and new legal problems have also arisen during the actual operation.Moreover,these legal issues have become the bottleneck of the development of the pension insurance.On the basis of above analysis,it is necessary that research on the new pension insurance based on the legal for further improving the system.According to the basic theory of housing reverse mortgage,the paper makes it clear that the concept,legal characteristics and legal basis of housing reverse mortgage insurance.further forms an intuitive legal understanding.Housing reverse mortgage pension insurance as a new type of commercial pension insurance,which the aged can mortgage their own housing as collateral,to assure on the insurance company.Consider that the participation main body,the mortgaged property,the amount and time limit of mortgage-backed debt have particularities.Therefore,the two sides of insurance establish the insurance contract,loan and mortgage,such as multiple legal relationship,given the insurance.In view of the insurance relationship part of the legal basis is less argument,hence this paper mainly studies on the legal basis on which the guarantee relation part is depend on.On account of the analysis,it is found that the framework of the existing legal system cannot correspondence with the legal basis of the housing reverse mortgage endowment insurance system,but we should try to find the most suitable legal foundation theory as its legal basis in essence except existing law system.The theory of “post-assignment guarantees” has the conditions to introduce the reverse mortgage pension insurance system.Through sorting out the evolution of the relevant policies and the pilot of the insurance,the development status of the insurance is more comprehensively demonstrated.Although the number of people insured by the insurance is not large,the potential market is quite broad.Examining the current legal problems encountered by the insurance,we can find that the insurance has obstacles to the land use period,limited subject qualifications,narrow range of mortgageable real estate,unbalanced rights allocation between the insurance parties and related regulatory systems and interests Legal issues such as the lack of a safeguard mechanism.As a foreign product,the Housing Reverse Mortgage Pension System(HRMPS)has been explored abroad for decades.The United States is the largest and most mature country in the housing reverse mortgage market and has extensive practical experience;Japan is the first to adopt a trust model to develop the reverse housing mortgage business,which is quite innovative.This article takes the United States and Japan as examples,and examines the advantages and disadvantages of the two countries' model practice,which has certain reference significance for improving China's housing reverse mortgage insurance and enriching the form of the Housing Reverse Mortgage Pension System(HRMPS).The perfection of this insurance system is the focus of this article.Regardless of whether it is coordinated legislation or the construction of legal relations,the author has put forward his own views on the basis of drawing on the experience of extraterritorial development and combining with the actual situation in China: 1.In solving the problem of renewal of the land use period,I propose the "Property Law" The stipulated "automatic renewal" is interpreted as renewal without application and free of charge.At the same time,before the authoritative interpretation of the "automatic renewal" by the relevant departments,in order to avoid the period of land use rights for residential construction as much as possible The effect of real estate appraisal depends on the remaining period of construction land use rights;2.In terms of the subject system,consideration may be given to relaxing the age of the spouse 's co-insurer,and extending the guarantor to the insured 's first heir And expand the scope of business entities,encourage insurance companies,trust institutions and banks to jointly develop reverse mortgage business of housing;Third,in terms of improving the object system,it is recommended to gradually release the circulation of housing plot houses,and set up a joint property housing government side Compulsory purchase obligation ”to broaden the coverage of the pension insurance;In terms of profit allocation,it is recommended to pay attention to the policyholder's right to know,appropriately expand the policyholder's right to dispose of the house and right of rescission,allow the insurance parties to agree on the distribution of the value-added income right of the house,and give the policyholder the right to choose the insurance payment method to balance the rights of both parties;Relevant supervision and incentive and guarantee systems should focus on improving laws and regulations,establishing special intermediary service agencies,and increasing tax incentives to provide practical support and guarantee for the operation of the reverse housing mortgage system.