Mortgage loan or mortgage
It is the right of guarantee that falls on immovable property as a guarantee of compliance with the obligation to return the money lent with a mortgage guarantee and by means of which its holder is granted, in the event of non-compliance, the power to carry out the realisation of value of said property by means of its compulsory possession through the legally established procedure.
One of the parties, a financial entity, gives to the other, an individual or a company, an amount of money with the condition of returning it of the same kind and quality -lent capital with interest- , with a guarantee over the mortgaged property, generally a house or a building of any kind.
Only these may be subject to a mortgage contract:
1.st Real estate.
2.nd The rights in rem that can be disposed of in accordance with the law, taxes on assets of that class.