Flexibility, Security and Efficiency of Security Rights Over Real Property in Europe Volume III
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The vdp has therefore set itself the goal of contributing to transparency in the law on mortgages in Europe not only in the form of publications relating to specific countries but also by developing transnational slides that facilitate rapid access to detailed information and legal facts. It was for this purpose that the so-called “Round Table: Flexibility of security rights over real property in Europe” was established, in which mortgage collateral specialists from 22 countries are now involved. 13 national reports and a series of comparative law slides by authors from this expert group have already been published in volumes 23 and 32 of the vdp’s publication series. The Round Table is also to reflecting the need for a form of neutral appraisal of legal facts.
Since the crisis in financial markets triggered by the subprime mortgage crisis, if not earlier, the degree of transparency required of structures within the capital and banking markets has generally increased. Professionals who deal with several legal systems in the course of their international mortgage business have, time and again, articulated their need for clearly set out descriptions of the law of property. Alongside their function as an information source, publications also have important significance for the credibility of an assertion or an analysis because they are open to review by a specialist audience, unlike secret legal opinions about complex capital market instruments which cannot be the subject of broad, academic review.
This study presents a comprehensive series of slides that depict the law of security rights over real property in 22 legal systems on a comparative basis, thereby illustrating the individual questions and answers. This can now form the basis for the development of general and transaction-specific assessment procedures. The vdp is prepared to provide significant support in the future too for research into the development of such procedures.