THE MORTGAGE REGISTER OF THE REPUBLIC OF LITHUANIA

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THE MORTGAGE REGISTER OF THE REPUBLIC OF LITHUANIA
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Briefly about Central Mortgage Office

• Central Mortgage Office was established
  following the Government regulation adopted on
  the 12th of September, 1997.
• The office is financed from Lithuanias state
  budget.
• Central Mortgage Office is subordinate to the
  Ministry of Justice.

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Central Mortgage Office

• Mortgage Register
• Register of Wills
• Register of Property Seizure Acts
• Register of Marriage Settlements
• Register of Contracts

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Register of Wills

• Started operating on July 1st, 2001
• It is managed by Central Mortgage Office

Main function of the Register of Wills - to
register data about all wills drawn in Lithuania,
their abolishment, taking back and nullification,
also acknowledged as invalid and already
proceeding cases of inheritance.
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Register of Property Seizure Acts

• Started operating on January 1st, 2002
• It is managed by Central Mortgage Office and
  hypothecary divisions

Main function of the Register of Property Seizure
Acts - to register and distribute data about all
property seizure acts adopted in Lithuania.
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Register of Marriage Settlements

• Started operating on July 1st, 2002
• It is managed by Central Mortgage Office

Main function of the Register of Marriage
settlements - to register and distribute data
about marriage settlements, cohabitants
settlements and facts of property division
between spouses.
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Register of Contracts

• Started operating on September 2nd, 2002
• It is managed by Central Mortgage Office

Main function of the Register of Contracts - to
register and distribute data about leasing, sale
and purchase by instalments and sale and purchase
with the right to purchase-back contracts, where
object of the contract is unregistered property
purchased for business or services.
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Mortgage Register

• Established on September 24, 1996
• Started activity on April 1, 1998
• It is managed by Central Mortgage Office and
  Hypothecary divisions at District Courts

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Mortgage Register

• The objects of the Mortgage Register
• transactions involving the pledge of immovable
  things specified in Article 4.171 of the Civil
  Code of the Republic of Lithuania (mortgage)
• transactions involving the pledge of movable
  things and property rights specified in paragraph
  2 of Article 4.209 of the Civil Code of the
  Republic of Lithuania (pledge)

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Types of Mortgages /Pledges

• Contractual mortgages/pledges agreements of the
  contractors to mortgage/pledge immovable or
  movable property or property rights or unilateral
  application of the owner of the immovable/movable
  property or property rights to mortgage/pledge it
  
• Forced mortgages/pledges mortgage/pledge of
  immovable property as well as movable property or
  property rights without a will of the owner

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Mortgage Register
FUNCTIONS AND AIMS
Register contractual and forced mortgages,
contractual and forced pledges Collect,
compile, process, systematize, store, use and
communicate data about mortgages/pledges Execute
forced recovery from mortgaged/pledged
property Distribute information about mortgages
and pledges
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Structure of Mortgage Register
15 Hypothecary divisions
Network
Vilnius
Ukmerge
Kaunas
Central Mortgage Office
Klaipeda
Rokikis
Paneveys
Kelme
iauliai
Maeikiai
Alytus
Ignalina
Ministry of Justice
Marijampole
Taurage
Teliai
Utena
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Data about contractual mortgages held in the
Mortgage register

• the date and time of the registration of an
  application to register a mortgage in the
  mortgage division, the date of the registration
  of the mortgage in the Mortgage Register and its
  identification number
• the date and place of the conclusion of the
  transaction
• the debtor (the name, surname, address and
  identification number of a natural person the
  name, registered office and identification of a
  legal person)
• the owner of the thing to be mortgaged where the
  debtor and the owner of the thing is not the same
  person (the name, surname, address and
  identification number of a natural person the
  name, registered office and identification number
  of a legal person)
• the creditor (the name, surname, address and
  identification number of a natural person the
  name, registered office and identification number
  of a legal person)
• the thing to be mortgaged (its type, location,
  identification number and other properties
  identifying the thing)
• the total valuation price of the things to be
  mortgaged
• the obligation secured by the mortgage

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Data about contractual mortgages held in the
Mortgage register

• the exact or maximum amount of the obligation
  secured by the mortgage, as well as the date of
  fixing the amount of the debt if it was agreed
  upon when concluding a maximum mortgage contract
• the date of the discharge of the obligation
• the interest
• the conditions and claims
• the field in which the loan will be used if the
  maximum mortgage is registered
• if the obligation is to be discharged at the
  request of the creditor, the moment from which
  the creditor may submit his claim
• the condition under which the mortgage will be
  valid, or the condition upon the fulfilment
  whereof the mortgage will become effective, as
  well as the conditions which must be agreed upon
  at the request of one of the parties if a
  conditional mortgage is registered
• the prohibition against transferring the mortgage
  claim if the parties agreed thereupon
• the priority in a foreclosure sale of things if a
  blanket mortgage is registered
• the person who has filed the application to
  register the mortgage (the name, surname, address
  and identification number of a natural person).

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Number of registered mortgages/pledges
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Registered mortgages per month 1998 -
2003
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Registered pledges per month 1998 -
2003
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Total value of mortgaged/pledged property
2003
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Information distribution service

• Services
• Full information
• Summary of information
• Viewing data on the screen
• Set of information.

• Channels
• Personally
• Post
• Internet (for registered customers)
• Automatic phone [phone].

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Information System of the Mortgage Register