According to the article 3108 of the Civil Code, the mortgage is the constituted in security of a credit in money, on real estate, that continues in the debtor's power."

It is classified as a real right because it falls on real estate.

In more current terms, we would say that the mortgage is an accessory right of the main right, that it is the obligation contracted by the debtor (loans, obligations to do, obligations to give, etc.). In this way, a mortgage can not exist without a credit on which it guarantees.

All the mortgages must take place by public writing and register in the Registry of the Property in order that it can be opposed to third parties.

The mortgages are constituted only on certain real estate and by specified sums of money, and the only one that can do it is the owner of the property or his representative with sufficient faculties for it.

How much does it cost?

The costs of constituting a mortgage are variable, and have direct relation with the amount by which they are constituted. Also, it has incidence in the cost the jurisdiction in which the property is located.

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