The purge of mortgage in Japanese civil law
The purge of mortgage is believed to be one of the few French remnants in the otherwise largely German style Japanese Civil Code. Since the breakdown of Japanese asset price bubble in early 1990s, it has been blamed as one major obstacle to clearing up nonperforming loans held by Japanese banks, and...
Saved in:
Main Author: | |
---|---|
Format: | text |
Language: | English |
Published: |
Institutional Knowledge at Singapore Management University
2002
|
Subjects: | |
Online Access: | https://ink.library.smu.edu.sg/sol_research/2648 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
Institution: | Singapore Management University |
Language: | English |
id |
sg-smu-ink.sol_research-4606 |
---|---|
record_format |
dspace |
spelling |
sg-smu-ink.sol_research-46062018-05-30T01:55:41Z The purge of mortgage in Japanese civil law ZHANG, Wei The purge of mortgage is believed to be one of the few French remnants in the otherwise largely German style Japanese Civil Code. Since the breakdown of Japanese asset price bubble in early 1990s, it has been blamed as one major obstacle to clearing up nonperforming loans held by Japanese banks, and a central target subject to abolishment. In this paper, I analyzed the structural problems existing in the Japanese purge system and also probed the history and social background behind the debates about its abolishment. I proposed that, instead of total abolition, a restructured purge system, in particular getting rid of the requirement of increased-price-auction, can still serve certain important purposes of real estate development and finance in today’s Japanese society. In addition, I pointed out that a transformed purge system will also be useful in solving the dilemma faced by current Chinese residential property development market where buildings sold uncompleted, subject to mortgages held by banks, bring substantial title risks to their purchasers. 2002-01-01T08:00:00Z text https://ink.library.smu.edu.sg/sol_research/2648 Research Collection Yong Pung How School Of Law eng Institutional Knowledge at Singapore Management University Civil Law Commercial Law Law and Economics Property Law and Real Estate |
institution |
Singapore Management University |
building |
SMU Libraries |
continent |
Asia |
country |
Singapore Singapore |
content_provider |
SMU Libraries |
collection |
InK@SMU |
language |
English |
topic |
Civil Law Commercial Law Law and Economics Property Law and Real Estate |
spellingShingle |
Civil Law Commercial Law Law and Economics Property Law and Real Estate ZHANG, Wei The purge of mortgage in Japanese civil law |
description |
The purge of mortgage is believed to be one of the few French remnants in the otherwise largely German style Japanese Civil Code. Since the breakdown of Japanese asset price bubble in early 1990s, it has been blamed as one major obstacle to clearing up nonperforming loans held by Japanese banks, and a central target subject to abolishment. In this paper, I analyzed the structural problems existing in the Japanese purge system and also probed the history and social background behind the debates about its abolishment. I proposed that, instead of total abolition, a restructured purge system, in particular getting rid of the requirement of increased-price-auction, can still serve certain important purposes of real estate development and finance in today’s Japanese society. In addition, I pointed out that a transformed purge system will also be useful in solving the dilemma faced by current Chinese residential property development market where buildings sold uncompleted, subject to mortgages held by banks, bring substantial title risks to their purchasers. |
format |
text |
author |
ZHANG, Wei |
author_facet |
ZHANG, Wei |
author_sort |
ZHANG, Wei |
title |
The purge of mortgage in Japanese civil law |
title_short |
The purge of mortgage in Japanese civil law |
title_full |
The purge of mortgage in Japanese civil law |
title_fullStr |
The purge of mortgage in Japanese civil law |
title_full_unstemmed |
The purge of mortgage in Japanese civil law |
title_sort |
purge of mortgage in japanese civil law |
publisher |
Institutional Knowledge at Singapore Management University |
publishDate |
2002 |
url |
https://ink.library.smu.edu.sg/sol_research/2648 |
_version_ |
1772829704469872640 |