Real Securities (Arabic Language - AED 400)

In this course, we will explore the following topics: The surety mortgage: Definition, characteristics, constitution (including the parties’ capacity, the subject of the mortgage and its cause; the necessity to register it before the Land Registry Department), the effects of the mortgage between the parties including the rights of the mortgagor to dispose of the mortgaged property, to manage it, etc., the obligations of the mortgagor to guarantee the mortgaged property and its safety; the rights of the mortgagee to assign his rights and to recover his debt from the mortgaged property according to the laws. We will also detail the effects of the mortgage towards third party possessor of a mortgaged property (including the right of priority in collecting the debt and the right to trace the mortgaged property into the hands of whoever possesses it in order to recover his debt upon maturity) and the extinguishment of the security mortgage. Samples of mortgage agreements will be presented to the audience for discussion. The possessory mortgage: Definition, characteristics, constitution (including the parties’ capacity, the subject matter of the mortgage and its cause); its effects on the parties (with a description of the mortgagee and mortgagor rights and obligations) and its effects towards third parties. We will also detail the different types of possessory mortgages and the cases of extinguishment of the possessory mortgage. Mortgage of movable properties in the light of law no. 20/2016 as amended by the decree no.  24 of 2019. Privileged rights: How they differ from mortgage; their characteristics; their effects and the causes of their extinguishment. We will also refer to the different types of privileges as mentioned under the UAE Code of Civil Transactions. Decisions issued by the courts in the United Arab Emirates regarding real securities will be referred to and discussed.