Personal housing secured loan is a loan in which the borrower or the third party takes the purchased house and other property with ownership as mortgage or pledge, or the third party provides guarantee for its loan and assumes joint liability.

If the borrower fails to repay the principal and interest of the loan at maturity, the loan bank has the right to dispose of its collateral or pledge according to law, or ask the guarantor to bear the responsibility of jointly repaying the principal and interest. The object of bank loans is a natural person with full capacity for civil conduct.

Guarantee refers to the legal system that the parties realize their creditor's rights in order to urge the debtor to perform his debts according to the law or the agreement between the two parties. The guarantee is usually signed by both parties. Guarantee activities shall follow the principles of equality, voluntariness, fairness, honesty and credibility.

Extended data:

Relevant regulations of the guarantor:

1. A legal person, other organization or citizen who has the ability to pay off debts on his behalf may act as a guarantor. However, if a legal person, other organization or natural person who does not have full compensation capacity enters into a guarantee contract as a guarantor, the people's court will not support it.

2. According to the relevant provisions of the General Principles of Civil Law, individual industrial and commercial households and rural contracted households are a special form of citizens. Therefore, citizens as guarantors can also be individual industrial and commercial households and rural contracted households.

3. Guarantors include: sole proprietorship enterprises and partnership enterprises registered to obtain business licenses according to law; A joint venture registered in accordance with the law and obtained a business license; Chinese-foreign contractual joint ventures registered according to law and obtaining business licenses; Social organizations approved and registered by the civil affairs department; Township, street and village-run enterprises that have been approved to register and obtain business licenses.

4. If the branch of an enterprise as a legal person provides a guarantee without the written authorization of the legal person, the guarantee contract is invalid. If the functional department of an enterprise as a legal person provides a guarantee, the guarantee contract is invalid.

5. Institutions and social organizations aiming at public welfare shall not act as guarantors. If an institution or social organization engaged in business activities acts as a guarantor, the guarantee contract signed by it shall be deemed as valid if there are no other circumstances that lead to the invalidity of the guarantee contract.

6, the state organs in the process of accepting loans from foreign governments or international economic organizations, approved by the the State Council can act as a guarantor. In other cases, it is not allowed to be a guarantor.

Baidu Encyclopedia-Personal Housing Guarantee Loan

Baidu Encyclopedia-Guarantee (Legal Concept)

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