On The Reverse Mortgage System

With the advent of an aging society in China, it is a growing problem in Pension issues. China is a developing country, the economic capacity is weak. Proportion of elderly population is increasing. At the same time, we are faced with the problem of social old-age security system is not perfect. In this case, looking for new avenues pension actively is very necessary. Reverse mortgage system provides an option for this demand. In order to obtain pension, mortgaging the real estate of the old person is a new way of elderly supporting.The purpose of this paper is to study the models and methods of introducing a reverse mortgage in a legal point. The article is divided into three parts:The first part introduces the connotation of reverse mortgages and theoretical basis. First briefly explains the meaning of the reverse mortgage, features, comparison with related concepts. In order to let us have a clear understanding of the concept of reverse mortgage. Second, it determines the theoretical basis of the reverse mortgage.The second section describes reverse mortgages in other countries and the prospects of reverse mortgages in China. First, summarizing the experience of foreign countries this system by understanding the foreign system. Secondly, the article combined with the experience of foreign countries in order to analyze the necessity and feasibility of China’s implementation of the reverse mortgage, according to China’s specific national conditions.The third part introduces the construction of reverse mortgage system in our country. First, it clarifies the basic principles which the construction of this system should abide by. Second, it puts forward some plans about the establishment of the reverse mortgage principal part system. Third, it raises some own understands by the writer about establishing some supporting legal rules.This article absorbs some useful experience and successful practice from western countries and raises some concrete thoughts of establishing the reverse mortgage system. The purpose of this article is to bring in this system and finally establish the reverse mortgage system in China.