Study On Legal Barriers Of Reverse Mortgage In China

With the arrival of an Old-Aging society, China’s social pension system should be urgently reformed.Under the trend of House-For-Pension scheme,Reverse Mortgage has become a model for our country to learn. Reverse Mortgage has the reverse operation pattern of traditional mortgage,and it is a financial product,social security system and real rights for security, extremely comprehensive and innovative.Therefore, Reverse Mortgage has been encountering a lot of barriers and risks since it was first introduced into China. From the perspective of law, this paper is a general study and discussion on Reverse Mortgage through the methods of interdisciplinary research,comparison analysis and theoretical analysis.The first part mainly defines the basic theory of Reverse Mortgage,such as the concept, characteristics of it.Then the rest of this paper further discusses legal barriers of obligatory right of Reverse Mortgage in the localization,as well as succession rights and legal supervision,and also put forward proposals in the respect of legal norm and institutional construction,for the relevant departments for reference.The main body of this paper can be divided into four parts.Part one is the general introduction and overview of Reverse Mortgage,in order to provide a theoretical framework for the analysis below. Part two is studying on the legal barriers of obligatory right of Reverse Mortgage in the localization, mainly analyzing the importance and legal nature of the Reverse Mortgage Contract,and legislative proposals are put forward for the design of the contract clause.Part three is studying on the legal barriers of succession rights of Reverse Mortgage in the localization,discussing the theoretical source and concrete forms of it and offer solutions.Part four is studying on the legal barriers of legal supervision of Reverse Mortgage in the localization,it analyzes the necessity of legal supervision of Reverse Mortgage, then puts forward reasonable suggestions from two aspects: the choice of supervision mode and the design of supervision system.