Foreclosure of Real Estate – Ideas from a different legal system (Denmark)
byHenrik Stakemann Spang-Hanssen
This article gives a broad introduction to real estate mortgages and foreclosures in Denmark.Denmark has the oldest mortgage legislation in the world.The legal and institutional framework has in many ways been the recipe for efficiency and successwithin Danish mortgage banking and is probably the foremost reason for the long and unblemishedhistory of specialized lending in Denmark dating back to 1851.After a short introduction and history on Danish legislation, the article describes Danish mortgages,including appendixes with complete English translations of all mandatory mortgage terms.Next, it describes in detail the Danish system on foreclosure of real estate, again includingappendixes with English translations of the various Danish rules for auctions of real estate.Finally, it offers some final remarks, a list over important case law (in Danish) and a list ofrecommended further reading and sources.The reader should study Appendixes A through E thoroughly to obtain a full understanding of theDanish system.
:Henrik Stakemann Spang-Hanssen, Foreclosure of Real Estate – Ideas from a different legalsystem (Denmark) (Version: May 2009, confer date in footer). Available at SSRN:
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