Finansiering med fastigheter som säkerhetsunderlag: Köp, pant, hyra och jordabalkens gränser
2013 (Swedish)Doctoral thesis, monograph (Other academic)Alternative title
Real Estate as Security : Purchasing, Pledging, Leasing and the Limits of the Land Code (English)
This doctoral dissertation examines the extent to which the actual use of commercial premises as security is consistent with how such premises theoretically are to be used for such purposes. The objective is to examine the functionality of the Swedish Land Code (LC)(1970:994) in relationship to the use of alternative financing forms and techniques.
The theoretical approach for the use of real estate as a security object is that such is achieved by the assignment of a pledge in real estate. With the commercial use of real estate, the real estate pledge is not the only, nor in certain cases even the primary, form of use of real estate for the purposes of security. Financing occurs to a great extent, for example, using real estate leasing, real estate bonds, Mezzanine loans, pledges in shares of a real estate holding company and through ringfencing structures.
This doctoral dissertation posits that the differences between the actual and theoretical uses of real estate parcels as security can entail that uncertainties and incompatibilities in relationship to LC arise. These problems can be seen to arise as a consequence of internationalization, the categorization of real and personal property, the intent to circumvent rules, the fact that common law based contract structures are applied in a Swedish system, the use of standard agreements, and the requirements of credit ratings.
The different uses with respect to real estate and security as discussed in this dissertation are not completely compatible with each other. The use of alternatives and complements to real estate pledges affects the fulfillment of the legal objectives of real estate law and constitutes a problem in relationship to the function of legitimacy. In addition, the intended functions of the alternative financing forms and techniques to a certain degree are impeded by the mandatory regulations, form requirements and debtor creditor legal principles in LC.
Place, publisher, year, edition, pages
Stockholm: Jure, 2013. , 357 p.
real estate, real property, land code, pledge, form requirements, leasing, security, property bonds, securitisation, mezzanine-loan, ring fence, triple net
fast egendom, fastighet, jordabalken, panträtt, formkrav, hyra, säkerhet, fastighetsleasing, fastighetsobligationer, värdepapperisering, fastighetsbolag, mezzanine-lån, negativklausuler, ring fence, triple net
Law (excluding Law and Society)
Research subject Private Law
IdentifiersURN: urn:nbn:se:su:diva-80962ISBN: 978-91-7223-543-4OAI: oai:DiVA.org:su-80962DiVA: diva2:660068
2013-12-12, Reinholdsalen, Juristernas hus, Frescativägen 16, Stockholm, 10:00 (Swedish)
Lilleholt, Kåre, Professor
Hager, Richard, Jur.dr.Millqvist, Göran, Professor