上海市房地产抵押办法 Shanghai Municipality, Real Property Mortgage Procedures

mic losses suffered thereof. If both parties are at fault they shall each bear the corresponding liability.

　　Article 67　(Liability for concealing the circumstances of a mortgaged property)

　　If the mortgagor conceals the fact that the mortgaged property is already mortgaged or rented out, causing losses to others, recompense shall be paid by the mortgagor.

　　Article 68　(Exemption from liability)

　　If the mortgaged property is wholly or partially destroyed, damaged or depreciated because of force majeure, the mortgagor shall inform the mortgage holder in a timely fashion. Once proof has been obtained the mortgagor can be exempt from the liability to provide new or additional mortgaged property.

　　Article 69　(Handling of disputes)

　　If there is

dispute between the mortgagor and the mortgage holder over implementation of the mortgage contract or mortgage rights, this shall be resolved through discussion. If this is unsuccessful appeal may be made in accordance with the law to the people's court.

　　PART EIGHT　ADDITIONAL PROVISIONS

　　Article 70　(Mortgage of State-owned real property)

　　Regulations on administration of State-owned assets shall also apply to mortgage of State-owned real property.

　　Article 71　(Effective date)

　　These Procedures shall be effective as of 1 January 2000. The Shanghai Municipality, Real Property Mortgage Procedures promulgated by the Shanghai Municipal People's Government on 22 August 1994 shall be repealed as of that date

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