The real state’s mortgage institution in Cuba: Past and future’s reformulations

Abstract

The real estate mortgage in Cuba —both old and forgotten— resurfaced in the year 2000 with the mission of attracting foreign investment. Eleven years later, in the midst of a policy of updating the Cuban economy, it is called to generate credit for the business sector of the State and for an emerging private sector. This last one in frank growth in the last decade. Thus, faced with the increasingly doubtful applicability of the Overseas Mortgage Law, the penetration of administrative law in the Registry Law and the paucity with which the mortgage is regulated in our Civil Code, it is sometimes tedious to find a formula for its successful implementation practice. On the other hand, the urgent need for foreign capital and economic alternatives that contribute to the maintenance of an inclusive and sustainable economy, they demand a review of the shortcomings or weaknesses of their postulates in order to overcome their mistakes and move towards a change of mentality as much of the legislators as of the operators of the right in Cuba.