THE MORTGAGE QUESTION 85 



2. TUE MORTGAGE QUESTION IN SWEDEN. 



SOURCES : 



Rapport envoye a l'Tn-stitut International d' Agriculture (Report sent to the Interna- 

 tional Institute of A'^riculture) by H. J uhlin Dannfelt, Secretary to the Royal Academy 

 of Agriculture in Stockholm ; Official Correspondent of the International Institute of 

 Agriculture. 



ST.4.TISTISK TiDSKRiFT Utgifven AF KuNGL. Statistisk.\ Centralbyr&n [Revicw of Statistics, 

 published by the Royal Office 0/ Stafistics) 1913. no. i. Stockholm. 



In an article publishedin our Bulletin (i), Mr. H. Juhlin Dannfelt has 

 shown how land registers and books are classified in Sweden, where there is 

 no true cadastre for real estate. 



It seems to us that it would be interesting to complete the information 

 given in the abovementioned article, in connection with the question 

 of land credit, by the addition of some notes on mortgage statistics in 

 Sweden, and on the subject of mortgage debts in that country during the 

 last few years. 



Mortgages on real estate to be legally vahd must be entered in the land 

 register (fastighetsbocher) kept by the legal authorities. In these books 

 are entered the changes in landed property through alienation, free or condi- 

 tional transfer, registration or cancellation of real charges. Every year the 

 judges must present to the Department of Justice a report of the mort- 

 gages which have been entered, renewed or terminated in the past twelve 

 months. 



No true census of the mortgage debt has ever been made and therefore 

 it is impossible to ascertain precisely the amount of the mortgages on landed 

 property. 



Nevertheless, by means of the data contained in the annual reports pre- 

 sented to the Department of Justice, the whole amount of the mortgage 

 debt may be calculated. 



But, as has been observed in the case of other coimtries, the figures 

 thus obtained cannot be regarded as abosolutely correct, representing as 

 they do, for various reasons, an amount greater than the true debt. Many 

 mortgages are registered not as security for a loan, but for other real charges. 

 It often happens that mortgages already terminated remain purposely 

 uncancelled. In the case of mortgages redeemable by instalments no ac- 

 count is taken of repayments till all the debt is paid. Finally, as regards 

 the whole debt on property, the statistics are incomplete, because the loans 

 made on the security of funds belonging to the State are not included in 

 the amounts entered in the land books of the courts. 



(i) Bulletin of Economic and Social Institutions. November 1913. .Agricultural Credit in 

 Sweden. § 5- Real Estate Rights, I^and Books and I^an. 1 Registers, pp. 85-87. 



