84 HUNGARY - CREDIT 



§ 2. Fluctuations in mortgage indebtedness. 



The efforts made to obtain statistical returns of the fluctuations in 

 mortgage indebtedness have led to better results, although, as the inform- 

 ation is obtained from the land registers, these results are also affected 

 by the errors in the keeping of the registers we have mentioned above. 



Every year, since 1875, the Land Registry Office sends the Central Stat- 

 istical Office of the Kingdom of Hungary a return of the new mortgages 

 entered and of the mortgages cancelled. 



This return shows both the number of operations and the amounts 

 entered or cancelled ; changes of ownership of real estate (showing whether 

 they are due to contract, inheritance or judicial execution) ; changes in 

 the entries and cancellations of mortgage charges. In indicating the 

 number and amount of the registrations it is stated whether these owe their 

 origin to contract, to previous registration not yet final (i), to inheritance 

 or j udicial mortgage. In regard to the cancellations of mortgages, distinction 

 is made between cases in which the creditor has only recovered part of his 

 credit, and those in which cancellation is made on account of extinction 

 of the debt or for any other reason. 



Every year, then, statistics are published of the number and value 

 of the mortgaged estates which change hands and the fluctuations in the 

 mortgage charges, on the basis of the information suppHed by the land 

 registry office. 



As we see, in the last Statistical Annual, in igii, there were 623,489 

 mortgaged landed properties transferred of a total value of 1.776,122,000 crs. 



Of these 623,48q landed properties, 497,070 valued at 1,460,000,000 crs. 

 were sold ; 18,006, valued at 38,000,000 crs. were the subject of judicial 

 execution; 107,127, of a total value of 270,000,000 crs., passed to new 

 owners by inheritance. 



In the following table we reproduce some data that may serve to 

 illustrate the fluctuations in the mortgage indebtedness between 1901 and 

 1911 in Hungary: 



(i) These mortgages, valid only for brief periods, give the creditor the advantage of 

 precedence of others in the final registration, without his immediately pajang the heavy 

 charges. 



