The Law "On Pledge" (Federal Law No. 2872-1) was adopted in 1992. To a certain extent, this normative act filled the existing legal gaps. However, unresolved issues remained. Consider further the main provisions of the Federal Law No. 2872-1. 
Urgency of the problem
Prior to the adoption of Federal Law No. 2872-1, a loan secured by real estate did not have a clear regulatory framework. In this regard, very controversial situations often arose. Housing mortgage transactions were based on a sales contract. In fact, the owner needed to sell the apartment to the bank and conclude a lease agreement with him with a subsequent purchase. One of the significant drawbacks of this scheme was that the landlord had to leave the square. In this case, the owner was provided about 60% of the minimum cost of the object for a period of 3-4 months. The owner’s risk was also high. So, in the event of the bankruptcy of a financial company, there was a possibility that the apartment sold by him would go to pay off the bank's debts. To reduce risks, as well as regulate transactions with objects, the Law "On Pledge" was adopted.
Mortgage
She acts as a form of collateral. Mortgage is considered an accessory obligation. Its specificity consists in the fact that only a valid claim arising from the contract is subject to security. A very important conclusion follows from this. Cannot have security imaginary claim. If the entity, who was counting on the agreement to receive a loan on bail, was not transferred funds, then he does not have any obligations. 
Securities
The Law "On Pledge" was supplemented by Federal Law No. 152. This normative act created the legal basis for the establishment of the secondary mortgage market. Investors providing refinancing of loans, as well as specialized agent companies, were able to conduct activities related to the circulation of obligatory securities. As a result, the issuance of secured bonds and participation certificates has become legally sound. The provisions of the Federal Law No. 152 allow banking organizations to sell securities, thus accelerating the payback of issued loans. This, in turn, contributes to the development of the mortgage sector.
Important point
Mortgage - a pledge of property, in which the object remains in the use and possession of the subject who received the loan. This also applies to cases of acquisition of housing, acting as collateral for liabilities, at the expense of the bank. Ownership in such situations is recorded on the recipient of funds. 
Categories of Obligations
The Law "On Pledge" defines an approximate list of agreements that may be secured. They are given in Art. 2. A separate type of loan is a secured loan. The monetary character of the demand is a common feature of all transactions. This means that obligations to provide services, work, etc., cannot be secured by a mortgage. However, mortgages are permitted under non-contractual obligations. For example, it may provide for obligations arising from damage.
The specifics of legal relationship
Mortgage speaking like accessory obligation, exists until the moment the basic requirement is really. The termination of the supplementary agreement does not entail the original legal relationship. The pledge agreement may be independent. This means that it can exist separately with respect to the underlying agreement from which the secured obligation arises. 
Nature of requirements
The obligation that the pledge agreement provides must be monetary. In this case, mortgage conditions may be included in the content of the main agreement. For example, the contract states that the timely repayment of principal and interest is guaranteed by the transferred facility. The Law on Pledge shares the requirements. So, the main debt and additional funds to be paid under the terms of the transaction are allocated. In this case, a partial or full amount of debt can be secured by a mortgage. If the agreement does not specify interest on the use of funds, then they are calculated based on the refinancing rate.
Additional expenses
About them it is spoken in Art. 4 Federal Law No. 2872-1. Additional in this case are the costs that a financial structure that provides, for example, a loan secured by real estate, may incur due to the need to ensure the safety of the property. This may be the cost of maintenance, repayment of tax debt, protection and so on. In accordance with the general rules, the indicated costs are compensated for at the expense of property pledged.
Meanwhile, it is allowed to condition the signing of the agreement by the payment of a certain amount by the debtor. From it, the lender can cover additional costs. It is worth saying that in the normative act there are no restrictions on the value of these expenses, including with respect to cases when they will be excessive. Apparently, the legislator was guided by the fact that the pledge holder himself would control these costs. This is due to the fact that the thing accepted as security, the value of which has limits, will act as the source of their compensation. 
Collateral
It is determined depending on the type of transaction. For example, a mortgage is provided exclusively by real estate. As a rule, it is the object that is purchased with loan money that is provided. In this case, it is allowed to obtain a loan for existing real estate. Objects can be very different. This may be an apartment in a new building or housing purchased in the secondary market. However, in any case, the object must be owned.
The subject of pledge may be land. At the same time, a reservation is made in the normative act regarding allotments owned by the municipality or the state. Other legal documents provide for a pledge of a car and other things. For such transactions, slightly different rules apply. A secured loan can be issued not only by banks. Regulatory acts regulate the activities of pawnshops that provide small amounts to owners of various things. 
Pledge agreement
The main conditions of the agreement are listed in paragraph 1 of Art. 9 Federal Law No. 2872-1. In essence, they coincide with those given in paragraph 1 of Art. 339 GK. However, in Art. 9 there is no condition on the location of the mortgaged property. As for the mortgage, the debtor always owns and uses the facility. Since real estate is being laid, its identification begins with a type designation - a land plot, a house, an apartment, etc. If the object has a name, then it is indicated in the agreement (for example, the Master sports complex).
Location is determined by address. If it is absent, the object is tied to a specific area. The agreement must indicate the type of law by which the object belongs to the debtor, as well as the authority that registered it. In addition, the date, place of conclusion of the main agreement is given. In practice, it is also advisable to indicate the essence of the initial obligation, the amount and timing of its repayment. This will avoid probable problems with the control registration authorities. Authorized authorities may consider it insufficient to have a reference to the original contract and require that full information about it be provided in the mortgage agreement. 
Object rating
It is carried out by agreement of the parties. Separate rules, however, are provided for the assessment of mortgaged property owned by the municipality or state. The provisions of the Federal Law "On Valuation Activities in the Russian Federation" apply to these facilities. If the subject of the pledge is a private object, the parties to the agreement can entrust the determination of value to an independent expert.
