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[in Japanese], [in Japanese], [in Japanese], [in Japanese], [in Japane ...
2007 Volume 20 Issue 3 Pages
5-31
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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Akihiko YOSHIMURA, Kenji KAMEDA
2007 Volume 20 Issue 3 Pages
32-43
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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Yoshinobu KUMATA
2007 Volume 20 Issue 3 Pages
44-54
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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[in Japanese], [in Japanese], [in Japanese], [in Japanese], [in Japane ...
2007 Volume 20 Issue 3 Pages
55-59
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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Hiroyuki SESHIMO
2007 Volume 20 Issue 3 Pages
60-61
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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Tetsuya KATO, Kiwamu SUGIMOTO
2007 Volume 20 Issue 3 Pages
62-67
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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For creditors, the basic method for collecting loans from real estate security would be, 1) to apply proceeds from the sale of such property or to convert such property into cash, or, 2) to lease such property and apply the rent income and other income from the property. The former method can be further categorized into voluntary sale and keibai (foreclosure). It is clear that the recent amendment to the existing law has diversified the exit strategy for loan collection, in terms of compulsory execution on properties, which has surely impacted the quality and quantity of actions taken by creditors.
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Seiji KOGA
2007 Volume 20 Issue 3 Pages
68-73
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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When a debtor can not repay the debt, the lender can foreclose the debtor's mortgaged real estate. However illegal occupier in the real estate often obstructs the foreclosure procedure. Such obstruction reduces the value of the real estate and it is considered as one of the serious factors of non-performing loan problem in Japan. In recent Japanese law reform, many anti-obstruction rules were introduced so that we expect the foreclosure procedure become more effective than before.
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Kazuo ISHIGE
2007 Volume 20 Issue 3 Pages
74-81
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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Profit Execution on Mortgaged Real Estates (Tampo Fudosan Shueki Shikko) is a method of mortgage execution which the court appoints a manager of the mortgaged real estate according to the motion of the mortgagee, and under the management of the manager appropriating the income from the utilization of the mortgaged real estate such as lease income to the obligation-right secured by the mortgage. In this paper, firstly I will overview the purpose and process of enactment of this new method of execution against the background of the recent situation of Japanese economy including the collapse of the so-called Bubble Economy and also the un-performing loan problem. Secondly, I will examine the matters that require attention of this method of execution by introducing the case which my law firm actually handled, which was also the first case before the Tokyo District Court utilizing this method. Finally, I will consider the prospect of this method of execution based on the actual situation of its utilization.
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Hiroaki YOSHIDA
2007 Volume 20 Issue 3 Pages
82-90
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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The third party purchaser's extinguishment of hypothec system in the Civil Code was amended in 2004. The main reason is that the old system had been frequently abused.
The new system has something in common with Extinguishment of mortgage systems in insolvency law.
We can use the new system as a tool of Business reorganization, especially in the case that senior mortgagees agree but junior mortgagees disagree with the price of the mortgaged property offered by the third party purchaser.
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Yosimasa KOTANI
2007 Volume 20 Issue 3 Pages
91-99
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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The old law determined the lowest price of estate on bidding.
The revision of the law allows to sell the estate at a lower price than before and resulted in the increase of the selling up to 90-100% in Tokyo.
The clearing of debt is extended.
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Shuhei YOSHIDA
2007 Volume 20 Issue 3 Pages
100-107
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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In this paper I explain U. S. non-attorney foreclosure, especially in Maryland. In Maryland, nonattorney foreclosure is proceeded under the court supervise. Such procedure is easy and speedy. Thus I insist that such procedure should be and can be introduced in Japan.
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the Research on the Practical Use in the U. S. and the Proposal on the Introduction of the System in Japan
Yoshiaki KUME
2007 Volume 20 Issue 3 Pages
108-116
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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In the U. S., nonjudicial foreclosure under power of sale is widely in use as a cheap and quick procedure of foreclosure. Uniform Nonjudicial Foreclosure Act was approved in 2002 by National Conference of Commissioners on Uniform State Laws under the belief that judicial involvement is unnecessary in the great majority of foreclosures because there is no dispute between the debtor and the creditor. Nonjudicial foreclosure will contribute to reduction of the cost and shortening of the period by making survey report of property and expert valuation unnecessary in the procedure of foreclosure. Nonjudicial foreclosure should be introduced also in Japan.
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Economic View
Hiroyuki SESHIMO
2007 Volume 20 Issue 3 Pages
117-124
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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In this paper I consider the recent Japanese law reform for mortgage and the foreclosure procedure from the viewpoint of economics. In recent practice for loan collection and the reorganization of bankrupt firm, the market plays important role. Therefore the recent law reform is evaluated as supporting tools of market based loan collection and reorganization of firm.
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Summary: A Lawyer's View
Junji ANNEN
2007 Volume 20 Issue 3 Pages
125-130
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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Preceding seven articles are esteemed to make great contribution in evaluating merits and demerits of recent legislative reforms of mortgage and foreclosure systems. Authors generally admit that a series of reforms successfully activated foreclosure markets. Some of them as well advocate introduction of non-judicial foreclosure in Japan.
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Toshihiko TAKESHITA, Ryohei NAKAMURA
2007 Volume 20 Issue 3 Pages
131-141
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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Office rent at the central district in Osaka is still experiencing a downward trend almost fifteen years after the bubble burst. This paper constructs office price index using individual office data from 1985 to 2004, and implements Granger test by autoregressive model in order to make clear causality.
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[in Japanese]
2007 Volume 20 Issue 3 Pages
142
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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[in Japanese]
2007 Volume 20 Issue 3 Pages
143
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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[in Japanese]
2007 Volume 20 Issue 3 Pages
145-149
Published: January 10, 2007
Released on J-STAGE: June 15, 2011
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