Utilization of Mortgage: a Juristic Study in Comparison with UAE Transactional Law

Abstract

In this study entitled ‘Utilization of Mortgage: a Juristic Study in Comparison with UAE Transactional Law’, the researcher presented the jurisprudential and legal opinions that are related to the use of the mortgage.

To this end, research used a comparative-descriptive approach by describing the research issues, extrapolating the scholars’ opinions on them, and comparing the scholars’ statements. 

The conclusion stated the most important results as follows:

(1) Scholars of Islam had two different opinions about the issue of the mortgagor’s use of the mortgage. Based on the views of Malikiyah scholars, the UAE law on this matter opts for allowing the mortgagor to use the mortgage without taking it away from the mortgagee. (2) Regarding the mortgagee's use of the mortgage, scholars had six different opinions. On this issue, the UAE law, based on the views of Hanafiya scholars, states that it is not permissible for the mortgagee to use the mortgage without the permission of the mortgagor.