To the President of the Legislation Committee of the States of Jersey
Part I Introduction
1.1 The Commission received comments from only three persons following the publication of its Consultation Paper No. 2 on Dégrèvement in November 1998 ("the Consultation Paper"). However, general comment has been favourable and therefore there are few amendments to the proposals set out in the Consultation Paper.
1.2 The respondents to the Consultation Paper raised important matters in relation to the hypothecation of immoveable property rather than dégrèvement itself and their comments have been referred to David Moon who is the Topic Commissioner leading a review of the Jersey law of real property. Amongst the matters referred to him is a suggestion that consideration be given to a lender being able to realise his security over immoveable property by selling the property in a similar way to a lender who takes security over intangible moveable property.