Prestito vitalizio ipotecario, riforma del credito immobiliare e incerto destino del marciano di diritto comune

This essay addresses the issue of the new guarantee instruments to secure bank loans, as recently set out by addition of articles 48-bis and 120-quinquiesdecies into the Italian Consolidated Banking Code and by the reform of the «lifetime mortgage loan» (or «reverse mortgage»), with special reference to the latter one. While outlining the legal framework arising out from the ambiguous wording of such provisions, this analysis focuses on the special regard that the lawmaker has paid with reference to concurrent creditors' interests and to the role assigned to guaranteed banks, which do not seem to be mere creditors enforcing their securities, but shall take into account the concurrent interests' of other stakeholders. Essentially, a new kind of private enforcement proceeding arises out from a coherent construction of the whole legal framework, considering that such proceeding is leaded by a qualified creditor. Another point of view of this analysis is the future perspectives of ordinary «pactum marcianum» in light of the current, highly-proceduralisated regulation set out by the new special provisions. Particularly, the focus is set on the question whether these new rules, by overcoming the most recent case-law of Italian courts, impliedly forbid any other use of such «pactum», or - as it seems to be more persuasive - they provide some essential elements in order to outline the legal framework of ordinary assignments for security purpose, to be still considered as permitted by law within the same limitations.