Mortgage deeds
What this is about
A mortgage is a security interest that allows the creditor to seize the debtor’s mortgaged property in the event of the debtor’s insolvency. This right concerns registered immovable or movable property. In the most common scenario, the mortgage right is granted upon the conclusion of a loan agreement to guarantee the repayment of the sum owed to the credit institution. For the mortgage to take effect, it must be duly registered and it must be precisely stated – by notarial deed – which assets are the subject of the mortgage and for what sum of money.
The role of the notary
To enter into a mortgage loan agreement, i.e. secured by a mortgage, the notary draws up a preliminary report for the bank attesting to the legal status of the property. On the basis of this report, the bank decides on the granting of the loan. Once the mortgage deed has been signed, the notary promptly proceeds to register the mortgage, performs additional up-to-date searches and draws up a final report for the bank, in which he indicates, among other things, the details of the mortgage taken as security for the loan. Our firm offers its expertise to support you with customized consulting.
