Mortgage deed return
July 19, 2016 | 100,00 EUR | answered by Jan Wilking
The request for a transfer of a mortgage bond was, in my opinion, morally reprehensible.
The mortgage bond (subordinately registered) was transferred so that the recipient (an investor for a software company) could pay overdue fees to the mortgage bond holder.
Only rudimentary payments were made (evidence of bounced checks).
The software company filed for insolvency approximately 6 months after the transfer of the mortgage bond (was rejected due to lack of assets in 2006).
The investor - in possession of the mortgage bond - refuses to return the transferred mortgage bond.
Dear advice seeker,
Thank you for your inquiry.
If the mortgage itself still exists, the creditor continues to have ownership of the mortgage deed. This is stated in § 952 paragraph 2 of the Civil Code. This mandatory provision prevents a document and the right documented therein from going separate ways.
If the debt secured by the mortgage has neither been fully paid off nor assigned, as the creditor and owner of the deed, you have a claim for return under § 985 of the Civil Code against the current holder of the deed.
Best regards,
Jan Wilking, Attorney at Law
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