mortgage
July 22, 2009 | 20,00 EUR | answered by Andreas Scholz
Dear Sir or Madam,
My future son-in-law wants to buy a house, and I have registered a mortgage on my debt-free property. It has already been notarized and registered in the land register. Is it possible for me to cancel the mortgage? Thank you for your response.
Dear inquirer,
Since the land charge was likely established in favor of a bank to secure a loan, at least the bank's approval is required for deletion, in whose favor the land charge is registered. Without the bank's approval, deletion cannot generally be carried out.
If the loan amount has already been paid out, the bank will not agree to deletion, as this would result in the loss of a security measure.
If you have only established an owner land charge, you can of course have it deleted at any time. In this regard, I assume that your reference to the notary means the notarial certification of your signature on the application for the land charge to the land registry office.
I hope I was able to help you. If you have any questions, please feel free to ask.
Sincerely,
Andreas Scholz, Attorney
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