What is a book ground fault?

The term Encumbrance you will be interested if you are interested in real estate or mortgage financing. This basic debt is entered exclusively in the land register with the District Court, which is used to prove a loan debt. You would like to know what it has to do with this concept in connection with a mortgage loan. If you are planning a project for the construction or purchase of a property and you do not have enough money to buy it, you will also be able to look at financing through a loan or comparable loan. To secure this loan, the bank will then enter a land title debt into the land register entry in the section of III of the land register according to the amount of the loan.

Security is linked to the term "mortgage"

They themselves will be aware that the concept of security and reliability is closely related to credit and loans. For security, a bank carries its loan that it grants when buying or building a property into the land register. Other loans can also be entered here and the amount of the loans is subject to a credit limit. You need to know that banks have a book-borrowing charge up to a limit of 80% of the value of the property. They themselves can make this entry, the bank can do so, and banks can also secure other debts through a mortgage. Not only banks secure their loans and loans, but also in the land register can be registered as a book mortgage also other claims, which do not necessarily loans. For example, in the case of an inheritance or in the formation of a heiress community, book ground debts are usually entered into the land register of a property. Only authorized persons who are interested in the property or who are in connection with the loans can make an inspection of a basic mortgage.

The actual entry of the book ground debt

The entries in a land register to a land or building, can not be easily made by everyone. The actual registration is made by the Land Registry, which is located at a competent district court. The property or the property is always kept in a court district and here every land is recorded with a land register entry. There are no manless grounds. For further understanding and explanation, there is still the concept of Letter mortgage, There are, however, different types of basic debts, such as the real book-borrowed debt, in which an owner of a property or a property renounces the rights in rem to the lender. In the event of a delay in payment and a failure to pay a loan, the lender has already acquired ownership of the property or land. The situation is different in the case of letter mortgage, here only the loan is denominated, but it does not come to the transfer of property. Entries of the basic book debt are liable to pay and usually the owner of a property assumes these costs. In times of digitization, today's book-borrowed claims are also digitally visible and these debtor directories are even publicly accessible. In order to give you an exact idea of ​​the term, you should know the rate, the credit institution is hedged against the credit of the loan. So if you acquire a property or a property with the help of a loan, then the bank will have to register this corresponding ground mortgage in the land register. You will then also bear the cost of this registration and if you have repaid the loan one day, you must apply for the cancellation and the bank will grant you a deletion authorization. Again, costs for the deletion in the form of fees come to you.

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