KudoZ home » English » Real Estate

hypothecate

English translation: The bank retains legal ownership of the property until the debt is paid off BUT

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:hypothecate
English translation:The bank retains legal ownership of the property until the debt is paid off BUT
Entered by: Anna Maria Augustine at proZ.com
Options:
- Contribute to this entry
- Include in personal glossary

23:13 Nov 1, 2006
English to English translations [PRO]
Bus/Financial - Real Estate
English term or phrase: hypothecate
What is the meaning of this word in this context? The only two meanings I can find are "pledge" (as in a mortgage) and theorize. Neither of those meanings seems to work here. Any suggestions appreciated.

Among other deals in the works, Trump Mortgage has also been hired as exclusive broker to ***hypothecate*** a $25 million mortgage for a 200,000-square-foot building in Columbus, Ohio, in which Trump would sell the mortgage to another investor.
Jana Cole
Local time: 23:34
The bank retains legal ownership of the property until the debt is paid off BUT
Explanation:
Please read the link for a more up to date meaning of the word.
http://en.wikipedia.org/wiki/Hypothecate
Selected response from:

Anna Maria Augustine at proZ.com
France
Local time: 08:34
Grading comment
This was not the exact answer, but it was the most helpful. The traditional meanings were not appropriate.
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
3 +3to pledge property to secure a loan
Kim Metzger
5to provide a security interest for a loan
Charlesp
4 -2The bank retains legal ownership of the property until the debt is paid off BUTAnna Maria Augustine at proZ.com


Discussion entries: 1





  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -2
The bank retains legal ownership of the property until the debt is paid off BUT


Explanation:
Please read the link for a more up to date meaning of the word.
http://en.wikipedia.org/wiki/Hypothecate

Anna Maria Augustine at proZ.com
France
Local time: 08:34
Native speaker of: Native in EnglishEnglish, Native in FrenchFrench
PRO pts in category: 8
Grading comment
This was not the exact answer, but it was the most helpful. The traditional meanings were not appropriate.

Peer comments on this answer (and responses from the answerer)
disagree  Richard Benham: I don't see how this helps. In any case it is simply not true that a financial institution retains legal ownership in the case of a mortgage (or a hypothec for that matter); the Wikipedia entry is rubbish.
1 hr

disagree  Charlesp: sorry, but wrong. The bank has a secuirty interest, and might be able to take legal title if the loan isn't paid but this specifically and very clearly means that the owner retains legal title (even if they might agree to some restrictions on their use).
2 hrs
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
to pledge property to secure a loan


Explanation:
This isn't my specialty, so I can't vouch for this definition.

To pledge property to secure a loan. Though title to the property is not transferred, hypothecation creates a right by the creditor to liquidate the property to satisfy the debt in the event of default.

http://insurance.cch.com/rupps/hypothecate.htm


--------------------------------------------------
Note added at 2 hrs (2006-11-02 01:46:47 GMT)
--------------------------------------------------

To pledge (property) as security or collateral for a debt without transfer of title or possession.
http://www.answers.com/topic/hypothecate

hypothecate
v. from Greek for "pledge," a generic term for using property to secure payment of a loan, which includes mortgages, pledges and putting up collateral, while the borrower retains possession.

http://dictionary.law.com/default2.Asp?selected=890&bold=|||...


Kim Metzger
Mexico
Local time: 01:34
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 11

Peer comments on this answer (and responses from the answerer)
agree  Charlesp
30 mins

agree  maryrose: or securities or other assets
1 hr

agree  Erich Ekoputra: IMHO: to pledge transfer of the title of 200ksqf building estimated to worth $25M as a collateral for a loan...
2 hrs
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 5/5
to provide a security interest for a loan


Explanation:
lets say it is a verb, and a mortgage is one example of a noun related to this.

Charlesp
Sweden
Local time: 08:34
Works in field
Native speaker of: English
Login to enter a peer comment (or grade)




Return to KudoZ list


Changes made by editors
Nov 1, 2006 - Changes made by Tony M:
LevelNon-PRO » PRO


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search