German: AblösegläubigerEnglish translation: Redeeming creditor 
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| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | | German term or phrase: | Ablösegläubiger | | English translation: | Redeeming creditor | | Entered by: | Lee Penya |
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German to English translations [PRO]
Law/Patents - Law: Contract(s) / Property law | | German term or phrase: Ablösegläubiger | This term appears in a contract for the sale of real estate:
"Die Finanzierungsgläubiger werden hiermit angewiesen, die besicherten Kreditmittel bis zur vollständigen Zahlung des Kaufpreises nur hierfür zu verwenden; die Auszahlungsansprüche werden daher an den Verkäufer bzw. etwaige ***Ablösegläubiger*** abgetreten." |
| | | Redeeming creditor | Explanation:
The payout/drawdown claims are therefore assigned to the Vendor/Seller and/or any redeeming creditors i.e. mortgagees paying off (ablösen) prior or subsequent mortgages.
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| Selected response from:
Tom Thumb
Austria
| Note from asker to answerer| 3 KudoZ points were awarded for this answer |
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2 hrs confidence:   |
2 hrs confidence: |
| succeeding debtor
Explanation:
as well:
succeeding creditor
I am not absolutely sure though if this is really the term, as it had some hits on google but not many.
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5 hrs confidence: |
| Redeeming creditor
Explanation:
The payout/drawdown claims are therefore assigned to the Vendor/Seller and/or any redeeming creditors i.e. mortgagees paying off (ablösen) prior or subsequent mortgages.
Example sentence(s):- The court held that, in order to preserve his rights, a junior creditor must redeem from the next senior redeeming creditor, even if he was that senior ...
Reference: http://caselaw.findlaw.com/scripts/getcase.pl?court=mn&vol=a...
| Tom Thumb
Austria
Specializes in field
Native speaker of:  English
PRO pts in category: 213
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The translation workplace 
