GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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01:47 Jun 4, 2002 |
German to English translations [PRO] Law/Patents - Law: Contract(s) / contract | |||||||
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| Selected response from: Beate Lutzebaeck New Zealand Local time: 16:13 | ||||||
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Summary of answers provided | ||||
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4 | increase in scope |
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4 | See suggested translation: |
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increase in scope Explanation: The privileges of the purchaser increase in scope with the transfer of property to him. |
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See suggested translation: Explanation: Upon transfer of title, the charges on real property are also taken over [accepted] by the purchaser who will continue to acquiesce in [to] their existence. Frankly, I'm not too sure what't going on here or what exactly the purpose of these transactions is. From what I can gather, the seller will arrange for the registration of charges on the property that are required as collateral for the loan. Typically it is the purchaser who requires a loan for the purchase of real estate and arranges security by way of mortgaging the relevant property. So, I don't know why it is the seller who takes over these tasks in your case. Anyway, the purchaser agrees with this arrangement and will "tolerate" the continuing existence of these encumbrances on his/her property. I chose "acquiesce" as this term expresses the fact that the purchaser is burdened with a charge/encumbrance, since the seller will not be personally liable for any claims secured by these charges (the seller is not liable in personam, whereas - in contrast - the purchaser is liable in rem = dinglich verpflichtet via the charge on the real property). |
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