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Nachrückungsrecht

English translation: right to move mortgage to higher order of priority

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Nachrückungsrecht
English translation:right to move mortgage to higher order of priority
Entered by: Goldenbead
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07:22 Jul 11, 2008
German to English translations [PRO]
Law/Patents - Law: Contract(s) / Pfandrecht/Swiss
German term or phrase: Nachrückungsrecht
"Die Ränge der Grundpfandrechte bleiben grundsätzlich unabhängig davon konstant, ob neue Pfandrechte auf dem Grundstück errichtet oder bisherige Pfandrechte gelöscht werden. Möglich bleibt jedoch die Vereinbarung eines Rangrücktritts bzw. eines Nachrückungsrechts"
Goldenbead
India
Local time: 14:42
right to move mortgage to higher order of priority
Explanation:
right to move mortgage to higher order of priority / Nachrückungsrecht / droit d'avancement à un rang antérieur / diritto di subentrare in un grado anteriore
Right of the creditor next in order of priority to move up to the vacant place in the land register.
http://www.ubs.com/1/e/about/bterms/content_r.html
Selected response from:

casper
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Summary of answers provided
4(gen.) roll-up right; (spec.) tacking rightxxxAdrian MM.
3mortgagee's/lienholder's superseding rightHighest Quality
3right to move mortgage to higher order of prioritycasper


Discussion entries: 2





  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
right to move mortgage to higher order of priority


Explanation:
right to move mortgage to higher order of priority / Nachrückungsrecht / droit d'avancement à un rang antérieur / diritto di subentrare in un grado anteriore
Right of the creditor next in order of priority to move up to the vacant place in the land register.
http://www.ubs.com/1/e/about/bterms/content_r.html

casper
Native speaker of: Native in EnglishEnglish
PRO pts in category: 41
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11 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
(gen.) roll-up right; (spec.) tacking right


Language variant: UK/India

Explanation:
Could be CH/Switzerland.

Tacking: the mortgagee of the *same* piece of the mortgagor's land can roll up mortgage advances to the highest one in priority.

Consolidation: the same mortgagee of *different* tracts of land owned by the same mortgagor can join up mortgage advances over all of them and claim priority of payment (satisfaction) en bloc.

Example sentence(s):
Tacking is a technical legal concept arising under the common law relating to ... The mortgage is expressed to secure this advance and any future advances. ...






    Reference: http://en.wikipedia.org/wiki/Tacking_(law)
xxxAdrian MM.
Local time: 11:12
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 572
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1 day15 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
mortgagee's/lienholder's superseding right


Explanation:
sounds more elegant to me

Highest Quality
Germany
Local time: 11:12
Specializes in field
Native speaker of: Native in EnglishEnglish
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