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subrogación pasiva

English translation: mortgage assumption

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:subrogación pasiva
English translation:mortgage assumption
Entered by: Marian Greenfield
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10:24 Jun 23, 2005
Spanish to English translations [PRO]
Finance (general) / Mortgages
Spanish term or phrase: subrogación pasiva
En el caso de que...así como en el supuesto de subrogación pasiva de compradores en la obligación personal de los deudores...

I have found this definition of the term:
Subrogación pasiva: acción por la que el comprador de una finca asume los derechos y obligaciones de otra persona por razón de un préstamo anteriormente concedido con garantía de dicha finca.

I think it means the substitution of the *debtors* for another party, but don't know the term used.

Anybody? No passive subrogations please :)
daruthie
Local time: 05:01
assumption of mortgage; mortgage assumption
Explanation:
From http://www.nbre.com/glossary_s.htm
ASSUMPTION OF MORTGAGE: Assumption by the buyer of the primary liability for payment of an existing mortgage or deed of trust, which the seller remaining secondarily liable for the obligation


PPT] Real Estate Financing
File Format: Microsoft Powerpoint 97 - View as HTML
“Mortgage assumption”. Land is a “primary fund” for debt repayment. Grantee
gets “personal liability” on the debt. The “subject to” cases ...
www.law.csuohio.edu/faculty/ white/Real_Estate_Financing.ppt - Similar pages

[PPT] CHAPTER ONE
File Format: Microsoft Powerpoint 97 - View as HTML
Define the mortgage note. Define and explain the mortgage ... Mortgage Assumption.
Junior Mortgage. Purchase Money Mortgage. Trust deeds. Land contracts ...
www.cob.ohio-state.edu/~sanders/chapter002.ppt - Jun 21, 2005 - Similar pages

Denver Real Estate \Buying
MORTGAGE ASSUMPTION. When you assume an existing loan, your "down payment" is
the difference between the sale price and the loan balance. ...
www.denverhomesforsale.com/Buying.html - 26k - Cached - Similar pages

12.28 Mortgages
When a purchaser takes property with mortgage assumption the purchaser acquires
personal liability for the payment of the mortgage debt. ...
www.vuwriter.com/vumanuals.jsp?displaykey=UM00000075 - 96k - Cached - Similar pages

Selected response from:

Marian Greenfield
Local time: 23:01
Grading comment
Thanks for your help, Marian.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3assumption of mortgage; mortgage assumption
Marian Greenfield
4passive subrogation...
Gabriel Aramburo Siegert
4passive substitution
neilmac


Discussion entries: 1





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
subrogación pasiva
passive substitution


Explanation:
It does indeed mean what you suggest.

neilmac
Spain
Local time: 05:01
Native speaker of: English
PRO pts in category: 175
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
subrogación pasiva
passive subrogation...


Explanation:
Difficult term. But I believe you should consider it. At least it is present in some law forums. Greetings.

Gabriel Aramburo Siegert
Local time: 22:01
Native speaker of: Native in SpanishSpanish
PRO pts in category: 28
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
subrogación pasiva
assumption of mortgage; mortgage assumption


Explanation:
From http://www.nbre.com/glossary_s.htm
ASSUMPTION OF MORTGAGE: Assumption by the buyer of the primary liability for payment of an existing mortgage or deed of trust, which the seller remaining secondarily liable for the obligation


PPT] Real Estate Financing
File Format: Microsoft Powerpoint 97 - View as HTML
“Mortgage assumption”. Land is a “primary fund” for debt repayment. Grantee
gets “personal liability” on the debt. The “subject to” cases ...
www.law.csuohio.edu/faculty/ white/Real_Estate_Financing.ppt - Similar pages

[PPT] CHAPTER ONE
File Format: Microsoft Powerpoint 97 - View as HTML
Define the mortgage note. Define and explain the mortgage ... Mortgage Assumption.
Junior Mortgage. Purchase Money Mortgage. Trust deeds. Land contracts ...
www.cob.ohio-state.edu/~sanders/chapter002.ppt - Jun 21, 2005 - Similar pages

Denver Real Estate \Buying
MORTGAGE ASSUMPTION. When you assume an existing loan, your "down payment" is
the difference between the sale price and the loan balance. ...
www.denverhomesforsale.com/Buying.html - 26k - Cached - Similar pages

12.28 Mortgages
When a purchaser takes property with mortgage assumption the purchaser acquires
personal liability for the payment of the mortgage debt. ...
www.vuwriter.com/vumanuals.jsp?displaykey=UM00000075 - 96k - Cached - Similar pages



Marian Greenfield
Local time: 23:01
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1528
Grading comment
Thanks for your help, Marian.

Peer comments on this answer (and responses from the answerer)
agree  Margarita Palatnik: yup
36 mins

agree  Marina Soldati
1 hr

agree  LisaR
4 hrs
Login to enter a peer comment (or grade)




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