English translation: If the mortgage deposit and right of acquisition of a long term lease on the building are made ...
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01:51 Dec 8, 1999
French to English translations [PRO] Law/Patents
French term or phrase:La réalisation du gage hypothécaire
En cas de réalisation du gage hypothécaire sur le batîment et de cession du droit d'emphytéose,....
Can anyone help with the translation of this sentence?
If the mortgage lien on the building is exercised and the right to long-term lease is transferred...
Explanation: Le Grand Dictionnaire Terminologique 1999 (CD-ROM) defines gage hypothecaire as follows: "Mortgage lien. 1) Descriptive of the right a lender has in granting a mortgage loan to a borrower. 2) A lien or charge on the property of a mortgagor that secures the underlying debt obligation. Note(s): The lien exists on the property, and can be exercised in the event of default."