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"grundbuchlich gesichert"; "grundbuchliche Belastu

English translation: please see explanation

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14:14 Apr 27, 2000
German to English translations [PRO]
Bus/Financial
German term or phrase: "grundbuchlich gesichert"; "grundbuchliche Belastu
I'm working on an overview of a housing company's annual report, which highlights and annotates some of the items contained in its income statement and balance sheet. The vast majority of the company's revenue comes from rental income, but it also sells property.

In breaking down the company's liabilities to banks and other creditors, the following appears: "Die Kreditverbindlichkeiten sind zu __% (DEM ____ Mio.) grundbuchlich gesichert. Die grundbuchliche Belastung der einzelnen Immobilien liegt grundsätzlich unterhalb der hypothekenrechtlichen Beleihungsgrenze von 60% des Objektswertes." Not being all that familiar with the ins and outs of the Land Register, the adjective form is throwing me off, I'm not quite sure what is meant here. Is it that the company is using the property it has listed in the Land Register as collateral for __% of its loans and that these loans (special name?) are usually secured at a ratio to property value that is less than the 60% loan-to-value cap placed on loans on mortgages?
Cami Townsend
English translation:please see explanation
Explanation:
"Credit liabilities are secured up to __ % (DEM ___ million) by title and deed registered properties. Said individual properties’ liabilities lie invariably below the legally established mortgage loan limit of 60% of their appraised values."

I have translated these sorts of things in the past as per above and it was found acceptable to native-speaking US lawyers. Of course, it varies slightly from the original text but I couldnt think of any better solution. Hope this helps! B. Rgds, Joseph Hovan
Selected response from:

Joseph Hovan
Germany
Local time: 22:07
Grading comment
2 KudoZ points were awarded for this answer

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Summary of answers provided
naplease see explanationJoseph Hovan
naSee far belowDan McCrosky
nas. below
Dierk Seeburg
nasee belowHartmut Lau


  

Answers


8 hrs
see below


Explanation:
I cannot quite sort it out. I and my German colleagues here in Germany take grundbuchlich gesichert as meaning that there is no doubt about ownership. The US equibalent would be that a title search has been done and there is no doubt about the title.

Although how that fits here escapes me...

Sorry

Hartmut Lau
United States
Local time: 16:07
PRO pts in pair: 10
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9 hrs
s. below


Explanation:
How are 'secured by real property'; 'real property liabilities'?
HTH

Dierk Seeburg
Local time: 14:07
Native speaker of: Native in GermanGerman
PRO pts in pair: 404
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10 hrs
See far below


Explanation:
A or the "Grundbuch" really is a sort of official book or diary kept at the "Grundbuchamt" or "land records office" (BE) or "registry of deeds" (Hamblock/Wessels Großwörterbuch Wirtschaftsenglisch), nowadays hopefully all nicely computerized, wherein everything important concerning the ownership of a piece of property is chronologically entered. When they say the mortgage loan is "grundbuchlich gesichert", they mean that the mortgage has been entered in the Grundbuch so everyone can see who has which order claim on the property. As usual, the banks always get their money first. Your thoughts about the 60% are right. There is lots of European and German mortgage loan legislation which, among thousands of other things, limits the amount of the mortgage loan to a certain percentage of the legal property value. I would write: "Die Kreditverbindlichkeiten sind zu __% (DEM ____ Mio.) grundbuchlich gesichert. Die grundbuchliche Belastung der einzelnen Immobilien liegt grundsätzlich unterhalb der hypothekenrechtlichen Beleihungsgrenze von 60% des Objektswertes." = "The loans are secured up to __% (DEM ___million) by official land records office / registry of deeds entries. The individual mortgage encumbrance entries at the land records office / registry of deeds are in all cases below the legally prescribed mortgage loan limit of 60%." Whew!

Dan McCrosky
Local time: 22:07
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1541
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20 hrs
please see explanation


Explanation:
"Credit liabilities are secured up to __ % (DEM ___ million) by title and deed registered properties. Said individual properties’ liabilities lie invariably below the legally established mortgage loan limit of 60% of their appraised values."

I have translated these sorts of things in the past as per above and it was found acceptable to native-speaking US lawyers. Of course, it varies slightly from the original text but I couldnt think of any better solution. Hope this helps! B. Rgds, Joseph Hovan

Joseph Hovan
Germany
Local time: 22:07
PRO pts in pair: 2
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