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Bestellung der Grundpfandrechte

English translation: creation of charges on real property

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Bestellung der Grundpfandrechte
English translation:creation of charges on real property
Entered by: Kim Metzger
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15:24 Jun 4, 2002
German to English translations [PRO]
Law/Patents - Real Estate / condominium purchase contract
German term or phrase: Bestellung der Grundpfandrechte
I've been translating Grundpfandrechte as mortage and also as encumbrance on real property. I know that "charge on property" is also given as a translation. I really can't figure out how -rechte fits in to a mortgage. And I'm especially having trouble now with Bestellung der Grundpfandrechte.

Verkäufer und Käufer erteilen sich gegenseitig, sowie den Notariatsangestellten

NAME OF PERSON, NAME OF PERSON
-dienstansässig Aßlar, x Str. 100-
- mit Einzelvertretungsvollmacht -

unter Befreiung von den Beschränkungen des § 181 BGB

V o l l m a c h t

alle Erklärungen abzugeben, zu denen der Verkäufer aufgrund vorstehender Bestimmungen verpflichtet und zu denen der Käufer auf Grund der erteilten Vollmacht berechtigt ist. Frau x und Frau x sind auch berechtigt im Rahmen der Bestellung der Grundpfandrechte zugunsten der jeweiligen Gläubiger die erforderlichen Schuldversprechen abzugeben und sich für den Käufer wegen dieser Forderung der sofortigen Zwangsvollstreckung in sein sonstiges Vermögen zu unterwerfen.
Kim Metzger
Mexico
Local time: 02:46
creation of charges on real property
Explanation:
Suggested translation:

...mutually authorise each other...

to make any and all declarations to which the seller is obligated in accordance with the above provisions and to which the purchaser is entitled pursuant to the authority granted. In connection with the creation of charges on real property, Ms x and Ms x are also entitled to acknowledge the debt [to issue the required promissory notes] vis-à-vis the relevant creditors and to consent, with regard to this claim, on behalf of the purchaser to immediate execution in the purchaser's other assets.

Background: There are various forms of Grundpfandrechte in accordance with the BGB, a mortgage is only one form. The parties obviously wish to cover them all, this is why they use the overall term Grundpfandrechte (= charges on real property) and not just Hypothek (mortgage).

Charges on real property (or security interests in real property, if you prefer) are *created*, not executed or granted (although you could get away with "granted" if you use "security interest").


--------------------------------------------------
Note added at 2002-06-05 03:06:22 (GMT)
--------------------------------------------------

Hi Kim,

Just saw your note. Actually, it should read \"execution *against* the buyer\'s [purchaser\'s] other assets\".
Selected response from:

Beate Lutzebaeck
New Zealand
Local time: 20:46
Grading comment
Thanks Darien. Better late than never.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4hypothecary rights
Eva Blanar
4creation of charges on real propertyBeate Lutzebaeck
3granting of mortgages
Anja Brito


Discussion entries: 1





  

Answers


8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
hypothecary rights


Explanation:
The sentence / situation is a little strange, indeed.

Eva Blanar
Hungary
Local time: 09:46
Native speaker of: Hungarian
PRO pts in category: 4
Login to enter a peer comment (or grade)

52 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
granting of mortgages


Explanation:
I've played around with the sentence for a bit, and here's what I came up with. Maybe this is something you can work with...

"In connection with the granting of the mortgages to the respective creditors, Ms. X and Ms. are also authorized to provide the necessary payment undertakings and to submit themselves, with regard to the buyer, to the prompt execution on the buyer's other assets for [the collection] of this debt."

Or something along these lines. Instead of "for the collection of this debt", you might want to simply say "for this claim"...

Anja Brito
Canada
Works in field
Native speaker of: Native in GermanGerman
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
creation of charges on real property


Explanation:
Suggested translation:

...mutually authorise each other...

to make any and all declarations to which the seller is obligated in accordance with the above provisions and to which the purchaser is entitled pursuant to the authority granted. In connection with the creation of charges on real property, Ms x and Ms x are also entitled to acknowledge the debt [to issue the required promissory notes] vis-à-vis the relevant creditors and to consent, with regard to this claim, on behalf of the purchaser to immediate execution in the purchaser's other assets.

Background: There are various forms of Grundpfandrechte in accordance with the BGB, a mortgage is only one form. The parties obviously wish to cover them all, this is why they use the overall term Grundpfandrechte (= charges on real property) and not just Hypothek (mortgage).

Charges on real property (or security interests in real property, if you prefer) are *created*, not executed or granted (although you could get away with "granted" if you use "security interest").


--------------------------------------------------
Note added at 2002-06-05 03:06:22 (GMT)
--------------------------------------------------

Hi Kim,

Just saw your note. Actually, it should read \"execution *against* the buyer\'s [purchaser\'s] other assets\".


    Dietl/Lorenz, Legal dico
    Romain, Legal dico
Beate Lutzebaeck
New Zealand
Local time: 20:46
Specializes in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 26
Grading comment
Thanks Darien. Better late than never.
Login to enter a peer comment (or grade)




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