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08:34 Oct 12, 2000
German to English translations [PRO] Law/Patents - Real Estate
German term or phrase:rangbereitester
Er is berechtigt, Bankdarlehen ..... durch Grundpfandrechte am Grundbesitz der Gesellschaft an rangbereitester Stelle abzusichern
Explanation: I have come across this expression before in a contract. I understand it to mean that the person will receive the next available security. So if someone else already has a first mortgage, the next available is the second mortgage and so on. This ranking is important if the person goes bankrupt.
Sibylle Ferner Local time: 15:49 Native speaker of: German PRO pts in category: 4