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Grundschuld ohne Brief

English translation: uncertificated mortgage

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Grundschuld ohne Brief
English translation:uncertificated mortgage
Entered by: Kim Metzger
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21:40 Jun 1, 2002
German to English translations [PRO]
Law/Patents - Real Estate / real estate
German term or phrase: Grundschuld ohne Brief
So far I've translated Grundschuld ohne Brief as uncertificated mortgage. I'm aware from a previous KudoZ question that there are two translations of Grundschuld: mortgage and land charge. (See the KudoZ link below for the discussion.) I'm translating into US English, but since the source text is German, I'm wondering if land charge is closer to the German meaning of Grundschuld. I translated Grundbesitz is belastet as the real estate is encumbered.

Der Grundbesitz ist wie folgt belastet:

Abteilung II: keine

Abteilung III/1: 1.850.000,00 DM Grundschuld ohne Brief nebst 14 % Jahreszinsen für
die Volksbank Wetzlar-Weilburg eG, Wetzlar; vollstreckbar nach
§ 800 ZPO;

Abteilung III/2: 150.000,00 DM Grundschuld ohne Brief nebst 14 % Jahreszinsen für
die Volksbank Wetzlar-Weilburg eG, Wetzlar;

Abteilung III/3: 1.500.000,00 DM Grundschuld ohne Brief nebst 14 % Jahreszinsen für
die Volksbank Wetzlar-Weilburg eG, Wetzlar; vollstreckbar nach § 800 ZPO wegen eines letztrangigen Teilbetrages in Höhe von 500.000,00 DM nebst anteiligen Zinsen.

Abteilung III/4: 16.500.000,00 DM Briefgrundschuld für Volksbank Wetzlar-Weilburg eG, Wetzlar nebst 15 % Jahreszinsen.


http://www.proz.com/?sp=h&eid_c=9171&id=96288&keyword=Grunds...
Kim Metzger
Mexico
Local time: 17:18
See explanation
Explanation:
Grundschuldbrief = ein ueber eine Grundschuld erteilter Brief. Er is ein sachenrechtliches Wertpapier im weiteren Sinne. Auf ihn kommen gemaess Art. 1192 BGB die Vorschriften ueber den HypothekenBrief entsprechend zur Anwendung. So erwirbt der Glaeubiger die Grundschulg erst wenn ihm der Grundschuldbrief uebergeben wird (Art. 1117 BGB). Der Grundschuldbrief kann auch auf den Inhaber ausgestellt werden. Die gleichen Verfahrensgesetze gelten wie fuer den Hypothekenbrief.

Grundschuld = dingliches Recht an einem Grundstueck in der Form des dinglichen Verwertungsrechts, und als solches eine Sonderform des Grundpfandrechts.
There is a lot more and if you want to read it, e-mail me.
I would be inclined to translate your term as "uncertificated mortgage." The entire concept is so complicated and different from our standard mortgage that you have virtually no chance of conveying the information without a long translator's note.
Contact me if I can help further.
Selected response from:

Dr. Fred Thomson
United States
Local time: 16:18
Grading comment
Thank you Fred. I think I'll forgo the long translator's note. This seems most appropriate for an American buying property in Germany.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1mortgage without deed(s)Klaus Dorn
4See explanation
Dr. Fred Thomson
3land chargexxxsprinter


Discussion entries: 1





  

Answers


17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
mortgage without deed(s)


Explanation:
I wonder (and that's all I do), whether this refers to the fact, that the deed of the land which has been mortgaged is not with the lender (possibly a bank) or whether there isn't a deed in the first place.

Klaus Dorn
Local time: 01:18
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 3

Peer comments on this answer (and responses from the answerer)
agree  xxxjerryk
51 mins
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
land charge


Explanation:
I'd use "land charge". As you said, "land charge" may be closer to the German concept of "Grundschuld".

xxxsprinter
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
See explanation


Explanation:
Grundschuldbrief = ein ueber eine Grundschuld erteilter Brief. Er is ein sachenrechtliches Wertpapier im weiteren Sinne. Auf ihn kommen gemaess Art. 1192 BGB die Vorschriften ueber den HypothekenBrief entsprechend zur Anwendung. So erwirbt der Glaeubiger die Grundschulg erst wenn ihm der Grundschuldbrief uebergeben wird (Art. 1117 BGB). Der Grundschuldbrief kann auch auf den Inhaber ausgestellt werden. Die gleichen Verfahrensgesetze gelten wie fuer den Hypothekenbrief.

Grundschuld = dingliches Recht an einem Grundstueck in der Form des dinglichen Verwertungsrechts, und als solches eine Sonderform des Grundpfandrechts.
There is a lot more and if you want to read it, e-mail me.
I would be inclined to translate your term as "uncertificated mortgage." The entire concept is so complicated and different from our standard mortgage that you have virtually no chance of conveying the information without a long translator's note.
Contact me if I can help further.

Dr. Fred Thomson
United States
Local time: 16:18
Works in field
Native speaker of: English
PRO pts in category: 84
Grading comment
Thank you Fred. I think I'll forgo the long translator's note. This seems most appropriate for an American buying property in Germany.
Login to enter a peer comment (or grade)




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