mortgage

Articial Building Intelligence with iTWO fm

According to German property law, a land charge is the right in rem to transfer ownership of a plot of land or a right equivalent to real property (for example, a condominium or a Leasehold) to demand payment of a certain amount of money. The land charge is regularly used as collateral for a loan.

It is an abstract right; the claim initially exists "for itself" and is not tied to another contract (e.g. real estate loan), nor does it initially matter who owns the real estate or the right equivalent to real estate.

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