mortgage

The mortgage is, according to German property law, the real right to demand the payment of a certain amount of money from a piece of real estate or a right equivalent to land (for example, a residential property or a hereditary building right). The mortgage is regularly used as collateral.

It is an abstract right; the claim is initially "for itself" and is not bound to another contract (eg real estate loans), it is also initially irrelevant who owns the land or the real estate equivalent.

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