Establishment and Assignment of Land Charge

Hello everyone,

unfortunately, I could not find any answers to this online. If we choose 2 banks for our construction financing and a land charge has to be established for both banks, does an assignment also have to be made for both? And if yes, will the notary be able to notarize this together? That means, can the establishment and assignment per bank happen simultaneously? How high are these costs typically in percentage terms? That is, notary fees and land registry office combined.

Thank you in advance.

Daniela

Hello,

why are 2 banks involved? For example, promotional loans that have a passing-through bank are directly notarized in one appointment. This also makes sense as otherwise it would become unnecessarily more expensive. The land charge registration is (unfortunately) based on the amount of the land charge.

I once entered a purchase for 100k and a land charge of 100k:

Calculation result
Purchase of a property with land register entry
Land register costs:
Delete priority notice of conveyance 25€
Register land charge 273€
Register owner 273€
Register priority notice of conveyance 137€
Total land register costs 708€
Notary costs:
Notarization procedure for the purchase contract 546€
Execution fee for the purchase contract 137€
Support fee 137€
Signature certification 137€
Total notary costs 957€
VAT on total notary costs 182€
Total notary costs including VAT 1139€
Total costs (land register + notary) 1847€

Thank you. Two banks because one is the Commerzbank and the other is the WI Bank. That means Comba in first place and WI Bank in second. The plot is already notarized and the notary contract already paid. So that is out of the question. It is only about the financing amounts. How does it look with assignment for both?

Thank you. Two banks because one is Commerzbank and the other is WI Bank. That means Comba in first place and WI Bank in second. The property is already notarized and the notary contract already paid. So that is out of the question. It’s only about the financing amounts. How does it look regarding assignment for both?

Which assignment? Just ask the notary... You can’t avoid having it notarized. You surely have received the mortgage deed documents from both banks, right?

Yes, then I will do that. I understood that one always assigns to the banks. I have not received the documents yet.

Land charges are usually "assigned" when the bank changes, for example, in the case of follow-up financing. If two banks are involved from the beginning, two land charges may be registered and the order of priority recorded in the land register. But I am not exactly sure about that...