Purchase of a property with a land charge

Of course, the buyer can take over the land charge. For example, if he is financed by the same bank. He does not have to have it canceled and registered anew. However, the land charge is not a mortgage and therefore is not tied to a loan! The seller can continue to pay his loan as usual, but then he must provide his bank with substitute security. Because the land charge, if at all, transfers to the buyer... Is that understandable?

Thank you. Exactly your statement moves me forward. Thank you thank you thank you!

Hello guys,

I have a question about the following situation:
A few days ago we signed the purchase contract and also completed the application with the land charge for the bank together with the notary. Deadline 4 weeks to transfer the money. Now it is the case that the notary still hasn’t done anything and hasn’t sent anything to the bank but is now on vacation first. My problem is, when the notary returns from vacation, my bank advisor will be on vacation, so the process will be delayed by 5 weeks, and the money cannot be transferred on time. Who is responsible here? What would you advise me?

Regards

Contact the bank advisor again.
He should actually have a deputy and instruct them accordingly.

Briefly explain to him that the notary is on vacation (for how long?) and that the process must therefore be handled relatively quickly and smoothly afterwards. This should make him sensitize his deputy as well as the (responsible employee of the) credit department, which releases the funds once all necessary documents are complete.

If the payment date approaches and nothing happens: put pressure through your advisor’s deputy and inform the seller that delays may occur due to the vacation situation of the notary and the bank.

Which court in Germany manages to register a land charge within 3 weeks? That is almost an impossible thing. Was a priority certificate (costs extra) possibly also commissioned? Then you still have a somewhat realistic chance that it could work.

Which court in Germany manages to register a land charge within 3 weeks? That is almost impossible.

Was perhaps also a ranking certificate (costs extra) ordered? Then you still have a somewhat realistic chance that it could work.

You are right - I assumed it would be included.
In our case, the registration took over 2 months.