Grade Mortgage Registration: Rules, Notary and use of the Property

Grade Mortgage Registration: Rules, Notary and use of the Property

The so-called Mortgage Registration is the process that makes that guarantee effective and binding. We see how important the degree of registration, the costs of the transaction with the notary public, if there are no consequences for the enjoyment of the property.

Among the guarantees attached to the ignition of a Mortgage, the mortgage is now the most important and required by banks, although certainly not the only one. The mortgage application process takes a central role since it undermines the fairness of the transaction on the transaction and the drafting of the necessary deed that stipulates the transfer of ownership of the property.

As with the inscription: the Notary

The mortgage application process is performed by the notary to draw up a document (mortgage note), which must obligatorily be registered at the Conservatory of Real Estate Offices of the Territory. There is a log building in which they are reported all cases of legal mortgage or to purchase a property through mortgage and the cancellation is done by request, at the close of the loan.

Grade Enrolment

A particularly important, however, is the degree of entry when a property could affect more than a mortgage for various reasons.

The degree of registration of the mortgage down the prevalence of a mortgage than the other: there are mortgages of 1st, 2nd 3rd grade and so on.

Basically it is the order of registration to give priority, so the result is that each creditor will have to wait until the previous one is pleased to be able to turn through a sale of the property.

The enjoyment of the property mortgaged

There are consequences for those who want to live in a property on which there has been a registration of mortgages?

Basically, no: the life interest and enjoyment of the property is not hindered, by which a borrower has every right to live there or fulfilling the purpose for which you purchased it. In fact, the deed makes him the legal owner of the property.

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