Changing personal circumstances often create the opportunity to sell a property on which a prior mortgage registration exists, because the owner acquired it with a housing loan at a time when the loan has not yet been fully repaid.
In such complex cases, a specialized sale agreement is carefully drafted, under which the buyer pays the seller both the total agreed purchase price and the portion corresponding to the secured claim. The seller immediately repays the outstanding debt to the bank in full, and the bank consents to the release of the existing mortgage registration on the property, resulting in the buyer ultimately acquiring the property free of encumbrances.
But what happens if the buyer does not pay the total purchase price, including the portion of the secured claim, from their own funds, and instead finances the purchase through a bank loan? In this case, the buyer’s bank, which grants the second loan, assumes repayment of the prior mortgage upon disbursement, allowing the buyer to acquire the property with full legal title.
Numerous such transactions, which require specialized expertise, time-sensitive management, and absolute coordination among all parties, have been successfully completed by our office, ensuring smooth execution and complete legal security throughout the process.