One-time valuation declaration

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The Einmalvalutierungserklärung is Grundbuchrecht in mortgages and land charges the blame legal declaration of a mortgage creditor against a subordinate or peer mortgage creditors that the primary / peer mortgage only as a collateral of a particular loan is used and a Revalutierung of vacant land charge portions without the prior consent of the subordinate or peer Land debtor may take place.

General

One-time valuation declarations only occur if at least two land charges or security land charges for different land debtors are entered in Section III of a land register. It must be taken into account that land charges as non-accessory mortgage liens are completely independent of the existence and amount of the loan, therefore parts of the land charge become free through repayment of the loan and can still serve as security for the land debtor. Because of the improvement in his credit risk (measured by the loan-to-value ratio ), the subordinate or equal-ranking land debtor has an interest in ensuring that the senior or equal-ranking land debtor does not use the portions of land that he has freed through repayments as collateral for other loans by means of a security agreement with the security provider or revalue the loan but releases. This improves the credit risk of the subordinated land debtor to the free land charges. It is customary in banking for lenders to only accept senior or pari passu land charges if the senior or pari passu secured bank issues a one-off declaration of value. Despite the higher risk associated with subordinated financing, promotional banks under public law are particularly willing to grant subordinated, publicly subsidized and therefore low-interest loans. Here it is required that the obligee of the priority land charge submits a one-time declaration of valuation.

content

The one-time valuation declaration takes its name from the agreed one-time payment ("value date") of a loan which, after partial or full repayment in the meantime, is no longer to be paid out again against the existing land charge security ("revaluted") or to be secured by other loans. The senior or equal-ranking land debtor undertakes in the one-time valuation declaration to only claim the land charge that serves as his loan security for the loan originally secured with it ( property financing ) ( earmarking ). He can also undertake to deal with the freed portions of the land charges as requested by the subordinate land charge creditor , who can optionally request a (partial)  cancellation permit or partial assignment . It can also be agreed that changes to security agreements and the consent of the property owner are required.

Other security options for the subordinate land debtor

In addition to the one-off declaration of valuation, there is also the option of submitting a declaration of the maximum amount . The senior land debtor can hereby undertake not to assert the land charge to the detriment of the subordinate land debtor beyond a certain maximum amount for a certain period of time. The assignment of reimbursement claims has a similar function to the one-time declaration of validation . However, the addressee of the subordinate land debtor is not the primary land debtor, but the property owner. The subordinate land register creditor can have this claim assigned.

Web links

Individual evidence

  1. ↑ a b c Thomas Thöne (ed.): Practical knowledge of banking law . 1st edition. Frankfurt School Verlag, Frankfurt 2011, ISBN 3-940913-29-4 , pp. 595 .
  2. ↑ A full value date is given if the nominal amount of the land charge corresponds to the amount of the secured claim
  3. ↑ Kai-Oliver Knops, Handbook on German and European Banking Law , 2009, p. 591