Immovable real security

What is immovable real security?

Real property liens that arise through the pledging of real estate serve as immovable real collateral. They are entered in the land register as the register kept by the registry court of all properties in the district court concerned.

Types of liens

mortgage

the mortgage as a lien on a property that serves to secure a claim (§§ 1113-1190 BGB). It is usually a security in long-term lending business. The mortgage comes about through an agreement between the lender and the property owner, entry of the mortgage in the land register and delivery of the mortgage letter. In the land register, the creditor, the monetary amount of the claim, the interest rate and the monetary amount of ancillary services, if these have been agreed, are to be named.

Land charge

the Land charge (§§ 1191-1198 BGB), which does not require the existence of a claim. There is thus an economic, but no legal, connection between a loan that is secured by a land charge and the land charge. An owner land charge arises when a property owner has a land charge registered for himself, as well as by repaying a mortgage in the amount of the repayment amount.

Pension debt

the Pension debt, for which a certain sum of money (pension) is to be paid from the property at regular intervals (§ 1199 BGB). It cannot be terminated by the obligee, while the debtor can redeem it by paying the value entered in the land register.

In practice, land charges in particular play a prominent role as immovable real securities.