In a real estate mortgage pool with a mortgage guarantee, the mortgage status of the real estate asset is a necessary element.
Mortgage state: what is it?
A mortgage statement is a document held by the public service of land registration (formerly the mortgage registrations). It is a real logbook in which is contained the legal situation of each property in France. Archived at the relevant departments, a mortgage statement contains a statement of the various publications or a list of potential mortgage registrations. In other words, this document summarizes for a real estate property all the following elements:
- The successive owner (s) of the real estate
- Successive statement (s) of mortgage registrations
- A survey of the different publications
- The various charges that weigh on the property such as the seizure command
What is the point of a mortgage in a real estate mortgage?
In a group of real estate loans, the role played by the notary is essential and indispensable. In fact, the latter must check, before any real estate project, the precise quality of the property. The mortgage state, which is a document maintained by the land-registration service on which the property is geographically dependent, makes it possible to trace the life of the real estate. With this document, the notary references and verifies all the elements relating to the legal situation of the property including the owners, the guarantees taken and even the expertise. In addition, in a home loan consolidation with a mortgage guarantee, the bank or lending institution will ask the borrower for a mortgage statement to determine which mortgage rank to place.
Credit Redemption: How to Get a Mortgage Statement?
In a real estate mortgage repurchase with a mortgage guarantee, the security of the transaction depends primarily on the mortgage status, an essential element that the solicitor solicits and analyzes for the borrower as well as for the lender. This document is issued by the land registration service, the borrower or the notary can apply either:
- by contacting the land registration service directly,
- by filling out on the website of this service a dedicated form.