Mortgage
A charge on land that is tied to a claim.
A mortgage encumbers a property to secure a specific claim. As the debt becomes smaller, the mortgage decreases as well. In practice, the more flexible land charge is now usually used instead.
The relevant statutes
§ 1113 BGB
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Related terms
General explanation for self-help, not legal advice (RDG). Individual cases may differ: if in doubt, contact a consumer advice center or a lawyer.