Did you receive a LEGAL MORTGAGE NOTICE?
Unlike conventional mortgages, the legal mortgage is a property right attached to the mentioned building and offers a guarantee to the creditors for their claims.
The only claims that can provide this guarantee are:
- The state claims for the amounts due under certain laws;
- The claims of those who participated in the
- The claim of the condominium syndicate for the payment of common expenses and contributions to the contingency fund;
- The debts that result from a judgment.
What happens if no action is taken?
Ultimately, the legal mortgage adequately published in the land registry office may allow the holder to sell the building in question in order to pay his debt to justice.
How can I rectify my situation?
To rectify your financial situation, you will need to adjust the amount of the loan or incurred delays. Each legal mortgage presents unique particularities; this is why you need to contact us, we review your application and offer the best alternative in order to correct your situation.