Glossary entry

Spanish term or phrase:

Subhipotecar

English translation:

Sub-mortgage

Added to glossary by Eduardo López
Dec 13, 2019 16:21
4 yrs ago
2 viewers *
Spanish term

Subhipotecar

Spanish to English Law/Patents Law: Contract(s) Poder
... le confieren las siguientes facultades con relación a:

(F) Subhipotecar las hipotecas o créditos hipotecarios que se hubieren constituido en favor del poderdante, con los pactos y condiciones que convenga...



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Dear colleagues: I hope you all are doing great this week. This is from a power of attorney in Puerto Rico. Thanks a lot in advance...

Proposed translations

+5
5 hrs
Selected

Sub-mortgage

We shouldn't be too frightened to use a literal translation of sub-mortgage, namely an assignment of the mortgage oiself - not the same as a remortgage of the same asset.

Sub-demise is also arguably feasible for a mortgage 'by demise' so for a term of years, but not for créditos hipotecarios, namely mortgage loans and/or advances.

Same difference with (re-)assignment: the mortgage is transferred.

NB the first subletting of land in the UK is strictly called an 'underlease', thereafter a sub-underlease.

How to reflect the future subjunctive that I had once been told by an English Barrister in Madrid 'didn't exist': las hipotecas o créditos hipotecarios que se hubieren constituido > such mortgages or mortgage loans as may be (vs- have been) created....

Example sentence:

What is SUBMORTGAGE? When a person who holds a mortgage as security for a loan which he has made, procures a loan to himself from a third person, and pledges his mortgage as security, he effects what is called a “submortgage.”

US: An assignment transfers all of the interest the original mortgagee had under the mortgage (or deed of trust) to the new bank.

Peer comment(s):

agree Robert Carter
17 mins
Thanks and gracias! No doubt there is also such a double- vs. second-mortgage creature in Mexico...
agree David Hollywood : When a person who holds a mortgage as security for a loan which he has made, procures a loan to himself from a third person, and pledges his mortgage as security, he effects what is called a “submortgage.”
3 hrs
Thanks. Only problem is when we get to a submortgaging (mortgage subassignment) of the mortgage 'credits'. The US term of re-hypothecation (remortgaging) isn't really a runner, either.
agree neilmac
13 hrs
Thanks and gracias!
agree Luis M. Sosa
15 hrs
Solpayki / urpichay sonqoy> thanks in Quecha and gracias!
agree AllegroTrans
1 day 23 hrs
Thanks, though I had been anticipating an objection to the mortgage credits element.
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Gracias... totales."
2 hrs

Subrogate the mortgage

My guess.
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