Glossary entry

French term or phrase:

Situation hypothécaire vierge

English translation:

(BrE) clear mortgage search

Added to glossary by Swiss Bankers
Mar 30, 2014 13:17
10 yrs ago
21 viewers *
French term

Situation hypothécaire vierge

French to English Other Real Estate from a Promesse synallagmatique de vente
"ABC réalisera, pour le compte de la Société en formation, l'acquisition d'un terrain à bâtir de number m² situé sur les communes de -- (number m²) et d'-- (number m²) (le "Terrain") pour un prix hors taxe de number €, dont number € hors taxes ont déjà été payés par ABC au titre de l’indemnité d’immobilisation. Cette acquisition sera réalisée dans le cadre d'une promesse synallagmatique de vente signée le date entre ABC et l'actuel propriétaire du terrain, le groupe --.

Cette promesse, valable jusqu'au 9 février 2015, sera exécutée par ABC dès la réalisation des conditions suspensives suivantes :
- Purge du droit de préemption;
- Situation hypothécaire vierge;
- Etablissement de l'origine de propriété;
- Terrain nu et dépollué par le vendeur;"

I understand the meaning but wonder if there is a neat and tidy way of expressing this.

Many thanks for you help.

Proposed translations

+1
26 mins
Selected

(BrE) clear mortgage search

Mortgage to include a (local planning) land charge.
Peer comment(s):

neutral AllegroTrans : search would be recherche/examen - it simply means mortgage-free - you need to see beyond the narrow confines of little England, form LLC1 et al; I think the words imply that a search has been done without actually satying so
10 hrs
I did preface my answer with BrE = British English.
agree Nikki Scott-Despaigne : Accurate representation of the French situation.
21 hrs
Thanks. You certainly know your conveyancing.
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4 KudoZ points awarded for this answer. Comment: "Many thanks"
+2
33 mins

Mortgage-free

Or "mortgage-free terrain" if you prefer.
Note from asker:
Thank you, Alain. The client confirmed Tom's answer.
Peer comment(s):

agree Lorraine Dubuc : libre de toute hypothèque
28 mins
agree AllegroTrans
10 hrs
neutral Nikki Scott-Despaigne : In law, you can affirm that a search gave a clear result; that is not quite the same as affirming there is no mortgage (error on the record for example). Got professional indemnity claims in mind! The FR does refer to the "situation".
21 hrs
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15 hrs

unencumbered title

A somewhat more stringent condition than the French phrase, but probably the practical equivalent in most cases.
Peer comment(s):

neutral Nikki Scott-Despaigne : Spot on solution, if, and only if, no other charges attach to the property in question. It may be the case, but the original does refer only to "hypothèques". So I share your reserves.
6 hrs
neutral AllegroTrans : refers specifically to mortgages - other encumbrances (e.g. servitudes) are quite likely to exist in any event
7 hrs
Right. But in practice, mortgages are the main concern. (And if you're talking 'servitudes', why aren't you talking 'hypothecs'?)
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