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  3. Law: Contract(s)

Subhipotecar

English translation: Sub-mortgage

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Subhipotecar
English translation:Sub-mortgage
Entered by: Eduardo López

16:21 Dec 13, 2019
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s) / Poder
Spanish term or phrase: Subhipotecar
... 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...



___________
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...
Eduardo López
Puerto Rico
Local time: 12:00
Sub-mortgage
Explanation:
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....

Selected response from:

Adrian MM.
Austria
Grading comment
Gracias... totales.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +5Sub-mortgage
Adrian MM.
1Subrogate the mortgage
Elizabeth Joy Pitt de Morales


  

Answers


2 hrs   confidence: Answerer confidence 1/5Answerer confidence 1/5
Subrogate the mortgage


Explanation:
My guess.

Elizabeth Joy Pitt de Morales
Local time: 18:00
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +5
Sub-mortgage


Explanation:
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(s):
  • 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.

    Reference: http://thelawdictionary.org/submortgage
    Reference: http://www.lexico.com/en/definition/sub-demise
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 278
Grading comment
Gracias... totales.

Peer comments on this answer (and responses from the answerer)
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.
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