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  3. Law: Contract(s)

(Grundschuld geben)

English translation: to grant the securitised loan

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:(Grundschuld geben)
English translation:to grant the securitised loan
Entered by: Jon Fedler

10:45 Mar 21, 2010
German to English translations [PRO]
Law/Patents - Law: Contract(s)
German term or phrase: (Grundschuld geben)
Wir haben Ihnen die *Grundschuld ausschliesslich im Vertrauen darauf gegeben*, dass das Vertragsverhältnis zwischen xxx und yyy zum Vertriebe cler yyy Produkte bestehen bleibt. Die Begebung der Grundschuld erfolgte ausschliesslich zu diesem Zweck und lediglich als Zeichen guten Willens. What is the right word here for geben? To give? transfer? assign?

See following question!
Jon Fedler
Local time: 21:26
to grant the securitised loan
Explanation:
I am only putting this in (low certainty) because I am a little uncomfortable with the use of "mortgage" here. The everyday German for mortgage is Hypothek; people very seldom use the term "Grundschuld" to describe a normal mortgage. Every Hypothek is a Grundschuld but not every Grundschuld is a Hypothek.

Anyway, it looks as though nearly everyone agrees on "grant" and the question was how to translate "geben"...
Selected response from:

YorickJenkins
Local time: 20:26
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4to grant a mortgage
Albert Fischer (Dipl. Jur., LL.B., BDÜ)
3grant?
David Wright
3 -1(to) issue a mortgage
Derek Gill Franßen
2 -1to grant the securitised loan
YorickJenkins


  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
grant?


Explanation:
not transfer or assign; I presume this is a bank referring to the grant of a mortgage (although I got many mroe hits for "give a mortgage" but that sounds just slightly "amateur"

David Wright
Austria
Local time: 20:26
Specializes in field
Native speaker of: English
PRO pts in category: 256
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21 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
Grundschuld geben
(to) issue a mortgage


Explanation:
I suppose I have to suggest this (see http://www.proz.com/kudoz/german_to_english/law:_contracts/3... , where--like David--I also come to the conclusion that one could use "give" here).
;)

Derek Gill Franßen
Germany
Local time: 20:26
Specializes in field
Native speaker of: English
PRO pts in category: 615

Peer comments on this answer (and responses from the answerer)
neutral  David Wright: This is what I first thought of, BUT: "we issued you the mortgage" - the indirect object just sounds wrong to me. (working on a Sunday, derek?)
9 hrs
  -> Both sound off. I discussed this with my mom, who is visiting for the weekend, and we concluded that in AE we would probably "mortgage some object" or "secure a loan with a mortgage." On a side note, we both agreed that "grant" would probably work too. :)
disagree  Albert Fischer (Dipl. Jur., LL.B., BDÜ): Throughout my studies in London, I never heard 'issue' in this context. maybe in the US? Been leafing through my books - no 'issue' of mortgages.
15 hrs
  -> First, it is clear that my answers are for AmE; so BrE may be different and often is, but I am not suggesting BrE. Second, "issue" is used in the National Housing Act, which--I'm sure you would agree--is an authoritative source.
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15 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
to grant a mortgage


Explanation:
MacKenzie & Phillips 'Land Law' 9th edition, 19.3

"...grants a mortgage as a security for the repayment of loans..."

'To issue' ist hier wirkich nicht richtig, das bezieht sich mehr auf Wertpapiere und Schuldscheine.

Albert Fischer (Dipl. Jur., LL.B., BDÜ)
Germany
Local time: 20:26
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 55

Peer comments on this answer (and responses from the answerer)
neutral  Derek Gill Franßen: I disagree with only with your last statement. Cheers, Albert. :)
7 hrs
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1 day 5 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): -1
to grant the securitised loan


Explanation:
I am only putting this in (low certainty) because I am a little uncomfortable with the use of "mortgage" here. The everyday German for mortgage is Hypothek; people very seldom use the term "Grundschuld" to describe a normal mortgage. Every Hypothek is a Grundschuld but not every Grundschuld is a Hypothek.

Anyway, it looks as though nearly everyone agrees on "grant" and the question was how to translate "geben"...

YorickJenkins
Local time: 20:26
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 16
Notes to answerer
Asker: Thanks David. Although ypur reply came in too late for use (unfortunately), I selected it because it made an important point about the translation of Grundschuld as 'mortgage'. Apropos, my client was not 100% satisfied with "mortgage". but I guess it passed as there's been no reaction.

Asker: PPS In case it's not clear, securitised loan would have been more accurate based on the document text (and helped me eunderstand what was going on!!!) Regards Jon


Peer comments on this answer (and responses from the answerer)
disagree  Derek Gill Franßen: Either way, it is certainly not a loan.
3 days 16 hrs
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