Notary Declaration 

A legal document that can be used as a temporary special arrangement for a bank before the actual lien (real estate lien or registered lien) will be registered in the register. A notary declaration can be used in scenarios where a requistion for a land register entry has been made even if the actual charge has not been entered in the land register. The notary confirms that the registration itself is planned in registry on the basis of the required ranking order.

 

In the standard system, you can create a special arrangement of type notary declaration and enter the following details:

 

·        Special arrangement identification and type

·        Status

·        Date of signing of the collateral agreement

·        Date on which the business partner has signed the declaration

·        Date until which the notary declaration is valid

·        Date on which the special arrangement must be monitored for fulfillment of the obligation

·        Business partner in partner function Notary

A notary declaration does not influence the value of a real estate lien.

 

Example scenario for a notary declaration:

 

The figure illustrates a scenario where an order has been made for the registration of the final collateral (real estate lien) but the actual charge is not entered in the register yet. If a notary declaration is available, the real estate lien can be set to statuses legally active and calculation relevant.