Glossary entry (derived from question below)
Spanish term or phrase:
subrogarse (el prestatario) en la hipoteca
English translation:
to assume the mortgage (the mortgagor)
Added to glossary by
Antonio Castillo González
Jul 30, 2003 23:01
21 yrs ago
10 viewers *
Spanish term
Best on the Legal Aspects of Business
Native in: Spanish 
Works in: English to Spanish, Spanish to English
subrogarse en la hipoteca
Spanish to English
Bus/Financial
mortgages credit loans
Si el comprador optara por subrogarse en la hipoteca o en parte de ella, pagaría el resto del precio, además del I.V.A. de la totalidad a las sociedades vendedoras.
Proposed translations
(English)
| 3 | assume the mortgage |
Alfred Delgado
|
| 4 +1 | should the buyer opt [decide] to subrogate the mortgage, or [any] part thereof... |
Terry Burgess
|
| 1 | ...subrogate the mortgage. |
Adolpho J Silva
|
Proposed translations
36 mins
Alfred Delgado
Native in English
Accurate and Natural Translations
Native in: English
Works in: Spanish to English, Portuguese to English, English to Spanish, and 3 more.
Related KudoZ points
:
84
Selected
assume the mortgage
I don't know if there is a technical difference between "subgrogate" and "assume." Subrogate means to step into the shoes of another and take over, which as far as I can tell is the same as "assume" in this case.
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Note added at 1 hr 37 mins (2003-07-31 00:38:52 GMT)
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Moreover, in the US, subrogate is generally used in cases where one entity is taking over the CLAIM to a debt, not taking over a debt itself. I think the document may be referring to the practice of assuming a builder\'s mortgage in Spain (and other countries).
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Note added at 3 hrs 23 mins (2003-07-31 02:24:17 GMT)
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Notice that in the reference above, www.accountingweb.co.uk/pdp/m08/8-8.htm, subrogation means something COMPLETELY different from what is referred to in the source text. Subrogation of a mortgage in English means that another entity buys the mortgager\'s claim to the mortgagee\'s debt on the mortgage. I am not sure the proper translation is assume, but subrogar(se) in this case is NOT subrogate.
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Note added at 1 hr 37 mins (2003-07-31 00:38:52 GMT)
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Moreover, in the US, subrogate is generally used in cases where one entity is taking over the CLAIM to a debt, not taking over a debt itself. I think the document may be referring to the practice of assuming a builder\'s mortgage in Spain (and other countries).
--------------------------------------------------
Note added at 3 hrs 23 mins (2003-07-31 02:24:17 GMT)
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Notice that in the reference above, www.accountingweb.co.uk/pdp/m08/8-8.htm, subrogation means something COMPLETELY different from what is referred to in the source text. Subrogation of a mortgage in English means that another entity buys the mortgager\'s claim to the mortgagee\'s debt on the mortgage. I am not sure the proper translation is assume, but subrogar(se) in this case is NOT subrogate.
4 KudoZ points awarded for this answer.
Comment: "The second note posted by Alfred Delgado was vital for choosing this answer. The normal meaning of "subrogate" is (according to Webster's):
1. to put into the place of another;
substitute for another,
However, the primary legal usage is described in Black's Law Dictionary as assuming a right, not a debt.
Consequently, although "subrogate the mortgage" might be correct, I find that "assume the mortgage" is more appropriate and leaves no room for misunderstanding.
Thanks to all
Antonio
Torremolinos, Spain"
+1
31 mins
Terry Burgess
Mexico
Mexico
Native in English
Mexico
I place Quality and Accuracy above speed
Native in: English 
Works in: Spanish to English, English
Related KudoZ points
:
2372
should the buyer opt [decide] to subrogate the mortgage, or [any] part thereof...
Anything in parentheses is optional Antonio.
See:
Tax Analysts: Free Bulletins: Real Estate: Real Estate, Vol. 3. ... - [ Traduzca esta página ]
... The Seventh Circuit has held that a bank was not entitled to equitably subrogate
its mortgage to a first mortgage that was senior to a federal tax lien ...
www.taxanalysts.com/www/tadiscus.nsf/0/ FDA88BB74053D43E852564CF0056D006?OpenDocument - 24k - En caché - Páginas similares
Articles from marbella-lawyers.com - Purchasing a Property from a ... - [ Traduzca esta página ]
... assuming the mortgage existing on the property, the contract should mention that
if you change your mind and decide not to subrogate the mortgage, thus paying ...
www.marbella-lawyers.com/BuyingFromDeveloper.shtml - 21k - 29 Jul 2003 - En caché - Páginas similares
8.8 Mortgage Indemnity Guarantees for shortfalls - Arrears ... - [ Traduzca esta página ]
... The right to subrogate was confirmed by the case of Woolwich Building Society
v. Browne. ... The Mortgage Code requires lenders to clarify these matters. ...
www.accountingweb.co.uk/pdp/m08/8-8.htm
Luck Antonio!
terry
See:
Tax Analysts: Free Bulletins: Real Estate: Real Estate, Vol. 3. ... - [ Traduzca esta página ]
... The Seventh Circuit has held that a bank was not entitled to equitably subrogate
its mortgage to a first mortgage that was senior to a federal tax lien ...
www.taxanalysts.com/www/tadiscus.nsf/0/ FDA88BB74053D43E852564CF0056D006?OpenDocument - 24k - En caché - Páginas similares
Articles from marbella-lawyers.com - Purchasing a Property from a ... - [ Traduzca esta página ]
... assuming the mortgage existing on the property, the contract should mention that
if you change your mind and decide not to subrogate the mortgage, thus paying ...
www.marbella-lawyers.com/BuyingFromDeveloper.shtml - 21k - 29 Jul 2003 - En caché - Páginas similares
8.8 Mortgage Indemnity Guarantees for shortfalls - Arrears ... - [ Traduzca esta página ]
... The right to subrogate was confirmed by the case of Woolwich Building Society
v. Browne. ... The Mortgage Code requires lenders to clarify these matters. ...
www.accountingweb.co.uk/pdp/m08/8-8.htm
Luck Antonio!
terry
Reference:
Peer comment(s):
| agree |
Parrot
: http://www.lectlaw.com/def2/s084.htm
4 mins
|
|
Well thank you kind lady!!..also for the refs.:-)
|
3 hrs
Adolpho J Silva
Brazil
Brazil
Brazil
Fast & reliable - 35 yrs all areas
Native in: German , Portuguese
Works in: German to English, German to Portuguese, English to Portuguese, and 13 more.
Related KudoZ points
:
12
...subrogate the mortgage.
Si el comprador optara por subrogarse en la hipoteca o en parte de ella, pagaría el resto del precio, además del I.V.A. de la totalidad a las sociedades vendedoras.
A translation could be as follows:
In the event buyer should opt to subrogate the mortgage, or part thereof, he would pay the remainder of the price in addition to the I.V.A., applicable to the group of seller corporations.
Greetings.
Adolpho J Silva
Accredited Translator
A translation could be as follows:
In the event buyer should opt to subrogate the mortgage, or part thereof, he would pay the remainder of the price in addition to the I.V.A., applicable to the group of seller corporations.
Greetings.
Adolpho J Silva
Accredited Translator
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