What is Joint Liability (Simultanhaftung)?
Joint Liability (Simultanhaftung) exists when a loan – usually a mortgage – is secured by several properties at the same time. This constitutes a pledge that encumbers not just a single property but multiple plots simultaneously.
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In the case of a Simultaneous Mortgage (Simultanhypothek), all affected properties are jointly liable for the entire outstanding loan amount. In the event of default, the bank may have all encumbered properties auctioned until the claim is fully satisfied.
Joint liability is recorded in the Encumbrance Sheet (C-sheet) of the Land Register and is therefore publicly visible. This form of security is often used for larger loans or interconnected real estate projects.
Example Land Register Extract
