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A Ipotek is a kind of mortgage, which is a security on a property for a debt or a loan of money. Ipotek is the lender's security for a debt. It is for protecting the lender's interests.

How can IPOTEK affect your property?
If the lender cannot receive his money he has the right to ask the Bailiff's Office to sell the property for debt collection. It does not matter if you are the debtor or not. The property is a security for a debt or a loan.

If you have bought a property (while there was an Ipotek charge on the property) from a person/company who has owed money to a lender (bank / company or person).
Ipotek can remain until the money will be paid. The lender has right to remove the ipotek.

If you are in such a situation, We recommend you to find out :

1- What's the amount of the ipotek?
2-Who is the ipotek owner?
3- The validity time of the ipotek
4- The interest rate of the ipotek

You can also ask the seller to make the ipotek to be removed.

Disclaimer: The information on this site is provided as a general guide. The above information is provided by legal representatives of YellAli. Whilst every effort is made to ensure that the site is up to date and accurate, information may be subject to change at any time. YellAli does not accept any responsibility or liability for inaccuracies in this information.

Tags: Property