Comments on: Why some Bulgarian Dreams’ properties will probably never be finished http://mhlegal.eu/blog/why-some-bulgarian-dreams-properties-will-probably-never-be-finished/ Bulgarian solicitors and lawyers company registration, conveyancing, litigation, haulage permits, general legal services to the business Sat, 04 Feb 2012 22:25:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Milen Hristov http://mhlegal.eu/blog/why-some-bulgarian-dreams-properties-will-probably-never-be-finished/#comment-4871 Milen Hristov Tue, 19 May 2009 09:09:00 +0000 http://mhlegal.eu/blog/?p=56#comment-4871 John, if you have the deeds your apartment is likely NOT to be mortgaged by the developer's bank. So in short, check if you still have mortgage over the apartment. The mortgage is an encumbrance that can be transferred along with the property. Usually the notaries don't certify purchases if there is a mortgage, but you should double check. If you are in situation that you have deeds AND there is a mortgage, you CAN lose the property unless you repay the mortgage to the bank. John, if you have the deeds your apartment is likely NOT to be mortgaged by the developer’s bank. So in short, check if you still have mortgage over the apartment.

The mortgage is an encumbrance that can be transferred along with the property. Usually the notaries don’t certify purchases if there is a mortgage, but you should double check. If you are in situation that you have deeds AND there is a mortgage, you CAN lose the property unless you repay the mortgage to the bank.

]]> By: john http://mhlegal.eu/blog/why-some-bulgarian-dreams-properties-will-probably-never-be-finished/#comment-4738 john Fri, 15 May 2009 16:48:53 +0000 http://mhlegal.eu/blog/?p=56#comment-4738 if a developer goes bankrupt owing a substantial amount of money to a bank in Bulgaria this money being secured through a mortgage on the development but i have paid for my apartment in full and have the deeds etc,can the bank take my apartment of me. if a developer goes bankrupt owing a substantial amount of money to a bank in Bulgaria this money being secured through a mortgage on the development but i have paid for my apartment in full and have the deeds etc,can the bank take my apartment of me.

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