Cancellation voluntary mortgage
Law No. 40/2007 - adopted by the Bersani Decree bis - allows the automatic cancellation of the mortgage voluntary, ie the non-judicial and / or legal advice.
The benefit system can be applied to ' mortgage on a mortgage , either automatically or "old style", ie by an act signed before a notary. To take advantage of the Act, the bank must notify the successful termination of the loan to the Agency of Natural Resources. This, in addition to eliminating the necessary presence of a notary to cancel all bank charges related to the cancellation of the mortgage , because in paragraph 8 Septis is stated that the procedure should be performed "without any charge to the debtor."
For cases of mortgages extinct after the date of June 2, 2007, the bank is required to send notification to the competent office within 30 days after ' extinction . In the case of mortgages extinct before that date, 30 days leave from date of request receipt by the debtor, such request must be made by registered A / R debtor institution.
Some notes are important to remember:
- today there are no administrative sanctions against banks that do not send notice to the Agency of the Territory, so it is sometimes necessary to make a written request to the bank
- if an application for a new mortgage , shortly after the extinction of the former, the automatic cancellation of the mortgage might be difficult, in fact, during the 30 days to notify the extinction of the mortgage , the bank has the right to object behind the "just cause"
- in difficult situations (eg the one mentioned above) you should use the traditional method, with a deed in which the expenses will be charged to the borrower
- the presence of the deed, the bank is entitled to a contribution to the intervention of his lawyer.
