Advice on Property Purchase with Release of Mortgage

The distinctive feature in this mandate lay in the fact that the property our Austrian client had chosen to buy was mortgaged. Hence, the mortgage had to be paid off by the client with the involved bank first before the ownership of the property could be transferred to him. To safeguard the client's interests, we arranged for the property to be blocked in favour of the client during an appointment conducted together with the seller at a Real Estate Registration Trustee Office. Thereafter, we supported the client in having the mortgage released and the title deed issued in his name.

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