Apr 24, 2018 18:44
6 yrs ago
7 viewers *
Spanish term

Carta Condicionada al pago

Spanish to English Law/Patents Real Estate Real Estate
It´s a letter given by the bank to a person who has a mortgage in their property when that person wants to sell the property and pay the loan out of the sales transaction.

Discussion

Isabel Arechiga (asker) Apr 25, 2018:
Hi Lorena Yes, the full version is "carta de cancelación de hipoteca condicionada al pago" is there a similar term in english?
lorenab23 Apr 24, 2018:
Hi Isabel I see you are in Mexico, is this where the term comes from? If so, based on my experience "carta condicionada al pago" is the short version of "carta de cancelacion de hipoteca condicionada al pago". can you please confirm?
AllegroTrans Apr 24, 2018:
Agree with Phil We need more of this text and we also need to know which country this is from. Many countries, many different procedures.
philgoddard Apr 24, 2018:
If this is the heading, what does the letter say? Or, if it's a phrase in some other text, what does it say before and after this?

Proposed translations

1 day 1 hr
Spanish term (edited): carta de cancelación de hipoteca condicionada al pago

certificate/confirmation of vacation/discharge/release on payment

What is the best way to discharge a mortgage? | Homes and Property
https://www.homesandproperty.co.uk/mortgages/what-is-the-bes...

28 Mar 2012 - I see no point in incurring a solicitor's fees to discharge your mortgage when it can be done so easily by your bank, so I would suggest that you accept their offer. The procedure is different if your property is unregistered as it will be necessary for the bank to endorse a "vacating receipt" on the original ...
What happens after the last mortgage payment? - The Irish Times
https://www.irishtimes.com/.../what-happens-after-the-last-m...

20 Oct 2000 - The home owner must present their vacated mortgage to whichever office applies to their property, and the office records the fact that the lender no longer has a charge on the deed. The fee for this service is £20 in the Land Registry Office and £12 in the Registry of Deeds. It is the individual's responsibility ...

Release of Bank Mortgages - The Law Society of Ireland
https://www.lawsociety.ie/Solicitors/Practising/Practice.../...

By the time the vendor's solicitor realises that payment of the home loan liabilities does not discharge all liabilities secured by the mortgage deed/deeds, the purchase monies are likely to have been paid out and the vendor's solicitor may be in a position of having to honour an undertaking to furnish a release or vacate of the ...



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Note added at 1 day 1 hr (2018-04-25 20:36:20 GMT)
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What is the best way to discharge a mortgage? | Homes and Property
https://www.homesandproperty.co.uk/mortgages/what-is-the-bes...

28 Mar 2012 - Question: I have received a letter from my bank because my mortgage is coming to an end very soon. This letter asks me if I want to use my solicitor to discharge the bank's legal charge on the property or whether I want them to do it for me. Will it make any difference who does it? What do you think the best ...
What is the cost of a mortgage discharge? | reallymoving.com
https://www.reallymoving.com/.../faq/what-is-the-cost-of-a-m...

Rating: 4.6 - ‎8,868 reviews
12 Jun 2017 - Read our Q&A on the cost of a mortgage discharge, answered by Property Professor, Mary McQueen. Visit reallymoving.com for more information.
Discharging a Mortgage in Scotland - McSherry Halliday
https://www.mcsherryhalliday.co.uk/discharging-a-mortgage-in...

When you are in the fortunate position that your mortgage has been paid off, your mortgage lender will usually contact you to advise you that your account is cleared. They will also give you the opportunity to have the security discharged. You may re...
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+1
1 day 4 hrs

[Mortgage] payoff statement

In the US, it is simply known as a mortgage payoff statement.
Please see explanation here:
https://mortgage.info/understanding-your-mortgage-payoff-sta...

Why "condicionada al pago" in Spanish? because the amounts provided on the letter are "conditional" to the mortgage being paid off by the date listed on the letter

A couple of things to bear in mind: In Mexico, the lender will send the letter to the "notario publico" you have indicated when you requested the letter, who will assist the borrower with the loan transactions; in the US these transactions are handled by a title company.

Here a reference to the process in the US:
https://budgeting.thenest.com/pay-off-mortgage-balance-selli...

Here an explanation from Mexico:
lo que te pidio la caja de ahorro se llama CARTA DE CANCELACION DE HIPOTECA CONDICIONADA AL PAGO, la carta de manifestacion de saldo es eso nada mas cuanto debes, la carta de cancelacion condicionada al pago te la otorga el banco dirigida al notario que tu designes no puede ser a quien corresponda, en ella te pondran los datos de tu credito, tu saldo actual a liquidar con una fecha especifica para liquidar esa cantidad, la clabe interbancaria para su pago, y el nombre y datos de la persona autorizada por el banco con la cual se podra poner en contacto el notario a fin de formalizar la operacion
https://www.clubhipotecario.com.mx/preguntas-y-respuestas/vi...

Hopefully this is what you are talking about. Hard to be sure with such little context provided.
Peer comment(s):

agree AllegroTrans : sounds OK if asker does in fact need US English
15 hrs
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