Glossary entry (derived from question below)
Spanish term or phrase:
Hipoteca abierta de cuantía indeterminada
English translation:
open-end mortgage (AmE); \'all monies\' charge (E&W); Standard Security (Scotland)
Spanish term
Hipoteca abierta de cuantía indeterminada
FECHA: 30 DE MAYO DE 2002
OTORGADA ANTE LA NOTARÍA QUINTA DEL CÍRCULO DE PEREIRA
SUPERINTENDENCIA DE NOTARIADO Y REGISTRO
FORMATO DE CALIFICACIÓN
CLASE DE ACTO O CONTRATO
HIPOTECA ABIERTA DE CUANTIA INDETERMINADA
CÓDIGO 205
CUANTÍA $2.000.000.00 (pesos colombianos)
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Hello, dear colleagues. Hope you are all doing great. As you can see, this is from a Colombian public deed. Thanks a lot for your help!
4 | open-end mortgage (AmE; 'all monies' charge (E&W); Standard Security (Scotland) | Adrian MM. |
4 +3 | open-end mortgage for an indeterminate amount | patinba |
5 +1 | Revolving mortgage | Francois Boye |
Nov 4, 2023 13:14: Adrian MM. changed "Edited KOG entry" from "<a href="/profile/19809">Eduardo López's</a> old entry - "Hipoteca abierta de cuantía indeterminada"" to ""open-end mortgage (AmE; \'all monies\' charge (E&W); Standard Security (Scotland)""
Proposed translations
open-end mortgage (AmE; 'all monies' charge (E&W); Standard Security (Scotland)
hipoteca abierta: open-end mortgage, West, Mex- etc. SPA/ US Am. ENG > cut legally and rhythmically to Puerto Rico. 'A mortgage that allows the borrowing of additional sums without having to enter into a new contract'.
All monies In the context of loan financing, the expressions "all monies clause", "all monies security" and "all monies guarantee" usually refer to security or a guarantee which covers all amounts which the debtor owes to the creditor from time to time
Scots law: The Standard Security forms are “all monies” securing all obligations to the Bank present and future and not limited to the amount of the finance
Thanks a lot, Adrian! |
neutral |
AllegroTrans
: I associate all monies charges with corporate borrowing by legal entities from banks (overdrafts), not with mortgages; and a (Scottish) standard security does NOT equate to an open-end mortgage https://www.ilawsscotland.co.uk/your-standard-securit
18 hrs
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Disgraceful ignorance of conveyancing, so you ought to have kept out of this answer. All-charges is also a home-owner's risk scenario https://legalbeagles.info/forums/forum/legal-forums/housing-...
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Revolving mortgage
open-end mortgage for an indeterminate amount
Open-End Mortgage: Overview, Benefits, Examples
Investopedia
Security Agreement, Assignment of Rents and Fixture Filing
Rackcdn.com
http://c1205b3963f85910ef48-8cba088fab863ca0f22e036602078b71... › ...
Open-End Mortgage. This Security Instrument is given to secure the payment of ... indeterminate amount” under Minnesota Statutes. Section 287.05, Subd. 5, and ...
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Note added at 16 hrs (2023-10-30 14:40:02 GMT)
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An open-end mortgage differs from revolving credit because the funds are usually available only for a specified time. The terms of revolving credit specify that the funds stay open indefinitely, with the exception being if a borrower defaults.
Open-End Mortgage: Overview, Benefits, Examples
agree |
Andrew Bramhall
: Sounds plausible to me;
2 hrs
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Thank you!
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neutral |
Francois Boye
: They call it a revolving mortgage
3 hrs
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agree |
ANGELA DELANEY
: I am not sure that we would need for an indeterminate amount as this is implied in the term 'open-end mortgage'.
11 hrs
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Could be. Thank you.
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agree |
AllegroTrans
13 hrs
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Discussion