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Deed Of Assignment Mortgage Template for Switzerland

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Key Requirements PROMPT example:

Deed Of Assignment Mortgage

"I need a Swiss Deed of Assignment Mortgage to transfer a CHF 2.5M residential mortgage from Credit Suisse to UBS, with completion scheduled for March 15, 2025; the property is located in Zurich canton and we need to include standard representations and warranties."

Document background
The Deed of Assignment Mortgage is a crucial document in Swiss property financing transactions, used when transferring mortgage rights between parties. It's commonly employed in scenarios such as loan portfolio sales, refinancing arrangements, or bank restructuring situations. The document must comply with Swiss federal law (particularly the Swiss Civil Code and Code of Obligations) and cantonal requirements, necessitating precise drafting and formal execution. This deed includes comprehensive details about the property, existing mortgage, parties involved, and terms of assignment. Given Switzerland's strict property and security rights regulations, the document requires notarization and subsequent registration in the Land Register to be legally effective. The Deed of Assignment Mortgage serves as official evidence of the transfer and must contain all elements required by Swiss law to ensure the assignment's validity and enforceability.
Suggested Sections

1. Parties: Identification of the Assignor (current mortgage holder) and Assignee (new mortgage holder), including full legal names, addresses, and registration details if entities

2. Background: Context of the existing mortgage, including its creation date, original parties, and current status

3. Definitions: Definitions of key terms used in the deed, including Property, Mortgage, Assignment Date, etc.

4. Property Details: Precise legal description of the mortgaged property, including Land Register details and property identifier numbers

5. Existing Mortgage Details: Details of the mortgage being assigned, including original amount, current balance, registration details, and ranking

6. Assignment: Core provisions effecting the transfer of the mortgage from Assignor to Assignee

7. Consideration: Details of the payment or other consideration for the assignment

8. Representations and Warranties: Assignor's confirmations regarding ownership, authority to assign, and status of the mortgage

9. Completion Requirements: Steps required to complete the assignment, including registration requirements

10. Notices: Process for serving notices between parties

11. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction

12. Execution: Formal execution blocks meeting Swiss notarial requirements

Optional Sections

1. Conditions Precedent: Include when the assignment is subject to specific conditions being met before completion

2. Borrower Consent: Include when the original mortgage terms require borrower consent for assignment

3. Security Agent Provisions: Include when the mortgage is part of a syndicated facility with a security agent structure

4. Tax Provisions: Include specific tax-related provisions when the assignment has particular tax implications

5. Further Assurance: Include when additional actions may be required post-completion

6. Costs and Expenses: Include specific provisions about transaction costs when these are significant or disputed

7. Partial Assignment Provisions: Include when only part of the mortgage is being assigned

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including plans and Land Register excerpts

2. Existing Mortgage Documentation: Copies or details of the original mortgage documentation

3. Form of Notice to Borrower: Template for notifying the borrower of the assignment

4. Land Register Application Forms: Required forms for registering the assignment

5. Payment Details: Bank account and payment instruction details

6. Powers of Attorney: If applicable, powers of attorney for executing the assignment

7. Supporting Resolutions: Corporate resolutions or authorizations if parties are entities

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Banking

Real Estate

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Relevant Teams

Legal

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Risk Management

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Credit Administration

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Documentation

Relevant Roles

Legal Counsel

Mortgage Advisor

Real Estate Manager

Property Finance Manager

Compliance Officer

Risk Manager

Portfolio Manager

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Banking Director

Real Estate Attorney

Notary Public

Land Registry Officer

Credit Risk Officer

Investment Manager

Property Finance Director

Industries








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