This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
Caso Pv+Ph/Pv+Sh/Sv+Ph/Sv+Sh.
ensayo de llama de vela

Glossary entry

Spanish term or phrase:

Hipoteca abierta de cuantía indeterminada

English translation:

open-end mortgage (AmE); \'all monies\' charge (E&W); Standard Security (Scotland)

Added to glossary by Adrian MM.
Oct 29, 2023 22:11
6 mos ago
38 viewers *
Spanish term

Hipoteca abierta de cuantía indeterminada

Spanish to English Law/Patents Law: Contract(s)
ESCRITURA PÚBLICA NÚMERO 1530
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)

____________
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!
Proposed translations (English)
4 open-end mortgage (AmE; 'all monies' charge (E&W); Standard Security (Scotland)
4 +3 open-end mortgage for an indeterminate amount
5 +1 Revolving mortgage
Change log

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)""

Discussion

Luis M. Sosa Oct 30, 2023:
Revolving mortgage It seems that in Colombia they call revolving mortgages 'préstamos con respaldo hipotecario/préstamos con garantía hipotecaria', they're not necessarily 'hipotecas abiertas' in the strictly legal sense. Ref: https://www.medellinhipotecas.com/

Proposed translations

33 mins
Selected

open-end mortgage (AmE; 'all monies' charge (E&W); Standard Security (Scotland)

I thought we have had this interesting query before, but I can't find it on ProZ.

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'.
Example sentence:

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

Reference:

http://www.proz.com/kudoz/english-to-spanish/finance-general/800276-joint-several-demand-“all-monies”-debenture-mortgage.html

http://uk.practicallaw.thomsonreuters.com/6-500-5886?transitionType=Default&contextData=(sc.Default)&firstPage=true

Note from asker:
Thanks a lot, Adrian!
Peer comment(s):
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
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-...
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thanks a lot, everyone!"
+1
2 hrs

Revolving mortgage

Revolving home loans work like a big overdraft. Your loan becomes your everyday account, so money flows in and out of your loan balance as you get paid and as you spend and pay bills. Unlike term loans, there are no set repayments on set dates. You can make repayments whenever you like, for as much as you like.
Peer comment(s):
agree AllegroTrans
12 hrs
Thanks!
Something went wrong...
+3
26 mins

open-end mortgage for an indeterminate amount

What Is an Open-End Mortgage? An open-end mortgage is a type of mortgage that allows the borrower to increase the amount of the mortgage principal outstanding at a later time. Open-end mortgages permit the borrower to go back to the lender and borrow more money.

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 ...

--------------------------------------------------
Note added at 16 hrs (2023-10-30 14:40:02 GMT)
--------------------------------------------------

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
Peer comment(s):
agree Andrew Bramhall : Sounds plausible to me;
2 hrs
Thank you!
neutral Francois Boye : They call it a revolving mortgage
3 hrs
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
Could be. Thank you.
agree AllegroTrans
13 hrs
Something went wrong...
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search