- LR information on mortgages
1.1. With respect to the mortgage liability, the Austrian mortgage system prepares in general two options:
a) Extracts include the amount of loan strictly, nothing else about interests or other liabilities due to the loan. (E.g. In the event that the loan is 100,000 € and the information shall contain that number. Although interest or other debts are due, the information does not include them).
b) Information about sums of money guaranteed by mortgage is not provided by the extracts. (E.g. The loan is 100,000 € but LR extracts will not inform any figures, or at most will inform the fact that the property is encumbered by a mortgage).
c) Extracts may include the amount of loan only or they may include a reference to present and future advances with no loan amount.
1.2. Regular LR information in this system also comprises ordinarily:
1. Name of the mortgagee or creditor.
2. Name of the mortgagor or debtor (land owner).
However, there should not be expected any information about contract or basis of obligation guaranteed by a mortgage, deadline of the loan or credit or other contract which is basis of the mortgage, the deadline of the mortgage, or deed whereby mortgage was constituted or awarded.
1.3. With respect to the mortgage rank (preference of the mortgage in comparison with other mortgages or encumbrances), this LR system has the following criteria:
1. Mortgage rank depends on date of registration of the mortgage, so whoever may ascertain mortgage rank taking into consideration the information on the date of registration of the mortgage.
2. Information indicates specifically what the mortgage rank is, as a general rule.
3. Information may indicate mortgage rank upon request of the interested parties.
4. Information may indicate mortgage rank upon request of the courts.
5. When a new mortgage which ranks in priority to an existing mortgage entry is lodged at a later date, a note of priority is entered.
- Information on judicial restrictions included in Section “C”
This information includes LR entries or notices related to restrictions decreed by judicial orders which mean either a claim on the property, or a challenge on the registered title, or an attachment of the property to debts as a result of judicial procedures, etc.
In this system:
a) Information on judicial restrictions or charges forms part of the regular land register extracts
b) Means of formal publicity ordinarily contains information about the judicial order that leads to the registration of notices or caveats; about if notices or caveats are temporary or indefinite entries, or warn about this issue.
- Information about other restrictions
LR information does not include orders of attachment or seizure from administrative authorities.
LR information does not include tax liabilities (fiscal burdens).