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Loan Takeover Request Letter

Loan Takeover Request Letter Template for Germany

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Key Requirements PROMPT example:

Loan Takeover Request Letter

"I need a Loan Takeover Request Letter for taking over my father's mortgage loan (€450,000 outstanding) on our family home in Munich, with the transfer to be completed by March 2025, including details about my current employment as a senior software engineer with annual income of €85,000."

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Document background
The Loan Takeover Request Letter is a crucial document used when one party wishes to assume the loan obligations of another under German law. This document is commonly used in scenarios such as property sales where the buyer wishes to take over the existing mortgage, business acquisitions involving loan transfers, or family succession planning. The letter must comply with German banking regulations and the Civil Code (BGB), particularly regarding the transfer of obligations and banking requirements. It should contain comprehensive information about both the existing loan and the proposed new borrower, including financial capacity and creditworthiness details. The document serves as the formal initiation of the loan transfer process and typically requires supporting documentation such as financial statements, credit history, and identification documents.
Suggested Sections

1. Sender Details: Full name, address, and contact information of the requesting party

2. Recipient Details: Name and address of the lending institution, including specific department if known

3. Date: Current date in German format (DD.MM.YYYY)

4. Reference Line: Loan account number, existing loan reference numbers, and any other relevant identifiers

5. Subject Line: Clear indication that this is a loan takeover request (Ãœ²ú±ð°ù²Ô²¹³ó³¾±ð²¹²Ô³Ù°ù²¹²µ für Darlehen)

6. Current Loan Details: Existing loan information including current borrower, loan amount, terms, and outstanding balance

7. Proposed Takeover Details: Information about the proposed new borrower and requested terms of takeover

8. Request Statement: Formal request for the loan takeover and proposed effective date

9. Closing: Professional closing statement, signature block, and contact information for follow-up

Optional Sections

1. Reason for Takeover: Include when there's a specific reason that might strengthen the request (e.g., family succession, business restructuring)

2. Urgency Statement: Include when there's a legitimate time-sensitive aspect to the request

3. Existing Security Details: Include when the loan has existing collateral or securities that need to be addressed

4. Additional Guarantor Information: Include when new guarantors are being proposed as part of the takeover

Suggested Schedules

1. Financial Documentation: Proof of income, bank statements, and financial capacity of proposed new borrower

2. Identification Documents: Copies of identification documents for all relevant parties

3. Credit History: SCHUFA report or other credit history documentation for the proposed new borrower

4. Property Documentation: If the loan is secured against property, relevant property documentation and current valuation

5. Corporate Documents: If the new borrower is a company, include company registration documents and financial statements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















Clauses















Relevant Industries

Banking & Financial Services

Real Estate

Corporate Finance

Private Banking

Retail Banking

Commercial Property

Professional Services

Legal Services

Investment Management

Asset Management

Relevant Teams

Legal

Credit Risk

Loan Operations

Compliance

Corporate Banking

Retail Banking

Mortgage Services

Document Management

Financial Advisory

Risk Assessment

Customer Relations

Banking Operations

Relevant Roles

Loan Officer

Banking Relationship Manager

Credit Analyst

Legal Counsel

Corporate Banker

Mortgage Specialist

Financial Advisor

Risk Manager

Compliance Officer

Banking Operations Manager

Property Finance Manager

Debt Restructuring Specialist

Private Banking Manager

Corporate Finance Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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