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Banking & Finance Update: The Introduction of a Refinance Register provides additional Comfort to German True Sale Securitizations

9 January 2007
Mayer Brown Newsletter
9 January 2007 - In the existing legal environment, true sale securitizations subject to German law work well if the securitization involves assets and collateral which are transferable by mere contractual agreement between the parties. For the further promotion of true sale securitizations, German law was amended for simplifying true sale securitizations in particular for those asset classes and collateral which presently require the costly and time consuming egistration of collateral in the land register (e.g. mortgages and land charges).
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