Hypotékou

Hypotékou is the genitive form of the Greek noun hypotéka (υποθήκη), meaning a mortgage or lien on real property used to secure a loan. In civil-law systems the mortgage is a security interest that allows a lender to claim a property if the borrower fails to meet the loan obligations, while the owner generally retains possession of the property.

Creation and registration are central to the instrument. A mortgage is typically created by a written agreement between borrower and lender and is usually required to be registered in the national land registry or mortgage registry to be enforceable against third parties. The mortgage encumbers the property as collateral for the debt and remains in effect until released.

Effects and priority follow from the security nature. The lender’s claim on the mortgaged property ranks ahead of unsecured creditors, subject to the existence of any prior encumbrances. The mortgage ensures the lender has a tangible remedy in case of default, potentially enabling foreclosure or forced sale to recover the outstanding loan, costs, and interest.

Release and discharge occur when the debt is fully paid or when the lender formally releases the mortgage. The property is then freed from the security interest, allowing normal transfer or sale without encumbrance.

Etymology and usage. Hypotéka derives from Greek roots meaning “placing under” as a form of collateral. In contemporary Greek finance, the term is commonly used in phrases such as “υποθήκη σε ακίνητο” (mortgage on a property) and mirrors the global concept of mortgages as a security instrument for real estate lending.