gældsovertagelse

Gældsovertagelse, or debt assumption, is a legal process in Denmark where a new party takes over responsibility for an existing debt. This typically occurs when a property is sold, and the buyer agrees to assume the seller's mortgage. The original debtor is then released from their obligation, and the new debtor becomes solely liable for the repayment.

For a gældsovertagelse to be valid, several conditions must be met. The original creditor, usually a bank or mortgage institution, must consent to the transfer of debt. This consent is not automatic and depends on the new debtor's creditworthiness. The creditor will assess the new debtor's financial situation, including income, assets, and other debts, to ensure they can manage the repayment.

The process usually involves formal documentation, often referred to as a "gældsovertagelsesaftale" (debt assumption agreement). This agreement outlines the terms of the new debt, including the outstanding principal, interest rate, and repayment schedule. Both the original debtor and the new debtor must sign this agreement, along with the creditor.

A key benefit of gældsovertagelse is that it can sometimes allow the new debtor to benefit from the original debtor's existing loan terms, which might be more favorable than current market rates. However, it also means the new debtor inherits the full liability of the debt. The original debtor, upon successful gældsovertagelse, is no longer legally obligated to repay the debt.