Mortgage Agreement Template for Belgium

The Mortgage Agreement is a crucial legal instrument in Belgian real estate financing, required whenever a lender seeks to secure a loan against real property. This document must comply with strict Belgian legal requirements, including mandatory execution before a notary public and registration in the mortgage registry. The agreement serves multiple purposes: it establishes the lender's security interest, defines the terms of the mortgage loan, and protects both parties' rights and obligations. Used in both residential and commercial contexts, the Mortgage Agreement includes detailed property descriptions, loan terms, borrower obligations, and enforcement provisions. It must conform to Belgian Civil Code requirements, mortgage regulations, and consumer protection laws, particularly when used for residential properties. The document's importance extends beyond the immediate parties, as it affects property title and serves as a crucial reference for future property transactions.

1. Parties: Identification of the Lender, Borrower, and any other relevant parties including full legal names, addresses, and registration details

2. Background: Context of the mortgage agreement, including the purpose of the loan and brief description of the property

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Complete description of the mortgaged property, including cadastral references and land registry details

5. Loan Terms: Principal amount, interest rate, term of the loan, and repayment schedule

6. Mortgage Creation: Legal provisions establishing the mortgage, including ranking and registration requirements

7. Borrower's Representations and Warranties: Declarations regarding property ownership, absence of encumbrances, and capacity to enter into the agreement

8. Borrower's Obligations: Ongoing obligations including property maintenance, insurance, and payment obligations

9. Events of Default: Circumstances constituting default and consequences thereof

10. Enforcement Rights: Lender's rights and remedies in case of default

11. Insurance Requirements: Mandatory insurance coverage for the property

12. Costs and Taxes: Allocation of notarial fees, registration costs, and taxes

13. Notices: Communication procedures between parties

14. Governing Law and Jurisdiction: Confirmation of Belgian law application and competent courts