What are the declarations that the lender will require from the borrower?

The declarations of the borrower are at first made on the existing charges which encumber the immovable property. The borrower will have to make known already existing hypothecs as well as the servitudes which affect the immovable property. Practically, in the very great majority of the cases, this information will be known following the title examination made by the notary.

By requiring these declarations, the financial institution wants to be informed about the factors susceptive to decrease the value of its security or compromise its rights as a creditor in case of realization of the security.

In the commercial cases, the borrower will also be well advised to declare the commercial leases published against the immovable property.