§ 7-2. Deletion of encumbrances (panteheftelser) after a completed debt settlement (gjeldsordning)
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The text of the law (unofficial translation)
§ 7-2. Deletion of encumbrances upon a completed debt settlement
What does this mean?
When the debtor (skyldner) has completed the settlement, certain encumbrances (security resting on an asset) lapse. The exception is the additional claims that the Mortgages and Pledges Act has rules on, including interest from the period before the negotiation opened.
If the encumbrance is listed in a public register of rights, the enforcement officer requests its deletion. If it is a possessory pledge, the enforcement officer notifies the person holding the pledged item. This section is the end point for the registration that § 7-1 describes. Without this rule, old encumbrances would remain in the registers even though the settlement has been completed.