Key data
| Regulation | Resolution of March 3, 2026, DGRN — Appeal on unilateral mortgage cancellation (BOE-A-2026-12846) |
|---|---|
| Publication | June 13, 2026 |
| Entry into force | Not specified |
| Affected parties | Property owners with registered unilateral mortgages and assignee entities of mortgage credits |
| Category | Real Estate — Property Registry |
| Applicable provision | Article 141 of the Mortgage Law |
| Principle invoked | Successive registration principle |
| Entities involved in the case | Banco Sabadell (original creditor) and Axactor España S.L. (registered assignee) |
| Registrar | Property Registry of Mataró no. 3 |
Initiating a unilateral mortgage cancellation procedure by directing the requirement to the bank that created it can be a costly mistake if that bank has already assigned the credit to another entity. The General Directorate of Legal Security and Public Faith (DGRN) confirmed this in its Resolution of March 3, 2026, published on June 13, 2026 in the BOE (BOE-A-2026-12846): the requirement must go to the holder listed in the Registry at the time of presenting the cancellation title, without exception.
The specific case arose at the Property Registry of Mataró no. 3, where the registrar denied the cancellation of a unilateral mortgage because Banco Sabadell, the original creditor, had transferred its participation to Axactor España S.L., which already appeared registered as holder in the Registry. The requirement had been directed to Banco Sabadell, not to Axactor, which prompted the denial.
What does this regulation establish?
A unilateral mortgage is one created by the property owner without the creditor's initial acceptance. Article 141 of the Mortgage Law allows it to be cancelled if the creditor does not accept within the established period, but to do so the owner must formally require the creditor.
The key point established by this resolution is to whom that requirement must be directed. The DGRN applies the principle of successive registration: any act affecting a registered right must be directed to whoever appears as holder in the Registry at that moment, not to who was originally.
| Situation | Correct requirement | Result |
|---|---|---|
| The original creditor remains registered in the Registry | Direct it to the original creditor | Cancellation granted |
| The credit has been assigned and the assignee is registered | Direct it to the registered assignee (e.g. Axactor España S.L.) | Cancellation granted |
| The credit has been assigned but the requirement goes to the original creditor | Requirement misdirected | Cancellation denied |
The successive registration principle ensures that the current registered holder is not affected by acts in which they did not participate. If the mortgage credit has changed hands—something common in debt portfolios assigned to funds or entities like Axactor—the owner must update their information before acting.
Economic and operational impact
The impact is not a fine or a fee, but it does have a real and direct cost:
- Delay in registry cancellation: A misdirected requirement forces you to restart the procedure from scratch, with associated notarial, registry, and legal representation costs.
- Mortgage charge that remains registered: While the mortgage is not cancelled, the property remains encumbered in the Registry, which can block sales, refinancing, or new mortgages.
- Prior verification costs: Before initiating the procedure, it is necessary to obtain an updated simple note from the Registry to identify the current holder, which has a minimal cost but is essential.
- Risk of prescription or expiration of actions: Delays resulting from a failed procedure can have consequences on legal deadlines linked to the underlying real estate transaction.
In the current context, the massive assignment of mortgage credit portfolios to funds and specialized entities—as happened in the case of Banco Sabadell and Axactor España S.L.—makes this error more frequent than it appears. Many property owners are unaware that their creditor has changed.
Who does it affect?
- Property owners with registered unilateral mortgages who want to cancel them due to the creditor's lack of acceptance.
- Real estate developers who created unilateral mortgages in favor of financial entities and whose credit may have been assigned.
- Legal advisors and notaries who process unilateral mortgage cancellations and must verify the current registered ownership.
- Assignee entities of mortgage credits (investment funds, servicers, entities like Axactor España S.L.) that must ensure their registry registration is updated to correctly receive requirements.
- Originating financial entities (such as Banco Sabadell in this case) that have assigned mortgage participations and may receive requirements that no longer correspond to them.
Practical example
A developer created in 2018 a unilateral mortgage in favor of Banco Sabadell on an industrial warehouse. The bank never formally accepted the mortgage. In 2024, the developer decides to cancel it due to lack of acceptance, invoking Article 141 of the Mortgage Law, and directs the notarial requirement to Banco Sabadell.
What the developer did not know is that in 2022, Banco Sabadell assigned that mortgage participation to Axactor España S.L., which already appears registered as holder in the Property Registry of Mataró no. 3.
The registrar denies the cancellation: the requirement has not been directed to the current registered holder. The developer must repeat the procedure—with new notarial and registry costs—this time directing the requirement to Axactor España S.L. A simple note prior to initiating the procedure would have avoided the entire problem.
What should property owners do now?
- Request an updated simple note from the Property Registry before initiating any unilateral mortgage cancellation procedure. This document identifies the current registered holder of the right.
- Verify whether the original creditor has assigned the credit to another entity (fund, servicer, specialized entity). In today's market, assignments of mortgage portfolios are frequent.
- Direct the notarial requirement to the current registered holder at the time of presenting the cancellation title, not to the creditor with whom you originally signed.
- Review ongoing cancellation proceedings that have been denied for this reason and assess whether it is necessary to restart the procedure with the requirement correctly directed.
- Consult with a lawyer or notary specialized in mortgage law before acting, especially if there are credit assignments or mortgage participations involved.
Frequently asked questions
To whom should I direct the requirement to cancel a unilateral mortgage if the original bank assigned the credit?
You must direct it to the registered holder in effect at the time of presenting the cancellation title, that is, to the assignee who appears registered in the Property Registry. In the case resolved by the DGRN, the requirement should have gone to Axactor España S.L., not Banco Sabadell, because Axactor was already registered as holder when the cancellation was attempted.
What happens if I direct the requirement to the original creditor and not to the current registered holder?
The registrar will deny the cancellation, as happened in the case of the Property Registry of Mataró no. 3. You will have to restart the procedure from scratch, with the notarial, registry, and legal costs that entails, and direct the new requirement to the correct registered holder.
How do I know who the current registered holder of my mortgage is?
By requesting an updated informative simple note from the Property Registry where the property is registered. This document reflects the current status of charges and the identity of the current registered holder. It is the essential first step before initiating any cancellation procedure.
What is the successive registration principle and why is it relevant here?
Successive registration is a registry principle that requires any act affecting a registered right to be directed to whoever appears as holder in the Registry at that moment. The DGRN applies it in this resolution to confirm that the requirement under Article 141 of the Mortgage Law must go to the current registered holder, not to the original creditor who no longer appears in the Registry.
When was this DGRN resolution on unilateral mortgages published?
The Resolution of March 3, 2026 of the General Directorate of Legal Security and Public Faith was published in the BOE on June 13, 2026, with reference BOE-A-2026-12846. You can consult it in the official source linked at the end of this article.
Official source
Consult complete regulation in official source
Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2026-12846