However, for enforcement purposes, it is advisable to notarize the assignment so that the assignee can prove, for enforcement purposes, that it benefits from security (failing which the assignee may not have access to direct enforcement proceedings). Where the security right is a mortgage, hypothec or seizure of property, it is necessary, for the same enforcement purposes, to register the transfer in the cadastre or movable assets register (as required). Finally, real estate law provides that the transfer of an obligation secured by a real estate hypothec must be notified to the debtor (unless otherwise agreed). March on mortgage loans (“Law 5/2019”) implementing Directive 2014/17/EU on residential mortgage agreements granted to consumers in respect of residential immovable property, which is professionally granted to individuals (or is guaranteed by individuals) which is credit agreements secured by a mortgage on residential immovable property or (ii) credit agreements the purpose of which is to acquire or retain ownership rights in land or in an existing or planned building, if the borrower or surety is a consumer. This Regulation provides for a derogation of indefinite duration from any provision in loans and credit agreements which limits the effects of a reduction in the variable rate (i.e. `cláusulas suelo`). In addition, Law 5/2019 expressly provides that the interest rate (reference rate plus margin) cannot be negative, which puts an end to the debate on the lender`s obligation to remunerate the borrower in the negative interest rate scenario. In accordance with Article 3 of the Rome I Regulation, the law adopted (i.e. Spanish law) would in principle apply both to the contract of sale and to the relationship with the debtor. Provided that the transfer contract complies with the requirements of Spanish law, as set out below in questions 4.1 and 4.4, a Spanish court would recognise this sale as effective vis-à-vis the seller and the debtor. Ordinary and special mission. The assignment contract may provide that the buyer assigns the residual profit (e.g. B costs due by the debtor) to the seller with immediate effect.
7.4 Limited recourse. . . .