1. Term
The ranking among several rights with which a property is encumbered (section 879 of the Civil Code) may be changed subsequently under section 880 (1) of the Civil Code. A change of rank is also permissible between a priority notice and a mortgage (see here: land charge, mortgage).
2. Origin and form
According to § 880 (2) sentence 1 BGB, the substantive change of rank requires the agreement of the withdrawing and the advancing beneficiary and the entry of the change in the land register. The owner's consent is also required if a security right over real property (mortgage, land charge or annuity debt) is to be rescinded (section 880 (2) sentence 2 BGB). If the rescinding right is encumbered with the right of a third party (e.g. by lien or by usufruct), the third party's consent is also required under section 880 (3) BGB with section 876 BGB. The entry of the change of rank in the land register is made upon application pursuant to section 13, paragraph 1 of the Land Register Code (GBO) with the consent of the withdrawing beneficiary pursuant to section 19 GBO and the consent of the owner pursuant to section 19 GBO in the form of notarial certification pursuant to section 29 GBO.