Auction – There is on the one hand the forced auction of a property or on the other hand the partition auction. A compulsory auction takes place when the owner can no longer pay the debts relating to the property. A partition auction takes place when the ownership of a property is divided among several people and they cannot agree on what should happen to the property. The auction of a property is conducted by a judicial officer in the district court in whose land register district the property is registered. A property is always auctioned with all its accessories, i.e. all movable and non-movable items of a dwelling are also acquired. The dates for auctions are announced publicly.
Auction at a glance: The last resort
Our tip! Want to buy a cheap property at a foreclosure auction? Here you will find online portals for buyers, the district court list and tips: Buy property at foreclosure auction.
- A distinction is made between compulsory auctions and partition auctions of a property
- Forced sale takes place when the owner can no longer pay the debts relating to the property.
- Partition auction takes place when property of a real estate is divided among several persons and they cannot agree on what should happen with it.
- Auction of a property is carried out by a judicial officer in the district court in whose land register district the property is registered.
- Property is auctioned off with all movable and non-movable items
- Dates for auctions will be announced publicly
Back to the wiki: Real Estate