Building permit – A building permit is the permission granted by a competent authority to erect a structure on a plot of land. Before a building permit is issued, a preliminary building application must be requested from the building supervisory authority. However, anyone who builds without a building permit risks not only a sanction in […]
Compulsory mortgage – A compulsory mortgage is the registration of a mortgage in the land register in the course of a compulsory execution. A forced mortgage is also considered a security mortgage, but unlike a normal mortgage, it is not contractually agreed and is entered in the land register in the course of the foreclosure. […]
Ideal division – In the ideal division of a property, co-ownership of several owners is created, which is entered in the land register. Visit back to overview. In this case, the property is not actually divided into independent parts, but the owners regulate their rights and obligations in a notarised declaration of division. In this […]
Building supervisory authority (Berlin) – In general, the building supervisory authority monitors compliance with the public-law regulations for certain projects on building structures. Explore home page. These projects include, for example, the construction, modification, use, maintenance or demolition of buildings. Among other things, the building supervisory authority is responsible for the building permit procedure. In […]
Adoption of a resolution (WEG) – Adoption of a resolution is a decision that is voted on in the condominium owners’ meeting. More on Lukinski. The wording regulates certain matters which are passed in the meeting by the quorum of the condominium owners. Typical resolutions are, for example, those on the annual statement of accounts, […]
New housing is predominantly built in larger cities and in structurally strong regions. In the countryside and away from the large cities, the construction boom in terms of new-build apartments is much lower. Newly built flats can be offered for rent or for sale. They vary in size, amenities and location. New-build apartments are very […]
Quorum (WEG) – The competence of the condominium owners to pass resolutions in the owners’ meeting is defined by law. The quorum is a prerequisite for passing effective resolutions. The manager must check the quorum of the participants at each owners’ meeting in order to ensure the validity of a resolution. Further reading: Lukinski Magazine. […]
Second home tax – If you live in a city but your primary residence is somewhere else, it is a second home. If this is the case, taxes must be paid. Visit Lukinski.com. Since it is a municipal tax, it is levied by the municipality and taxes the holding of the secondary residence. The reason […]
Resolution (WEG) – The resolution of a condominium owners’ association (WEG) concerns matters that were jointly voted on and decided in the condominium owners’ meeting. Explore back to overview. However, resolutions can only be passed by condominium owners if they have a statutory resolution authority. Resolution (WEG) at a glance: Result of the condominium owners’ […]
Legitimate interest – Anyone who wishes to obtain individual data on specific persons or on third-party properties must assert a legitimate interest. Accordingly, anyone who can demonstrate a legitimate interest is permitted to inspect the land register. Who can have among other things a justified interest are for example registered owners, or those to their […]
LTV – When buying a property with a loan, the bank specifies a certain limit up to which it may grant loans. The lending value included in it protects the bank in the event that the borrower can no longer meet his payment obligations and the property must be sold or, if necessary, foreclosed. The […]
Encumbrance power of attorney – The encumbrance power of attorney authorizes the buyer to encumber the property with a lien in order to finance the purchase price. Explore real estate guide. This power of attorney is only required if the buyer of the property wishes to obtain outside financing and the lender requires collateral for […]
