Foreclosure Submission for Purchase Price – Every real estate purchase agreement contains a submission clause. This clause states that the seller of a property can immediately foreclose and seek payment of the purchase price from the buyer if the buyer fails to pay the purchase price on time. The purpose is so that the seller […]
Fiduciary account (notary) – The special thing about a fiduciary account is that the holder of the account is not the owner of the assets in it. What to expect: purchase expenses. The holder is usually a notary or lawyer who manages the owner’s assets. A trust account is regularly required in particular for the […]
Real Estate Bubble – Here you can get a brief overview of what a real estate bubble is, how it occurs and what the consequences are if it bursts. Real estate bubble – briefly & concisely explained: What is a real estate bubble? Many who hear the word real estate bubble first wonder what the […]
Repayment loan – A repayment loan is a generic term for loans in which a specific repayment line is agreed over a fixed term. All definitions: all terms. In the real estate sector, it is usually an annuity loan, whereby the resulting repayment installments are composed of an interest and a repayment portion. The advantage […]
Repayment – The purchase price of real estate is often financed by a loan, whereby the repayment leads to a loan being repaid. Visit real estate guide. Here, the borrower repays the loan monthly on an ongoing basis, whereby the monthly instalments remain the same but the total liabilities decrease due to the ongoing repayment […]
Will – The distribution of the assets of a deceased person can be recorded before death in a written statement, which is the will. Every person is capable of making a will from the age of 16 and does not need a notary in the case of a handwritten will, as the testator draws it […]
Default reserve (WEG) – The default reserve comes into effect in the event of the insolvency of a condominium owner if there is a risk that the owner will no longer be able to meet his financial obligations. In order not to endanger the entire community by the insolvency, this default reserve can be determined, […]
Consent requirement (sale WEG) – If it is agreed that a condominium owner may only sell his condominium if an administrator or another condominium owner agrees, this is a consent requirement. The reason for the consent requirement is that the condominium is interested in each owner being able to fulfil his obligations regarding the residential […]
Settlement of community of heirs – If a deceased person leaves several heirs and the division of the estate among the heirs is not consensual, the division is determined by law. See our property terms. Since the estate is a joint property, the co-heirs can only dispose of the inheritance jointly. If this joint disposition […]
Subdivision Plan – The subdivision plan is a stamped construction drawing that provides information about the building’s layout, location and size. Further reading: Lukinski Blog. These drawings of floor plans, sections and elevations are all necessary representations of the building to be subdivided. In addition to the division of the building by the floor plans, […]
Real estate prices – How does the price of a property actually come about? Is it made up of several components and if so, which ones? What influences the price of real estate? Whether for a house or an apartment, we have explained the factors influencing a property price for you. There are various factors […]
Conveyance notice (land register) – The conveyance notice refers to the agreement that the ownership of a property is to be transferred from the seller to the purchaser of the property and that this transfer of ownership is to be executed in the land register. Our guide: selling tips. Due to the conditional immediate reaction […]