Real estate | Lukinski

Newly built apartments – What to consider? Costs and procedure

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) of a condominium owner

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 as tax equalization

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) concerning certain matters of the condominium owners

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 in certain data in the land register

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 ratio

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 […]

Charge on land

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 […]

Community property (Lexikon) as a legal property regime

Community Property (Definition, Meaning) – If nothing else is agreed upon in a marriage contract, spouses or registered life partners live in a community property arrangement. In this case, the assets of the spouses are kept separate during the marriage, but they are combined and fairly divided upon divorce if a property adjustment is requested. […]

Land-use plan

The land-use plan of a plot of land determines whether your buildable land will become a villa, an apartment building, or just a garden house. It legally regulates the number of floors, roof type, floor area ratio (FAR), and type of use — and can change the market value of a plot by 30% to […]

Preparatory power of attorney of the buyer

Construction preparation power of attorney – The construction preparation power of attorney is the authorization that the seller transfers to the buyer to be able to start with preparatory work. The scope of the power of attorney should be described exactly and the risks for the buyer should be clearly delimited. As a rule, the […]

Preliminary building application as the first step of a building project

Preliminary building application – In order to implement a building project, the consent of the municipality or a building permit is required, which can only be obtained through the preliminary building application. Through the preliminary building application, the builder can check which distance areas he must observe or whether exceptions or exemptions can be granted […]

Maintenance measure (real estate) to preserve the building fabric

Maintenance measure (real estate) – Maintenance measures are measures which are necessary for the preservation of the existing building fabric. The measures include maintenance, inspection, repair and improvement. Our guide helps: property renovation. The objectives include preventing system failures, improving operational safety, reducing malfunctions, and planning ahead for costs. Typical maintenance measures are, for example, […]