Joint ventures and real estate sales? In the case of a joint venture, several persons are jointly entitled to rights. That means, they all have co-ownership after jointly investing in real estate. Typical examples of joint ventures are the classic single-family home or the shared condominium. This means that each person has a notional share of individual objects belonging to the property.
Joint Ventures in Real Estate: Owning and Selling, Co-Ownership
Several owners and one wants to sell – what now? For various reasons, people buy real estate together. When selling real estate from collaboration or inheritance and estate, before private sale or through a real estate agency, many questions arise. From simple topics to the selling price up to more complex tax questions, like:
- What is a joint venture?
- What is fractional ownership?
- Is it possible to sell co-ownership?
- What is the co-ownership share?
- Who is the owner of the house?
- What does ideal co-ownership share mean?
The possession of several persons on a thing defines itself briefly in such a way:
- Classic examples: Single-family house or shared condominium
Joint Venture in BGB § 741
§ 741 Community by fractions – If a right is jointly entitled to several persons, the provisions of §§ 742 to 758 shall apply unless the law provides otherwise (community by fractions).
The most important keywords in the joint venture are for you:
- Land Register
- Right of First Refusal
- Voting Right
- Declaration of Division
- Administration Agreement
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