Residential right – The residential right is the right of the owner of the residential right to personally use a building or a part of the building. However, the owner of the residential right is only entitled to live in the building, but not to carry out commercial activities. The residential right is a right to a property, which is why it requires a notarized agreement between the property owner and the purchaser and an entry in the land register.
Residential Rights at a Glance: The personal use of a building
- Entitlement of the holder of the right of residence to make personal use of a building or part of a building
- Entitled only to reside, and not to engage in commercial activities
- Required: notarised agreement between land owner and purchaser and an entry in the land register
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