What is the advantage of partial sale?

You think about the partial sale of your property? In our guide we have already reported a lot about the partial sale of real estate and of course answered the question, is a partial sale of real estate useful? Selling to your own children, angel children – how does it work?

The great advantage of partial sale is the quick transfer of the purchase price. Finally, you save a lot of steps in the real estate sale. For example, a large part of the communication with potential buyers, the subsequent credit checks so that you find a serious buyer.

Partial sale to private possible?

In principle, the partial sale of real estate to private is possible. Anyone can acquire shares in your property and thus become a part owner. Basically also a good idea, after all, the sales price is transferred quickly. You surround the typical buyer search when selling real estate, if you have a direct contact for the partial sale.

Private sell via portal?

Not everyone has family, usually children, who buy off part of the property. What are the alternatives?

Most private buyers looking for offers via real estate portals will not accept a partial sale, but want to buy the entire property. If you want to sell a property in part, you should look for people in the immediate vicinity who might be interested in participating. In this case, you should contact one of the partial sale providers.

Partial sale apartment, house, land – all possible.

Example: share of 20% sold to children:

Right of residence and right of use: costs?

After the partial sale, you only need to agree on the use of the property.

What are the costs of the partial sale?

If you want to retain the sole right to live and use the property, the partial buyer will usually demand a usage fee from you, the so-called “usage fee”. Of course, in the case of a private partial sale, for example a partial sale to your children, you can agree that no usage fee has to be paid.

The usage fee is freely negotiable.

The typical user fee is approximately 3% p.a.

Providers usually charge 3-5% p.a.

Also in the guide on the subject of partial sale providers in comparison, we have already calculated the various user fees of the larger providers (financial companies). If you sell your property in part to a company, like such a financial company, then the usage fee is usually between 3% and 5% (of the sold share) per year.

Means simply, if you sell 100,000 euros of your property in part, you pay an annual user fee of 3,000 to 5000 euros.

Tip. Secure yourself, the usufructuary right

In all cases, however, you should protect yourself, especially with regard to your lifelong right of residence and right of use. The technical term for this is the so-called “usufruct”. The usufructuary right stipulates that you have a complete right to live in and use the property until the day of your death. Accordingly, you are independent of any decisions made by your future co-owners. Even if they are your children or grandchildren.

Purchase contract at the notary:

Taxes on partial sale to private

The name says it all, this tax is intended to limit speculation in the real estate market.

Speculation tax explained

With the speculation tax, the legislator says: If you buy a property, you may only sell it tax-free after X years – even in the case of a partial sale. X = years differs depending on whether you bought the property as an investment (rent it out) or live in it yourself (owner-occupied).

Speculation period:

• Third party use – 10 years
• Self-interest – 3 years

Amount of speculation tax

The amount of the speculation tax always depends on the own tax rate. Thus, the speculation tax is quickly over 25% and for high earners also quickly 40%.

Read more here about the:

• Speculation tax

Partial sale of real estate. The guide

You want to learn more about the partial sale of real estate? Then take a look here at my big guide, in which I really highlight all aspects, from the advantages, to the disadvantages, to possible alternatives, such as the mortgage loan or even the real estate pension. Of course, also everything on the subject of taxes in the partial sale. All experiences:

• Partial sale property

Der Beitrag Partial sale real estate private: house, apartment and land erschien zuerst auf ℄ Real Estates.

The testator is free to decide how much he wants to bequeath to whom

The testator is completely free to decide what should happen to his assets after his death. However, in order for a will to be truly valid, it is important that the testator is familiar with the specifics of drafting a will. Small mistakes in the wording can already lead to parts of the will not being interpreted correctly or not being valid in the first place. For this reason, it is of absolute necessity that the will is legally unambiguous.

Facts about the compulsory part

Close relatives cannot be completely excluded from the testator’s inheritance. Even in the event of disinheritance, which was agreed in the will, the relative can sue for the statutory compulsory portion. Incidentally, disinheritance can be effected without giving reasons.

Therefore, it does not make sense for the testator to disinherit a person who is entitled to the compulsory portion. This only leads to disputes. Inherited is nevertheless.

The compulsory portion is half of the statutory share of the inheritance. The compulsory portion is not automatically awarded to the heir by the probate court. The compulsory portion is also not noted in the certificate of inheritance. This means that the compulsory portion must first be claimed by the beneficiary of the compulsory portion from the other heirs.

However, there are special circumstances in which the testator is entitled to disinherit the child in such a way that the child cannot inherit the compulsory portion. This is the case if the child has been sentenced to a prison term of at least one year without probation for a criminal offence.

If a child is also to be deprived of the compulsory portion, the testator must record the motives in the will. Another legally valid reason is when the beneficiary of the compulsory portion seeks the life of the testator or another close person. If the beneficiary of the compulsory portion is guilty of a crime such as theft or bodily harm against the testator, he or she may also be deprived of the right to the compulsory portion.

Entitled to a compulsory share?

But which persons count as next of kin and are therefore entitled to a compulsory portion? This includes children. It does not matter whether they are biological or adopted children. If the testator was married at the time of death, spouses also count as close relatives. The same applies to a registered civil partnership. If the deceased has no children, the parents count as close relatives. Siblings of the deceased, on the other hand, are not entitled to a compulsory share.

The heir’s compulsory portion may be increased if the testator made gifts to other relatives up to ten years before his or her death. This is a claim to a supplement to the compulsory portion. This is the case, for example, if the testator gave away a property five years before his death. The beneficiary of the compulsory portion can demand that the compulsory portion is now calculated as it would have been if the gift had not been made. His or her compulsory portion increases as a result.

It should be noted that the beneficiary of the compulsory portion is not the owner of the estate. He therefore has no say whatsoever in what is to be done with the estate.

The legal succession must also be observed in the will if it is not to lose its validity. If the succession was not observed by the testator, the person concerned can enforce his or her claims in court.

If the claim to the compulsory portion is not asserted within 3 years after the death of the testator, the claim loses its validity. In addition, the claim to the compulsory portion only becomes valid when the testator has died. The compulsory portion cannot be claimed during the lifetime of the testator.

Inheritance and bequests: Compulsory portion

Calculate compulsory part – instructions

Legal succession in the case of inheritance

Legal succession always applies if the testator has not made a will. If there are no relatives, the inheritance passes to the state. However, this is hardly ever the case in Germany.

In the law of succession, kinship is divided into different degrees of order.

If heirs of order I exist, heirs of order II are completely excluded.

The children of the deceased as well as the grandchildren belong to the degree of order I. The children inherit in equal shares. If one of the children is already deceased, his or her children inherit.

Second cousin

If a deceased dies leaving neither children nor grandchildren, the second-degree relatives inherit. These include the parents of the deceased and the siblings. If a sibling has already died, the inheritance passes to their children, the nieces and nephews. If there are no second-degree relatives, the third-degree relatives are the grandparents and their children. These are then the aunts and uncles and the cousins.

Spouse

If no marriage contract has been agreed and the principle of community of accrued gains applies, the spouse of the deceased receives half of the inheritance alongside the children. In addition to the parents and siblings, the spouse even receives three quarters of the inheritance.

This can become dangerous if, for example, a property is inherited. In this case, the spouse has no sole claim to the property. In order to avoid this problem, many spouses opt for the Berlin will.

Berlin will

In a Berlin will, the longer-living spouse inherits everything. The children are excluded as heirs. Only after the death of the second spouse does the inheritance pass to the children. In this way, the property passes to the spouse without an inheritance dispute. However, even in this case, children can override the testator’s last will and claim the compulsory portion.

To prevent this from happening, the will can be amended to include a penalty clause in the event that the compulsory portion is claimed. However, this usually does not have the desired effect of the testator. Children can nevertheless claim their compulsory portion after the death of one parent. However, this becomes economically less attractive, as the inheritance is higher after the death of the second parent.

Parents are not obliged to treat their children equally in their wills

Parents are not obliged to treat their children equally in the will, even if this could avoid disputes after death. However, it is not possible to bequeath certain items of the estate only to certain children. For example, that the first child should inherit only the real estate, while the second child should become heir to the securities. Instead, it is only possible to determine with which quota the individual child receives how much of the total inheritance.

Will and custody

For the testator’s will to be valid, it must be handwritten and, of course, signed. It is absolutely fatal to type the will on the computer for the sake of better legibility. Even if it is signed, it is not valid.

Most testators choose to keep their wills at home. However, this carries the risk that it will be lost, cannot be found after death or that one of the heirs will make it disappear if it falls into their hands and disadvantages them.

It is therefore more advisable to place the will in the care of the probate court. This ensures that the will will be used in any case after the death of the testator. Anyone who decides against this form of safekeeping would do well to inform a trustworthy person about the existence and location of the will.

Der Beitrag Inherit properly: What to consider when inheriting and bequeathing erschien zuerst auf ℄ Real Estates.

Legal succession: This is how you inherit according to the law

Legal succession regulates both the order of heirs and the individual amounts that are inherited. First the closest relatives, such as children and grandchildren, inherit and then the more distant relatives, such as nephews and nieces. Closer relatives generally exclude the more distant relatives from inheritance. The proportion to which the individual heirs inherit is documented in the certificate of inheritance.

The legal succession is based on the Parantel – or order system. It divides the relatives into different orders. Accordingly, children and grandchildren of the deceased belong to the first order. Parents, siblings, nieces and nephews of the testator are assigned to the second order. The third order includes grandparents, uncles and aunts as well as cousins of the deceased. Spouses and registered partners are not considered relatives, but have the right of inheritance as spouses. This gives them a special status and limits the right of relatives to inherit. Relatives of the preceding order always exclude relatives of a subsequent order from the succession.

Read more on the subject of partition auctions in communities of heirs!

Separate community of heirs: settle debts, distribute inheritance

Ideally, the heirs of a community of heirs would pay any debts swiftly from the estate and then dissolve the community of heirs by distributing the surplus according to shares. However, this is often not the reality. Disputes within the community of heirs often ensure that they remain unresolved for years after the inheritance. Each member of such a community of heirs has the right to demand dissolution at any time, even without good cause.

Step by step: Dissolving a community of heirs

In order for a community of heirs to be dissolved without disputes, it is advisable to follow certain steps. From the correct valuation of the estate to inheritance taxes, there are important fromalien to consider.

Determine estate

Until the estate has been determined, a community of heirs cannot be divided. The heirs receive most of the information from the bank where the deceased had the accounts or deposits. In order to gain access to these, a certificate of inheritance or a will with a court-ordered opening protocol is required. However, debts are also part of the estate. In order to determine the estate completely, the debts and the assets should be compared and reconciled.

Pay off an estate debt

The debts of the estate can be paid by the heirs of the community of heirs from the estate. It is not uncommon for items belonging to the estate to have to be sold for this purpose, such as real estate or land.

Take into account gifts and donations

If an heir has received gifts or donations from the deceased during his or her lifetime, these may be subject to equalisation. The gifts that are subject to equalisation increase the estate arithmetically and are deducted from the inheritance quota of the donee. Each heir can request information from the others about such gifts so that they are correctly taken into account.

Sell indivisible items

If a true division is not possible for certain items, such as a property in the community of heirs, the heirs may have to sell this item or have it foreclosed. In order to do this, a realistic sales price must first be determined. If no agreement can be reached here, a partition auction can be initiated by one of the heirs.

Distribute divisible objects

The inheritance is to be divided in the first place in nature by the heirs. Each heir can therefore take items for himself from the estate in agreement with the other heirs. Money and securities can be divided by the community of heirs according to their respective shares.

Consider care services

If a child has cared for the deceased parent without consideration during his or her lifetime, compensation may be claimed for this. This must be appropriate to the duration, scope and value of the estate.

Notary helps

If an agreement cannot be reached, a notary can be called in by the community of heirs. This mediates between the heirs in order to reach an agreement as quickly as possible. However, it should be borne in mind that such assistance is associated with some costs.

Take account of the tax office

Inheritance tax is always payable on an inheritance. However, some things from the estate can be deducted from the tax, such as the costs of the funeral or fees for the opening of the will.

Learn more about communities of heirs!

Errors in community of heirs – Video

Questions on the topic: Deal with inheritance

If the deceased did not leave a will, there are usually many open questions regarding the distribution of the inheritance. The legal succession is supposed to regulate this case, however, it often comes to disputes between the heirs. So that no questions remain unanswered for you and you know all the facts on the subject of inheritance, the experts of Lukinski now answer the most important questions.

How can I dissolve a community of heirs?

A community of heirs can only be dissolved if the inheritance can be distributed with the unanimous consent of all heirs. Depending on the case, partial auctions or notaries may be necessary to help with this.

Can you transfer an inheritance?

Upon the occurrence of the succession, each heir may freely dispose of his or her share. A transfer of the inheritance to a third person is therefore quite possible.

Can you also sell your share in a community of heirs?

Your share of real estate or land in an estate cannot be sold until either you are the sole owner of that property by a unanimous vote of the community of heirs, or the community of heirs has been dissolved and the shares have been paid out.

What do I need to apply for a certificate of inheritance?

To apply for a certificate of inheritance, you need an identity card or passport, a death certificate from the deceased, a family register, the names and adresses of the co-heirs and other relatives, if applicable the will or the contract of inheritance or information about their custodians.

What is an inheritance settlement agreement?

An inheritance settlement agreement regulates the division of the estate according to shares within a community of heirs.

What happens in a partition auction?

In a partition auction, an item belonging to the estate, such as real estate or land, is auctioned off and the proceeds are divided among the heirs according to shares.

When should the inheritance be disclaimed?

The inheritance should be disclaimed if it is over-indebted and the assets cannot cover the debts of the estate, or if dilapidated real estate is part of the estate, the renovation of which would be too expensive.

Der Beitrag Legal succession: law & community of heirs in case of death + procedure / checklist erschien zuerst auf ℄ Real Estates.

Poggen Pohl – unique, excellent design kitchens

Poggen Pohl convinces with unique and excellent kitchens. In 2019, they won the German Design Award in the Kitchen category. The design reflects urbanity and mobility while being ultra-modern and unique. The design is a true inspiration and for every design lover a must in the property.

Hochstr. 49, 60313 Frankfurt

https://www.instagram.com/p/BwEpBwZFp39/

Küchenhaus Süd – the best manufacturers with high quality

In its showroom, Küchenhaus Süd offers kitchens from a wide range of manufacturers, such as Leicht or Siematic, and also plans many different models itself. Particularly high demands are made on the quality, because this must always be right. In addition to unique kitchens, cooking courses are also offered here, which guarantee a special evening.

Mörfelder Landstraße 77, 60598 Frankfurt am Main, Germany

https://www.instagram.com/p/BwSBcYCAT7c/

Kurttas kitchen studio – professional craftsmanship and technical innovation

Kurttas kitchen studio combines craftsmanship with the most modern design and the highest quality appliance technology. They offer not only special kitchens, but also technical innovation. The sound kitchen offered by Kurttas Kitchen Studio is controllable via Bluetooth and allows a glimpse into the future of kitchen innovation.

Gartenstraße 6, 63225 Langen

https://www.instagram.com/p/BwJ3y8YFpr2/

Bulthaup – minimalist and elegant

At Bulthaup, the individual wishes and living situations of customers are taken into account. The minimalist design of the kitchens combined with many years of experience and the best quality leads to the best possible result for the customer. The showroom in Frankfurt am Main represents the special design and the great flair.

Berliner Straße 29, 60311 Frankfurt/Main, Germany

Kitchen studio Brendel – personal consultation leads to the best result

At the Brendel kitchen studio you will not only find renowned brands, but also great designs. From Siemens and Miele to Blanco and Liebherr. The planning and personal consultation is for each customer in the foreground, so that all wishes are completely fulfilled. The Brendel kitchen studio in Frankfurt am Main inspires customers to create great designs and new ideas for their own homes.

Rödelheimer Landstraße 106, 60487 Frankfurt am Main, Germany

Heyne & Lehmhaus kitchen rooms – different styles, the right one for every customer

The Heyne & Lehmhaus kitchen rooms plan the perfect kitchen with a lot of care and love. Kitchen manufacturers such as Acheo, Häcker, Lancanche and Rational are represented here. The experts cater to the individual wishes of each customer and thus create kitchens in a wide variety of designs and styles. There really is something for every taste here.

Würzburger Str. 4, 60385 Frankfurt am Main

Lauterbach Schaap Küchen – Kitchen studio with cooking evenings

Lauterbach Schaap has been designing kitchen dreams for 25 years. They combine special design, kitchen architecture and a stylish way of life, which is reflected in the kitchens. Their kitchen studio also hosts regular cooking evenings to test the kitchens in action and inspire customers for their own property.

Große Friedberger Str. 40- 42, 60313 Frankfurt am Main

Kitchen plan – special accents through patterns and colours

Kitchen plan in Frankfurt am Main offers special us extraordinary design. Colorful tiles, patterns as accents and the most diverse styles can be found here and guarantee the perfect kitchen for all requirements. Also accessories for the kitchen, such as dishes, vases and decoration, which complete a kitchen are offered here to accompany the vision of the kitchen from start to finish.

Horst-Schulmann-Strasse 3, 60314 Frankfurt am Main, Germany

Küchenhaus Krömmelbein – highest quality for customer satisfaction and perfection

Küchenhaus Krömmelbein offers a complete kitchen planning service. From the planning to the visualization and the craftsmanship services, everything is offered here as a complete package. In addition, only the best brands can be found for both the kitchen and the kitchen appliances. The experts at Küchenhaus Krömmelbein offer the highest quality in perfection.

Ginnheimer Strasse 45, 60487 Frankfurt / Main

Der Beitrag The top 9 kitchen studios – Frankfurt am Main erschien zuerst auf ℄ Real Estates.