Condominium owners’ association – The condominium owners’ association (WEG) is one of the many forms of housing that exist in Germany. It is a community of owners who share a residential complex. In this article, we would like to provide you with basic information about the WEG and go into the most important aspects, such […]
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 […]
Ideal division – In the ideal division of a property, co-ownership of several owners is created, which is entered in the land register. Visit back to overview. In this case, the property is not actually divided into independent parts, but the owners regulate their rights and obligations in a notarised declaration of division. In this […]
Insolvency – Insolvency reveals the insolvency or threatened insolvency of a person. Visit home page. One speaks of insolvency when the debtor cannot meet 90% of his obligations within 4 weeks. If this is the case, insolvency proceedings are opened. In these proceedings, the debtor’s assets are liquidated by an insolvency administrator and the proceeds […]
Declaration of division – In the declaration of division, a property is divided into co-ownership shares. This means that the owner specifies that the ownership of a property is to be divided in such a way that each share is associated with the separate ownership of an apartment or a room not used for residential […]