The real estate agent license under § 34c Trade Regulation (GewO) is a mandatory prerequisite to commercially mediate real estate in Germany. Anyone who, without this authorization, concludes contracts or mediates the sale of land, residential or commercial spaces risks fines up to 5,000 euros, loss of commission, and in case of repeat offenses, classification […]
Production costs – Production costs are a valuation standard for manufactured assets and economic goods that have been produced in whole or in part in the company’s own operations. Our financial planning helps. These are not only costs for the production of an object, but also the costs for its expansion and improvement. Production costs […]
Rent increase – The increase of the rent can have different reasons. More on Lukinski.com. For example, the landlord has the right to increase the rent if he wants to carry out modernisation measures or to adjust it to a general rent increase. However, the rent may only be increased 15 months after the last […]
Building encumbrance – The building encumbrance is the public burden of a property owner vis-à-vis the building authority, which obliges him to do, to refrain from doing or to tolerate certain things concerning the property. This burden is registered in a building burden register kept by the city or municipality at the building supervisory authority. […]
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 […]
Building permit – A building permit is the permission granted by a competent authority to erect a structure on a plot of land. Before a building permit is issued, a preliminary building application must be requested from the building supervisory authority. However, anyone who builds without a building permit risks not only a sanction in […]
Compulsory mortgage – A compulsory mortgage is the registration of a mortgage in the land register in the course of a compulsory execution. A forced mortgage is also considered a security mortgage, but unlike a normal mortgage, it is not contractually agreed and is entered in the land register in the course of the foreclosure. […]
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 […]
Building supervisory authority (Berlin) – In general, the building supervisory authority monitors compliance with the public-law regulations for certain projects on building structures. Explore home page. These projects include, for example, the construction, modification, use, maintenance or demolition of buildings. Among other things, the building supervisory authority is responsible for the building permit procedure. In […]
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 […]
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. […]
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, […]
