Conveyance notice (land register) – The conveyance notice refers to the agreement that the ownership of a property is to be transferred from the seller to the purchaser of the property and that this transfer of ownership is to be executed in the land register. Due to the conditional immediate reaction of the land register, […]
Conveyance (land register) – Conveyance is the agreement of the buyer and seller that ownership of the property is to be transferred to the purchaser and the transfer of ownership is to be executed in the land register. Only with the conveyance and the completed entry in the land register does the purchaser receive the […]
Duty of disclosure – The broker or seller has a duty of disclosure when selling a property. In general, this includes the personal details of the service provider, such as the address of the branch and the supervisory authority, any entry in the commercial register or general terms and conditions used. Furthermore, the broker or […]
Sole ownership – Sole ownership is the right of the owner of a certain object or piece of land to determine this thing alone. In the case of real estate, ownership is determined by which owner is registered in the land register. The sole owner of a property has the right to do whatever he […]
Department (land register) – The land register is composed of three departments. In section I the personal data of a person are registered. If there are several owners, they must all agree to the sale by having the purchase contract notarised. In section II, all encumbrances on the property are noted, with the exception of […]
Distance area – The distance area is the area that must be kept free from the border of the neighbouring property. The area to be kept clear is not only intended to ensure the best possible fire protection, but also that the neighbour’s property is not visually restricted. The minimum distance to be maintained from […]
Real estate annuity – If the buyer of a property cannot immediately or fully raise the financing, it can be agreed that the purchaser pays the seller an ongoing annuity. The purchaser’s payment obligation must be secured in rem in the land register, as the real estate annuity is long-term and the seller must protect […]
Partition agreement – If a partition agreement is adopted, the co-owners of a property declare to the land registry that they wish to divide the property they own into co-ownership shares. This creates special or part ownership, which is allocated to the individual co-owners after the property has been divided. The co-ownership that existed until […]
Partition auction – If several people own a property and one owner refuses to sell the property, he or she can pursue a partition auction. This means that the local court orders the forced sale of the property upon request. Similarly, in the case of joint heirs, each co-heir has the right to apply for […]
Partition measurement – Partition measurement plays an important role in the division of a plot of land. If the partial area of a property is to be sold and given its own sheet in the land register, a partition survey must be carried out, which records the new property boundaries in the real estate cadastre. […]
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 […]
Gross rent – Gross rent is when all ancillary costs for a rented property are directly included in the rent and no further costs are incurred. A distinction is made between the gross warm rent and the gross cold rent. In the case of the warm rent, all operating costs are included, whereas in the […]
