Selling an apartment in the case of a community of heirs – When the deceased leaves a house or a condominium, the heirs are faced with the question of what to do with the property. Often, they decide to sell it. However, selling a home through a community of heirs can be a complex matter […]
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 […]
Types of Stocks – A corporation, as the name suggests, deals with stock trading. I’m sure you’ve heard that stocks can go up and down. You may also know someone who has invested their wealth in stocks. But what exactly is a share? In a nutshell, a share is a document that determines your entitlement […]
Limited partnership (KG) – The limited partnership is a German legal form founded by two or more persons and managed by at least one partner. The main feature of this legal form of business is the division of liability risk: at least one partner has unlimited liability and at least one partner has exclusive business […]
General partnership (OHG) – The general partnership is a German legal form founded by two or more persons and managed by at least one partner. As the name suggests, it is primarily focused on commercial enterprise and is thus subject to the German Commercial Code (HGB) in the legal sense. Back to all: Legal forms. […]
Pre-heir and post-heir – If you want to be absolutely sure that your assets (including your real estate) remain within a defined circle of heirs, you can determine the so-called “preheirs and post-heirs” in your will. Especially when inheriting real estate, this procedure offers numerous advantages. Here you can find out what needs to be […]
Winter clearing obligation – The winter clearing obligation is the obligation to ensure traffic safety in snowy and icy conditions in order to prevent accidents. This obligation exists for every resident on a road, driveway or sidewalk. If in doubt, you should seek advice from an expert body, as there are extensive regulations and legal […]
Laundry room – The laundry room is a room equipped for washing laundry, usually located in the basement. Nowadays, the term is used for rooms that are intended for the installation of washing machines and/or dryers. In apartment buildings, there are water and electricity connections for the washing machines, which record the consumption via the […]
Ideal division – In the ideal division of a property, co-ownership of several owners is created, which is entered in the land register. 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 declaration it is to […]
Sole heir – The sole heir is the one who receives the entire estate of a deceased person. However, if there are several legal heirs, the heir becomes the sole heir if he is expressly mentioned as the only one in the will. The acceptance of the inheritance is also accompanied by rights and obligations. […]
Partial legal capacity (WEG) – Partial legal capacity is the ability to be the bearer of rights and obligations, to participate actively in legal transactions as a legal entity and to sue and be sued in legal proceedings. Partial legal capacity also means that a condominium owners’ association does not have all the rights that […]
Property management contract – condominium associations usually have a property manager who takes over the management of the common property. A management contract is drawn up for the transfer of this task. This management contract defines the rights and obligations of the manager vis-à-vis the condominium owners’ association. The administrator’s remuneration depends on the expense, […]
