If you want to buy a property worth looking into the land register.

Every owner is with his property, its ownership and any special rights to use registered separately in the land register. For each condominium or house must be in place by the local Land Registry Office Court there own land registry sheet. Anyone interested in buying a home can view these records. For only that which is laid down in the land is ultimately valid. And not all forms of ownership are of equal worth. The Land Register is primarily the only legally valid proof of what belongs to the individual owner and what is owned by the homeowners association. The Land Registry holds even if the house is mortgaged.

What is the owners’ association

Common property all that matters outside the four walls: the plot, the load-bearing parts of the building (bearing walls, roofing, etc.), the entrance doors, exterior windows of the apartments, the balcony railings, staircase, the elevator, the common basement or attic, but also shared facilities such as central heating. Also inside the apartment, there may be community property (chimneys, power lines).Community property can be formed except for apartments and houses for series or double. In this way, access roads, parking garages, or heating systems are shared.

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What is the home buyer alone

On private property is one of the interior plaster and the non-bearing interior walls of the apartment, the radiator with the leads, the inside of the apartment door, the floating floor and the surface of the floor, the inside of the window (not the window glass) and the inner surfaces of the balcony or loggia .

Special form of “fractional ownership”

Sometimes houses are commonly used not as described above, but in the form of a “fractional ownership” split. In this case, the residents have the house, including all dwellings, together. A purchaser acquires not a particular apartment and a corresponding share of community property, but a fraction of a whole house. The use of a particular flat is secured only by an agreement with the other co-owners.

The fractional design with economic risks: the case of payment difficulties of an owner are all co-owners of the loss of their homes under threat. As the house in the land appears as a unit, not only by the debtor occupied dwelling, but the entire house is auctioned. Thus, all other dwellings are automatically under the hammer! This risk also reduces the resale value of a fractional ownership in private residential construction.

Caution: Loads & mortgages

The land register shows not only who owns a house or an apartment in what way. It is also extremely important because it provides information on the possible impact of the property. Here all the burdens, restrictions, registered mortgages, pensions and mortgage debt are recorded neatly!