What is a declaration of division?
The original owner of a plot of land may divide a building into co-ownership shares in the plot, so that each share is linked to the separate ownership of a specific flat or of premises not used for residential purposes.
Furthermore, the regulations specify which parts of the building are subject to separate ownership and which are to be used as common property. In addition, rights of exclusive use (e.g. of garden areas) may be allocated to specific units, and a set of house rules may be adopted. The declaration of division must be notarised. Before the land register entries are created, the building’s division plan must be examined by the competent approving authority (Section 7 of the German Condominium Act (WEG)) and the building’s self-contained nature must be confirmed.
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What exactly is a ‘life lease’?
The ‘hereditary lease’ is now prohibited by law in Germany. In everyday language, however, the ‘right of hereditary leasehold’ is often referred to as a ‘hereditary lease’. A “hereditary building right” is a right equivalent to a property right, which is recorded in a separate “hereditary building rights register”. - Recht & Steuern
Gifting property: costs and valuations
This depends, amongst other things, on the value of the property in conjunction with the tax allowances. It is advisable to seek advice from a tax adviser or chartered accountant, bearing in mind the associated costs.

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