Stylishly renovated 30s villa in beautiful residential area

The declaration of division is regulated in § 8 of the Condominium Act (WEG). The declaration of division can be described as the "statutes" or "basic law" of a divided property, as all the essential rights and obligations of the co-owners are established here.

The exact amount of equity to be contributed depends on the financial and income situation of the potential buyer as well as the location and risk profile of the property.

In German brokerage law, a broker's sole commission is a contract that defines an exclusive contractual relationship between a broker and the client. In the case of a sole commission, the client binds himself to a single broker who, in return, is obliged to provide a service.

When purchasing a newly built property, a building description is attached to the certified purchase contract as an essential part.

The "hereditary lease" is prohibited by law in Germany today. Colloquially, however, the "Erbbaurecht" is often referred to as "Erbpacht". A "hereditary building right" is a right equivalent to real property which is formed in a separate "hereditary building right land register".