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Rights Charges

Posted by on March 25, 2014

It’s basically anyone – not just German requirements to bid for Citizens – allowed to bid. To do this, but usually a security deposit amounting to 10% of the fixed market value must be provided ( 67 ZVG). This be done by a previous referral to the Court Office, can a bank guarantee or a cheque. Also need to bring an official document establishing identity at the time. (Passport or identity card). What is the so-called minimum bid”? The height of the lowest bid has nothing with the 5/10 rule to do ( 85a ZVG), or with the amount of traffic, but that all higher-level rights must remain. That the claims of all creditors who have ranked higher registration in the land register Department three will be protected, because it is the owner himself, who exerts the procedure. As one assumes Furthermore all are permanent (rights in rem entered in the land register).

The lowest bid is to be applied together from the sum of all Rights (mostly land charges) plus interest plus court costs. To what extent are existing charges on me? The normal sale a lastenfreies land awaits the buyer, i.e. all charges must be dropped prior to or in the course of the sale. Usually, the buyer pays the purchase price on a nota edge account. The notary then obtained the amount of basic debt be due from the Bank and pays them from the purchase price. At the same time, the Bank must grant the deletion of the existing charges.

Finally, the seller receives the rest of the purchase price. Caution: in the case of auction of of Division of is different, because here skip all charges on the successful bidder. You must be paid in full by him to the Bank. This applies even in the case that the previous owner has paid all charges for years and not yet applied for only the deletion. (Here, the German law makes a confusing especially for foreigners distinction between debt and rem rights.) Hotels on the Furthermore counts not that resulting from agreements between the Bank and the owners (the debt part), but only what he can see Department III of the register (the real part). The latter is independent of the former. Of course, the Bank out of the own mortgage is not satisfied. Only the person of the debtor, which now owes the total of registered law changes for the Bank. She therefore paid the former owners at a height where he had already paid interest and debt before the auction. The assignment of a part of the basic debt to the former owners is possible. ImmoguideBerlin is specialized in cheap buying from auctions in the Berlin real estate market.

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