Vocabulary

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Gemeinschaftseigentum: Collective property

Collective property includes all areas which are not counted as estate in severalty such as, for example, buildings and stairwells or laundry rooms and boiler rooms. The buyer automatically receives the right to use the collective property at purchase.

Grundbuch: Land register

Within the land register, the ownership structure and rights as well as the charges for a property are recorded in written or electronic form. It is a public record of properties and contains, among other things, information pertaining to the owner of the corresponding property. Furthermore, it allows entitled third parties to view ownership structures.