Apartment buyers cannot underestimate the importance of the Teilungserklärung. It is a document that is often not carefully examined and is usually signed by parties who are not fully aware of its contents. However, because the Teilungserklärung is a notarized legal document, it has significant legal value and can lead to conflicts further down the line – even years and decades later. The declaration of division establishes the ownership of the apartment and concerns itself with common property in the complex, including special rights of use for parking spaces.
In detail, the declaration of division contains the following:
- Partition Plan: allocates each partitioned area. It is a construction drawing (scale 1:100) that precisely shows the residential units of a building. In addition, the partition plan clarifies special and common property in the respective building.
- Certificate of Completeness: It certifies that the condominiums and the partial ownership are structurally sufficiently closed off from the other apartments and premises.
- Community Regulations: These define the rights and obligations of each condominium owner concerning the residential community. It can place restrictions on use, allocate the costs among co-owners within the property, and define who pays renovation costs. It also determines voting rights.
Our WEG lawyers will advise you about the Teilungserklärung and common pitfalls before signing it. Issues relating to common property and how it is defined under the agreement can lead to unexpected difficulties later. Similarly, carefully examining the community regulations in advance of signing can be crucial to how you enjoy your property.
By working with our team, you will know precisely what you are signing with the Teilungserklärung, how the property is divided and what actions you can take with your property. As experienced WEG lawyers, our team will highlight any points of contention and advise you regarding how best to counteract potentially unfair practices.