Category

Conveyancing Germany

Conveyancing GermanyGerman LawGerman Succession & Inheritance Law

Selling Property in Germany? Better hurry!

Corona Crisis will cause German Real Estate Prices to drop For two decades, the only way was up when it came to market value (Verkehrswert) of German houses, flats and apartments, especially in large German cities like Munich, Frankfurt or Berlin. In 2020, this will all change! Even before the Corona outbreak in Europe, the rise in German property prices was no longer as steep as in previous years, due to a combination of extensive…
Bernhard Schmeilzl
March 18, 2020
Conveyancing GermanyGerman ProbateGerman Succession & Inheritance LawProperty in Germany

German Land Registry and the “Grundschuld”

Why Germans often leave a Mortgage (Grundschuld) entered in the Land Registry Records even if the underlying bank loan has been fully repaid? The German word for mortgage is "Grundschuld", which is the most commonly used form of a German security interest in land, i.e. real property lien (Grundpfandrecht). The relevant German statutes are s. 1113 et seqq. German Civil Code. Such a Grundschuld is created by notary deed whenever the German property owner wishes…
Bernhard Schmeilzl
February 20, 2019
Conveyancing GermanyGerman LawGerman ProbateGerman Tax LawProperty in Germany

How to find a Plot of Land in Germany

Practical tips on researching German property (real estate) online Many of our clients want to sell German property. Either because they move abroad or because they have inherited German real estate and decide not to keep it. Some of our clients in Anglo-German inheritance cases do not even know where exactly the German plot of land is located. They just have heard rumours that "granny, uncle or aunt so and so" had owned property in…
Bernhard Schmeilzl
November 27, 2018
Business in GermanyContract TemplatesConveyancing GermanyGerman Corporate LawGerman LawM&A GermanyProperty in GermanyStarting or Expanding Business

Careful with M&A Asset Deals in Germany

Pitfalls of German Contract Law (Part 3):  Many Asset Deal Purchase Agreements must be in Notarial Form to be Valid in Germany German Law requires certain transactions to be recorded before a Civil Law Notary in order for these agreements to be valid and enforceable. The list ranges from pre-nuptial and marriage agreements, to any real estate related transaction, to the formation of German companies and stock corporations. One aspect is, however, sometimes overlooked even…
Bernhard Schmeilzl
September 29, 2017
Conveyancing GermanyGerman LawGerman Tax LawProperty in Germany

Is there German Capital Gains Tax when you sell a German Property?

Tax implications of selling property in Germany If you buy or inherit German property (whether it is a house, a flat or just a plot of land) and this property is then sold (by you or your heirs) before a period of ten full years has expired, the resulting profit (sale price minus purchase price minus certain related costs like notary fees) is subject to German tax, even if you are not a German tax…
Bernhard Schmeilzl
July 26, 2017
Conveyancing GermanyGerman LawProperty in Germany

Purchase German Property by Online Auction?

Beware of buying German real estate through the internet. It does not work that way in Germany! Our firm specalises in German-British and German-Amercian legal matters. Thus, we are sometimes contacted by non-German clients who proudly tell us that they have just successfully bought German property by way of online auction, for example from "MIDLAND ASSET MANAGEMENT LTD" or another online auction service provider. There is just one small problem with this: In order to…
Bernhard Schmeilzl
May 29, 2017
Conveyancing GermanyGerman ProbateGerman Succession & Inheritance LawProperty in GermanyProperty Lease

How to sell inherited German Property

An English or American Executor finds that the Testator's Estate comprises a Flat, House or Plot of Land in Germany. What now? If the deceased owned real estate in Germany which the executor or the beneficiaries now wish to sell as soon as possible, this legal guide explains what needs to be done to sell an inherited home in Germany. The sale of the German property may be complicated further if the house or flat…
Bernhard Schmeilzl
January 12, 2017
Conveyancing GermanyGerman ProbateGerman Succession & Inheritance LawProperty in Germany

Received an Inheritance in Germany? Be ready for Taxes, Taxes, Taxes!

Check the German Capital Gains Tax situation before you sell your inherited property! Waiting a few years may avoid significant taxes. If you have received an inheritance which comprises German assets, in particular German property, this inheritance may or may not trigger inheritance taxes in Germany and / or the UK. We have explained these IHT issues in detail in the following posts: The Perils of German IHT and Gift Tax Basics of German Inheritance…
Bernhard Schmeilzl
October 7, 2016
Conveyancing GermanyGerman ProbateGerman Succession & Inheritance LawProperty in Germany

Is “Miteigentum” in a German Property the same as “Tenancy in Common”?

The different ways to co-own property (real estate) in Germany Well, the legal concepts of "Miteigentum" and "Tenancy in Common" are quite similar, if not identical. The German Miteigentum (co-ownership) is regulated by the German Civil Code in sections 1008 to 1011. Each "Miteigentümer" has a direct, separately transferable interest in the property. However, where property is concerned, the rights of co-owners in Germany are usually individually defined in the notarial deeds and the German…
Bernhard Schmeilzl
September 20, 2016