Condominium Ownership Agreement

Peter Harlander
Harlander & Partner Rechtsanwälte "Der Wohnungseigentumsvertrag regelt die Rechtsbeziehung der Wohnungseigentümer untereinander."

Peter Harlander
Harlander & Partner Rechtsanwälte „Der Wohnungseigentumsvertrag regelt die Rechtsbeziehung der Wohnungseigentümer untereinander.“

What is a Condominium Ownership Agreement?

As a condominium owner, one is a co-owner of a property. This is associated with the right of the condominium owner to exclusively use a specific apartment on this property.

How is condominium ownership established?

Condominium ownership is understood to be the right, registered in the land register, of a co-owner of a building to exclusively use and dispose of a residential unit, a business premise, or even a garage located therein.

There are special provisions that are regulated in the Condominium Ownership Act (WEG). Condominium ownership usually comes into being when a new residential building is constructed. Furthermore, condominium ownership can only be established for a natural or legal person or an ownership partnership of two people.

First, the number of condominiums must be determined by the responsible building authority or an expert. As a rule, this is done on the basis of plans that have already been approved for construction and at the request of an owner or buyer.

Usufruct assessment

After the application has been submitted, a usufruct assessment is prepared. This determines how many property shares are associated with each of the individual apartments. The usufruct of the apartment is determined on the basis of the usable area.

In addition, surcharges and deductions are calculated for circumstances that increase or decrease value. These can result, for example, from the size, the condition of the equipment, the location of the apartment, or other factors.

After the usufruct has been determined, a condominium ownership agreement can then be concluded. The condominium owners then mutually grant each other the right to use and dispose of their apartments.

Mandatory requirement

The conclusion or existence of a condominium ownership agreement is a mandatory requirement in order to be able to register the condominium owner in the land register.