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Divorce property: Understanding the land register
It often happens that one spouse pays more towards the property than the other because they brought more assets into the marriage or have a higher income. However, this is irrelevant in the event of divorce. The decisive factor is who is listed in the land register and with what share.
The land register is the "identity card" of the property. The cover page, known as the land register inscription, contains the name of the land registry district, the page number and, in many cases, the date of registration and transfer. The inventory of the land register contains the exact location and description of the property, i.e., the district, parcel number, location description, and size of the property. In addition, the land register is divided into three sections.
Section I
Section I documents the ownership of the property, i.e., who the owner of the property is. There may be one or more owners. If there are several owners, this section also states who owns which shares in the property. In the case of spouses, this may be 50 percent each. However, there are also divisions into two and one third or other divisions. If three heirs own a property, each usually owns one third.
Section II
Section II contains the so-called encumbrances and restrictions on the property. These are registered residential and usufructuary rights as well as rights of use such as a right of way. In addition, the right to supply and dispose of utilities is also noted here. This regulates that electricity, gas, water, and sewage lines may run through the property.
Section III
Mortgages and land charges are recorded in Section III. If a bank has financed the purchase of the property, a land charge is usually recorded here. This is the amount that the bank has registered to secure its loan. Once the loan has been repaid, the land charge is deleted.
Entries that are no longer valid are either underlined or crossed out. These are supplemented by the corresponding deletion and amendment columns. Since the entries must always remain legible, no entries are removed.
Are you unsure what individual notes in the land register mean or what the best solution is for your divorce property? Contact us! We will be happy to advise you.
Notes
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please have the facts of your specific case clarified by a lawyer and/or tax advisor.
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