Land register (Grundbuch)
The Grundbuch (land register) is the official register of all plots of land and their legal status in Germany – kept at the local court.
The 3 sections:
Section I: ownership
• Who is the owner?
• How was ownership acquired? (purchase, inheritance, gift)
Section II: encumbrances and restrictions
• Usufruct, right of way, right of residence
• Building encumbrances, rights of first refusal
• Priority notice of conveyance (protection when buying)
Section III: charges on land
• Land charges (security for bank loans)
• Mortgages (hardly used any more)
• Rank decides: who gets money first in a foreclosure auction
Inspection:
• The land register is not publicly accessible
• Only with a "legitimate interest" (owner, prospective buyer with proof, notary, creditor)
• Inspection at the land registry: free of charge up to approx. €20
Costs for entries:
• Change of ownership: approx. 0.5% of the purchase price
• Land charge entry: approx. 0.5% of the land charge amount
📚 Land register (Grundbuch) understood?
Deepen your financial knowledge with 60 free learning modules and 16 calculators.
📚 To the learning paths →Das könnte dich auch interessieren