Grant Agreement
With the grant agreement , the prerequisite for the establishment (legal creation) of condominium or partial ownership on a property is created in German condominium law ( Section 3 Condominium Act (WEG)). Together with the allocation plan and the certificate of closure ( Section 7 (4) WEG), it forms the basis for creating the housing land registers .
Pursuant to Section 2 WEG, residential property can only be established through a grant agreement ( Section 3 WEG) or a declaration of division ( Section 8 WEG). The grant agreement is typically used when the property belongs to several people (joint ownership by fractions), while a declaration of division is usually made by a sole owner of a property.
The granting contract must be notarized ( § 4 Paragraph 3 WEG).
literature
- Bärmann: Condominium Act. Commentary , 11th edition, Munich 2010, ISBN 978-3-406-60576-5
