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Land charge

Right in rem over an asset which obligates the owner of the asset to a positive act. The most important charge is the life estate. On a farm this is the obligation in rem to maintain the natural, financial and work-related efforts of the previous owner. Land charges arise when recorded in the Land Register. The content and extent of any right must be recorded as precisely as possible.

Land Register

Public register from which the legal status of a property can be seen. Land Registers are kept by the regional courts and can be viewed by any member of the public.

Land tax

The land tax (Grundsteuer) is a tax on domestic land ownership. A distinction is made between agricultural and forestry assets and real estate. The land tax is payable to the relevant local authority.

Land transfer tax

The land transfer tax (Grunderwerbssteuer) is a transaction tax and relates to the acquisition of domestic land. It amounts as a general rule to 3.5% of the consideration, or 2% for close relatives.

Legal aspects of a purchase

Important questions relating to a purchase should be clarified in the contract. Close attention should be paid at the preparatory stage to contractual obligations. Financing is at the heart of this. That is why the contract conditions in the loan agreement must definitely concur with the corresponding requirements in the sales contract. Pay particular attention that the bank places no other demands on the payment of the sales price than those agreed in the contract.

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