Individual Freehold Ownership – the Condo Owners Property Outright
The German Condominium Act (WEG) refers to all those parts of a property belonging to a single owners outright as individual freehold property. So it represents the opposite to commonhold property. As a condominium owner, you may alter any room or building part that you hold in individual freehold ownership without infringing upon the ownership rights of the building's other freehold owners. That being said, certain restrictions apply in the case of listed buildings. Individual freehold ownership covers both the actual apartment and those facilities in the buildings that, while not serving as living space, are yours to use, such as a basement cubicle, a section of the yard, or a garage. Your individual freehold ownership of an apartment along with your share of the commonhold property
Whether Prior to an Acquisition...
Even ahead of an acquisition, the Accentro Real Estate Encyclopaedia offers interesting facts and decision guidance: We will coach you through the first steps on your path to homeownership. For instance, it provides information on the process flow of a condominium purchase. It will also tell you what sort of documents you need in order to buy property, and where to obtain them.
... or after – Our Real Estate Encyclopaedia Provides the Answers You Need
Once you have bought a property, you may wonder who is going to manage your condo and how. After all, caretaking your property is one of your main obligations as a condominium owner. In addition to numerous tips and suggestions, you will find answers here to many questions involving the property management subject, such as: What does “individual freehold ownership” mean? What exactly do “condominium regulations” govern? And what does the term “condominium fee” imply? In addition, we elaborate subtle differences between terms such as “real estate management” and “corporate real estate management.”
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