1. community of owners in the land register - special features briefly explained
It is not uncommon for two or more owners of a property to be entered in the land register. This is the case, for example, for married couples or if the parental home is transferred to the children in a community of heirs.
In the case of a community of owners of a property, a legal distinction is made between a fractional community and a community of joint owners. Sounds complicated at first, but it's not:
Fractional community: This legal form of community of owners is widespread among married couples. In sections 741 et seq. of the German Civil Code (BGB), fractional community ownership means that several owners have the same rights to the property - usually in equal shares.
Joint ownership: In the case of joint ownership, on the other hand, the property is owned jointly by several people. In the case of a community of heirs, this means that the property can only be sold if all owners jointly agree.
2. you want to sell your house share - you should definitely bear this in mind!
Would you like to sell your share of the house after the divorce or not keep the house after an inheritance?
This can be complicated.
In the case of joint ownership, the co-heirsgenerally have a right of first refusal and must be notified of the sale of an inherited share.
In principle, the following applies to fractional communities: everyone is free to sell theirshare.However, in the case of spouses, consent is required if a large part of the marital property is involved. (Section 1365 of the German Civil Code (BGB))
Tip: As a real estate agent with a lot of experience and empathy in this area, we are happy to advise and mediate for you. Especially when it comes to emotional issues such as divorce or inheritance matters, it is advisable to have a neutral person at your side to provide support.
If only one owner wants to sell their share of the house, this is usually difficult to realise in practice. After all, who wants to buy half a house? Sales within the family are an exception here. If a house share is to be transferred within the family, the sale may well be successful.
Another option for selling a share of a house despite disagreement is a partition auction. However, owners should only consider this option as a last resort. This is because auction proceeds are usually realised at between 20% and 30% below the actual property value.
The instrument of a partition auction is associated with high costs and is time-consuming.
Another option is to divide the property into two separate flats. In this case, it is important to note that a declaration of division and a certificate of completion must be available when selling a residential unit.
Conclusion: Expert support is worthwhile when selling a property share.
Wienroth Immobilen will provide you with professional support in selling your share of the property and avoiding unnecessary costs. Contact us, we will be happy to advise you.
We specialise in property transactions in the event of inheritance or divorce. We work closely with a network of experts, lawyers, notaries, tax advisors and mediators. With us, you can expect expert support with the necessary empathy in this complicated situation. We take care of the successful sale of your house share.