Detailed description
Partial ownership is the ownership (special ownership; also called room ownership) of non-residential rooms in a building in conjunction with the co-ownership share in the common property (land and parts of the building that are used jointly).
The most common examples of shared ownership are:
- storage rooms
- offices
- practices
- law firms
- restaurants
- workshops
- studio for artists
- cafes
- shops
If you want to establish partial ownership, you must have this entered in the land register. Partial ownership land registers are created for this purpose. This means that a separate, special land register sheet is created for each spatial unit.
To do this, you as the owner must
- submit a declaration of division to the land registry office or
- conclude a partition agreement.
The declaration of division must be notarized and the division contract must be notarized.
The part ownership can then
- be sold.
- be encumbered with mortgages or other rights.
- be inherited.
Note: The regulations for land registry entries and the associated formalities are complex. You should therefore always seek advice from a notary.