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What does ... mean?
Community of owners (WEG)

Together, all condominium owners of a property form a community of owners. General decisions are in the interest of all owners and are usually taken jointly at an owner’s meeting. These are then supported by the owner’s community’s property management.

Communal property

The communal property includes all parts that do not belong to the individual ownership property (the apartment itself). This usually includes gardens, laundry and boiler rooms. In addition, there is the compelling communal property. These parts include, for example, circulation areas such as staircases, elevators, supporting walls, roof and the façade. The buyer receives the right to use the communal property by purchasing the apartment.

Co-ownership shares

The co-ownership share is the buyer’s share in the communal property (e.g. land, staircase etc.) This is specified in the declaration of division.

Rights of separate use

The right of separate use grants a person to use areas and spaces which are part of communal property. This right is regulated in the declaration of division.

Individual ownership property

In principle, everything that is not a part of the communal property is considered property of individual ownership. It includes any condominium owned solely by the owner. Basement rooms can also be part of individual ownership if they are physically separated. The owner may use the property at his/her discretion, provided this does not violate the law or the rights of third parties.

Partial ownership

Partial ownership is property that is not for residential purposes. It is part of individual ownership property and usually includes basement rooms, parking spaces or gardens. Its use is predetermined by law, and, therefore, cannot be used for residential purposes, meaning commercial use is possible for partial ownership property.

Transfer of benefits & encumbrances

With the transfer of benefits/encumbrances, the property is economically transferred to the buyer. From this point on, the buyer may take possession of the apartment and is entitled to all income – e.g. rental income. Likewise, however, he must also bear all costs – e.g. property taxes, waste and sewage charges.

Notary sub-account

A notary can create a sub-account to which the purchase price is transferred. This prevents a mix-up with other amounts, leads to clear and legally secure transaction of the purchase and secures the transfer of ownership to the buyer.

Conservation area regulations

In areas protected by conservation regulations, the conversion of rented apartments into condominiums is subject to approval in accordance to the German Conversion Prohibition Ordinance (German: Umwandlungverbotsgesetz) and is only permissible under certain circumstances. A permit is also required for the dismantling, modification or alterations made to the use of the properties. Should the measures affect the protective purpose of the conservation regulations, the measures are denied.

Listed buildings

Listed buildings in the sense of the law on the protection of the ancient monuments in Berlin (German: Denkmalschutzgesetz Berlin (DSchG Bln), are architectural monuments, monument areas, garden monuments and ground monuments. The monuments are listed in a public register.
The task of monument protection lies in the preservation of important testimonies of the building culture, while taking into account its historical characteristics. The monument protection authority endeavours to convey the monument idea to the owners of listed buildings within the framework of economic reasonableness. On the basis of necessary applications, it issues the permits required under monument law, and performs regulatory tasks under monument protection law.

Politically exposed persons

Are natural persons who hold or have held an important public office as well as their immediate family members and persons known to be close to them. These include the following groups of persons:

  • Heads of state, heads of government, ministers, members of the European Commission, deputy ministers and state secretaries.
  • Members of parliament or members of comparable legislative bodies
  • Members of the governing bodies of political parties
  • Members of supreme courts, constitutional courts or other high courts against whose decisions there is normally no further right of appeal
  • Members of the governing bodies of courts of audit
  • Members of the governing bodies of central banks
  • Ambassadors, chargés d'affaires and defence attachés
  • Members of the administrative, management and supervisory bodies of state-owned enterprises
  • Directors, deputy directors, members of the governing body or other heads of comparable functions in an international or European intergovernmental organisation.


Persons who have not held any important public office within the meaning of the Money Laundering Act for at least one year are no longer included.


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+49 30 233 20 39 80
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