The land register is an electronically maintained public register in which all legal information relating to land and property is recorded. Section Two is particularly interesting for the real estate industry. It deals exclusively with the purchase and sale of real estate.
Knowledge is power
Legal language, with all its terminology, can be a stumbling block, especially when buying or selling real estate. The land register also contains words that are not familiar to everyone and raise questions. To put an end to question marks and uncertainty, we have compiled the most important terms and explained them briefly below.
What does right of first refusal mean?
The right of first refusal of the municipality in which the property is located is laid down by law and is therefore not entered in the land register. This means that the municipality always has the right of first refusal. However, a private individual can also acquire the right of first refusal by concluding a contract. Unlike the municipality, the person is entered in the land register. A private individual can be either an outside third party or the property owner. As soon as the seller and buyer have had the sale notarized, the buyer receives a copy of the notarial contract. This marks the start of the period during which the buyer has the right of first refusal. The buyer only becomes the owner once this period has expired or the right of first refusal has not been exercised.
And what is the right of repurchase?
The right of repurchase has consequences under the law of obligations. Nevertheless, the owner can sell his property in breach of contract. It is advisable for the person entitled to repurchase to have a priority notice entered in the land register in their favor. This is particularly interesting for municipalities if a property is used differently than planned.
What is an easement?
An easement always involves two parties: the servient property and the dominant property. Accordingly, the servient property must obey the dominant property and provide services. The most important thing here is that the dominant property does not have complete control over the servient property, but only over individual types of use.
What is the significance of the right of usufruct?
If a right of usufruct is registered in favor of a person, the usufructuary can act as the owner of the property. They can make full use of the property and also claim any rental income. Therefore, they must also take care of private and public charges, such as property tax. Only the free disposal of the property is reserved for the owner.
What is a real burden?
If a real burden is recorded in writing in the land register, the property owner must make recurring payments to the beneficiary arising from the property. The prerequisite is that the payments are of a positive nature for the beneficiary, such as cash payments.
What is a limited personal servitude?
A limited personal easement is highly personal and is intended for a specific person. The main feature is that the beneficiary is entitled to derive certain benefits from the servient property. However, they may not make full use of the property. Restricted personal easements include the right of residence, the right of permanent residence/use, and the generally restricted personal easement.
