Table of contents:

Leasehold
Leasehold
Video: Leasehold
Video: Leasehold - What is it? 2023, February
Anonim

The heritable building right also gives builders with little income the opportunity to fulfill their dream of owning a home. You lease the property for a certain period of time and pay a “rent” for the use. Here you can read what you have to consider in the ground lease contract and how high the ground rent is.

Table of contents Table of contents Leasehold: A building plot for rent

  • Reasons for the leasehold
  • The ground rent: these rules apply
  • Leasehold contract
  • Heimfall: a special regulation in heritable building rights
  • Pitfalls in the leasehold agreement
  • Sell ​​leasehold
  • Find a leaseholder
  • What happens when the heritable building right expires?
  • Calculate the costs exactly

Table of contents Table of contents Leasehold: A building plot for rent

  • Reasons for the leasehold
  • The ground rent: these rules apply
  • Leasehold contract
  • Heimfall: a special regulation in heritable building rights
  • Pitfalls in the leasehold agreement
  • Sell ​​leasehold
  • Find a leaseholder
  • What happens when the heritable building right expires?
  • Calculate the costs exactly

Many dream of owning their own property, but there is often a lack of equity capital for the expensive property purchase. In this case, an inheritance right can be an alternative. In this case, people used to speak of "second-class ownership" in property valuation, but the concept has a future. It offers the possibility to build on a foreign property without having to be the owner of the property. The leasehold is usually ordered for 99 years. It must also be entered in the land register and can be sold as well as inherited. To be allowed to use the property, you have to pay the owner a fee, the so-called ground rent. However, you remain the owner of your property, while the tenant remains the owner of his property. The property and the building are therefore legally separated from one another.

Reasons for the leasehold

A socio-political aspect also speaks for the heritable building right. In almost every city or town there are properties that will become more important in the future, namely if they are overtaken by urban development. This can be agricultural land or industrial wasteland, abandoned military or rail sites. If the municipality sells land in order to refurbish its household at short notice, these plots are beyond their creative control for the future. The allocation of such land in long-term leases gives the municipality the room for maneuver - it can control who uses the property and receives regular and long-term income from the ground rent.

Das Hunziker-Areal in Zürich
Das Hunziker-Areal in Zürich

The Hunziker site in Zurich is the first project of the building cooperative "more than living", the 41, 000. 2010 square meter site in leasehold.

Photo: Ursula Meisser 2017

In view of the still tense situation on the housing market in many German cities (especially for affordable housing), the awarding of building plots to developers or cooperatives that are oriented to the common good is increasingly favored. Because a reasonably priced plot of land is needed for a socially just supply of living space - so the housing question is increasingly becoming a question of land. With the idea that income from the use of land should flow back into the hands of the citizens and that the municipalities need a long-term management tool for the land and urban development, the heritable building right is given a new topicality. Just as planning and construction law can enforce the angle of inclination of a roof, the heritable building right can regulate and secure financial and social aspects of living.

Das Hunziker-Areal in Zürich
Das Hunziker-Areal in Zürich

A quarter with living space for 1, 200 people and 150 workplaces has been created on the Hunziker site. Energy-efficient buildings, new technologies and few cars support an environmentally friendly lifestyle and save resources.

Photo: Ursula Meissner 2017

The ground rent: these rules apply

In return for the use of the property, you must pay the ground rent or lease interest to the owner. The amount of the fee is not prescribed by law, it must be agreed individually between the lessee and the lessor.

When comparing the ground rate to a mortgage rate, you can see that the ground rent is lower than the mortgage rate for a long-term loan that would have to be taken out to buy a property. Expect around three to five percent of the property costs per year.

Important to know: The ground rent does not remain the same over the entire term. The interest rate is usually provided with an adjustment clause that is linked to the consumer price index (CPI). The amount to be paid should correspond to the value of the property for the entire term of the contract, so it is adjusted to the inflation rate. This protects the property owner from the creeping devaluation of money.

Leasehold contract

A leasehold contract must be concluded for the leasehold. He defines exactly what may be built on the property. Neither the tenant nor the owner of the property can terminate the contract prematurely. The only exception is the so-called "home fall". In addition, the heritable building right must be entered in a special land register, the hereditary building land register, and the contract must be notarized.

Heimfall: a special regulation in heritable building rights

In order to be able to request a return transfer of the property, the so-called "home fall" must occur. This is the case if the lessee does not build on the property within a predetermined period, is in arrears with his interest payments for a long time or violates other obligations from the contract. A neglect of the property is also a sufficient reason. Very important: An urgent personal need of the property owner should be contractually excluded in the interest of the tenant.

For the house, the user receives compensation if the home falls. The law stipulates two thirds of the property's market value. It is best to hire an expert to make a neutral estimate of the value. The following applies to every leasehold agreement: If both parties agree, the contract can also be terminated by mutual agreement in advance.

Pitfalls in the leasehold agreement

Make sure that the contract does not preclude compensation that is due at the end of the contract. The claim, its amount and the payment modalities should already be determined when the contract is concluded. It can also be agreed that the right of the property owner to avert payment of the compensation in certain cases is excluded. You can also anchor a right of first refusal on the property in the leasehold agreement.

Erbbaurecht: So klappt es
Erbbaurecht: So klappt es

The leasehold agreement can only be terminated in the so-called home case - or even if both parties agree on it.

Photo: the house

Sell ​​leasehold

Whether the leasehold can be sold depends on the individual contract. In most cases, however, the tenant can sell the leasehold with the consent of the property owner. The latter only objects if the potential buyer does not have sufficient creditworthiness. Otherwise, the contract is simply transferred to the new user and continues on the same terms. Hire a real estate agent to take care of the sale of the house.

Find a leaseholder

First ask the property office of your municipality or city whether there are any unused contracts or leasehold plots in their administrative area that are expiring. Inquiries to the church can also make sense, as churches are the largest landowners in Germany. There are also companies and occasionally private individuals who lease leasehold properties.

Das Hunziker-Areal in Zürich
Das Hunziker-Areal in Zürich

A wide range of communal spaces and leisure infrastructure enliven the outdoor spaces.

Photo: Ursula Meissner 2017

What happens when the heritable building right expires?

The leasehold right usually ends after 99 years. When the building expires, it falls to the property owner. The latter must then pay appropriate compensation. If you want to extend an existing leasehold agreement, you have the option - provided that both parties agree.

Good to know: If the contract is extended, the leaseholder has no right to compensation for the constructed structure. If he even declines to extend, the right to compensation expires completely.

Calculate the costs exactly

The greatest advantage of real estate ownership under leasehold is financial: the leasehold first lowers the cost of home finance. By building on a long-term usable property, the leaseholder pays the property owner a contractually agreed ground rent and does not have to take up any additional loan volume for the purchase of a property.

The low liquidity burden only has a positive effect if the ground rent is cheaper in years than the bank financing of the property purchase - you should calculate this thoroughly in advance. In the case of low loan interest rates, despite rising property prices, it may well be the case that a loan-financed property purchase including a repayment rate of one to two percent is actually cheaper.

Because the property is legally separated from land, the tax depreciation base is also increased in the case of renting: since the non-depreciable property is no longer applicable, 100 percent of the acquisition costs are attributable to the property. And: the building is inheritable, i.e. transferable like a property, including a plot of land.

Lea Straub editors haus.de

Popular by topic