On the safe side with a broker
Dividing a property is associated with several bureaucratic and legal hurdles. Bendzko gets you there!
The division of a residential building or tenement into privately owned apartments is always necessary when you want to sell the apartments separately. The advantage is that you get a higher total price than if you sell the building as a whole. Division can also be interesting if an owner has several children and wants to divide the inheritance fairly. If you plan to transform a tenement into privately owned apartments, we recommend that you get the help of a broker.
At Bendzko Immobilien, we handle all the relevant details and spare you any unpleasant financial, legal, or tax surprises. We also handle communications with the authorities. Below, we have put together some information to illustrate how complex the division of property is.
Procedure and formal aspects
Costs of transformation
Tenant rights
Procedure and formal aspects
It is not so simple to transform a tenement into privately owned apartments. You need a division plan, which forms the basis for a certificate of self-containment. This proves that the individual units of the building are self-contained, i.e., have a separate entrance and are delimited from the other units. The division can then proceed based on the certificate of self-containment. This step is handled by a notary. He handles the registration of the declaration of division and registers it in the Land Register. The declaration of division contains a lot of information governing the ownership shares and the rights of the future commonhold association. For instance, it divides the property into private property, common property, and partially private property and settles special rights of use.
Costs of transformation
One cost item is the notarial registration of the declaration of division. This is based on the value of the property. The certificate of self-containment itself can cost up to 1,000 euros, depending on the municipality. Older tenements frequently also require the services of an architect to draw up precise ground plans. These are needed to create a detailed division plan.
Tenant rights
Tenants have special rights during the transformation of a building into privately owned apartments. One of these is the right of pre-emption.
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