Ownership of immovable property may neither be transferred on condition nor with the reservation of a time limit.
Where a contract obliging to transfer ownership was concluded on condition or with the reservation of a time limit, an additional agreement between the parties comprising their unconditional assent to the immediate passing of ownership shall be required to transfer the ownership.
A contract obliging to transfer ownership of immovable property shall be executed in the form of a notarial deed. The same requirement shall apply to a contract transferring ownership which is being concluded in order to perform a previously existing obligation to transfer ownership of immovable property; the obligation shall be indicated in the notarial deed.
More in this category
The conclusion of a preliminary agreement does not require the consent of the partners
For the purchase of real estate by a limited liability company the consent of the shareholders' meeting is required (unless the articles of association provide otherwise). Often, before purchasing, for example, a plot of land, a preliminary agreement is concluded. Is...
A guarantee of payment
Issues related to a guarantee of payment are regulated in Articles Art. 6493-6494 of the Act of 23 April 1964 - the Civil Code. The contractor (the general contractor) of the construction works may at any time demand from the investor a guarantee of payment to an...
Companies need to know not only the content of VOBs, but also the risks associated with their use
In Germany, when discussing the subject of construction works in German law, the VOB (Vergabe – und Vertragsordung für Bauleistungen) cannot be omitted.VOB are neither a regulation nor a law, but are general terms and conditions. They combine legal regulations and...