Understanding land registry entries correctly, instead of buying the grandparents along with the property

To most laypeople, the land register for a property seems like gibberish at first glance. However, it actually contains important information that should definitely be read and understood before buying, to avoid unpleasant surprises at the notary appointment.

A look at Section II of the land register reveals, for example, who has which rights and obligations regarding the property. This could include, among other things, the seller's lender or a usufruct right for the seller.
Every right has its value, or rather, every encumbrance reduces the market value of the property. There are even cases that render a property virtually worthless to the buyer, such as when a right of way designates part of the property as access to a neighboring property.

Parents who bequeath their property to their children often have a right of residence registered in the land register for themselves. Anyone who then buys the house from the children also gets grandparents as part of the arrangement.
Even greater financial implications are associated with the right of usufruct , which allows a person or company to fully manage the property and retain all income. In the case of a life annuity, the pension payments or long-term care financing are secured by the property.

It is important to know that these rights are generally granted for the entire lifespan of the property – due to their unpredictability, they therefore bring considerable planning and financial uncertainties for the property owner.

Besides the land register, there are several other things to consider when buying a property. You can find out exactly what here: Information for buyers

source: facebook/remaxsuedwest