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THE DIVISION PLAN – AN IMPORTANT BASIS FOR SELLING AN APARTMENT
If you are thinking of selling your property, there are various things to bear in mind in order to present it attractively to potential buyers. This is just as important for plots with houses as it is for condominiums.
THE DIVISION PLAN HELPS WITH THE PURCHASE DECISION
When an apartment is sold, its location plays a particular role for prospective buyers. A condominium in an attractive location sells well. What matters is not only the location within the town – central or in a quiet spot on the outskirts – but also the position within the building itself. The division plan is an important tool and makes it easier for prospective buyers to decide on an apartment.
WHAT IS A DIVISION PLAN?
The division plan is of great importance when selling an apartment. It is also called a partition plan and is a construction drawing. The division plan depicts the building. It shows all parts of the building that belong to all owners as common property, as well as the condominiums with their location and size. These condominiums count as separate property.
If you are thinking of selling an apartment, you should obtain the division plan and check whether all important details are clearly shown. Prospective buyers want to know how large the condominium for sale is, which floor it is on and whether it may be on a busy road.
WHAT DOES THE DIVISION PLAN CONTAIN?
The division plan is drawn to a scale of 1:100. It consists of floor plans, elevations and sections. Each condominium is a unit for which a separate land register folio is required. These units must be marked with separate numbers in the division plan. These numbers form the reference basis for determining the separate property within the meaning of Section 7 of the German Condominium Act (Wohnungseigentumsgesetz).
The division plan contains all units of separate property. These are not only residential units. When an apartment is sold, the associated cellar rooms and parking spaces also play an important role for potential buyers. They must therefore also be shown in the division plan. So that prospective buyers know exactly which areas belong to a unit of separate property, the individual condominium units must be numbered consecutively and marked in colour.
PAY ATTENTION TO THE DECLARATION OF DIVISION
The individual units must be self-contained. This requires a declaration of division (Teilungserklärung). With the declaration of division, the owner of the plot declares to the land registry that the residential building is divided into residential units as separate property with associated co-ownership shares. When an apartment is sold, the declaration of division provides important information for potential buyers. The competent authority checks the division plan, which then becomes part of the declaration of division.
According to Section 7 of the Condominium Act, following a decision by the state government, the division plan can also be prepared and certified by a publicly appointed or recognised building expert instead of a building authority.
THE DIVISION PLAN AS A BASIC REQUIREMENT FOR SELLING AN APARTMENT
Alongside the certificate of self-containment, which is a prerequisite for dividing a building into legally separate residential units, the division plan is the basic requirement for selling an apartment. It provides information on the self-containment of the residential units as well as their size and location.