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Old 01.06.2007, 08:01
Richard Richard is offline
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Re: Does "Anteilscheine" mean "deposit"?

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Ok, I lied: I have more questions. Any idea what they do with that money? It seems pointless to leave it somewhere without it collecting anything. This whole idea is a bit strange to me. Unless of course if it does collect it, but that interest does not go to the tenant. That makes a lot more sense, but is just a way of masking inflating the rent.
Hi It is not such a daft idea really. The money was originally paid to build the place. It therefore countered needing to take a loan with a bank, which might not have been possible. The correct English legal phrase is a certificate of participation and not a share certificate. A share certificate is a different type of legal document which has a free market value. Your piece of paper is tied to the living in the apartment and although you should be able to get your money back there is no guarantee. Furthermore there is no requirement to pay any kind of interest. The principle is identical to the so called shares in golf clubs where you pay $20'000 share, $5000 joining fee and $1000 per year membership. The share money was used to help build the place the joining fee you lose and the membership gives you the privilege. When you leave you sell your share to the new member.
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