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Old 27.10.2020, 21:15
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co-ownershop implications

Hi,
What are the implications of the co-ownership percentage on the property contract (miteigentümer)?
For example, if the two owners split the house 90-10, where is that percentage be used?

The notary told me that this does not matter for taxes, mortgage or selling the house, since each part will take whatever they brought in.
So I asked: then, where does that percentage matters? He told me: never, and nobody cares about the percentage in the contract.

Is that true?
When would that percentage be used?

Thanks!
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Old 28.10.2020, 00:14
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Re: co-ownershop implications

Is the co-owner also your partner (in terms of being on the same tax return)?

In that case I guess it wouldn't make any difference, since you declare everything together anyway.

If you don't do taxes together, which probably means it's an investment property and rented out, then presumably there would be a 90/10 split of wealth, income and costs.
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Old 28.10.2020, 09:58
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Re: co-ownershop implications

Thanks newtoswitz! the co-owner is not in my same tax return, so I guess that the notary told me wrong, and the percentage does matters from a tax point of view
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Old 28.10.2020, 14:14
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Re: co-ownershop implications

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Hi,
What are the implications of the co-ownership percentage on the property contract (miteigentümer)?
For example, if the two owners split the house 90-10, where is that percentage be used?
Friends of ours bought a house which was co owned by a married couple (50-50). When the husband's business went into administration and in order to pay the depts the couple were forced to sell the house. But only the husband's 50% of the selling price was taken into account for paying the depts back.
In that case, to percentage did matter but only in connection to a business.
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Old 28.10.2020, 14:43
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Re: co-ownershop implications

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Friends of ours bought a house which was co owned by a married couple (50-50). When the husband's business went into administration and in order to pay the depts the couple were forced to sell the house. But only the husband's 50% of the selling price was taken into account for paying the depts back.
In that case, to percentage did matter but only in connection to a business.
Unfortunate, this is where having a limited liability company would be helpful.

But I do wonder if a split other than 50/50 would be accepted in the case of a married couple, or the laws related to ownership during a marriage would take precedence.
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Old 28.10.2020, 15:34
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Re: co-ownershop implications

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But I do wonder if a split other than 50/50 would be accepted in the case of a married couple, or the laws related to ownership during a marriage would take precedence.
Depends where the deposit came from.
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