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Buy a property in need of renovation, fix it up, and resell it at a profit—many people view “fix and flip” as an attractive way to make money in the real estate market. On social media, in online videos, and on advice websites, this model is often portrayed as a relatively easy way to build wealth. In reality, however, there are numerous financial, tax, and legal issues to consider. Especially when it comes to…

Anyone who wants to settle their estate can achieve a great deal with just a few sentences—but can also trigger unintended consequences. Typical mistakes can be avoided if important issues are considered early on and legally settled in an unambiguous manner. Relying on statutory succession: The belief that the surviving spouse automatically inherits the entire estate upon the death of the other spouse is a widespread…

Fraudsters Are Targeting Start-ups—Westphalian Chamber of Notaries. Time and again, newly established limited liability companies (GmbHs) receive fake invoices immediately after being entered in the commercial register. Many of these fake documents can only be distinguished from the official invoices issued by the registry courts upon close inspection, and they demand payment within an extremely short timeframe. Failure to pay allegedly results in late fees…

Nationwide standardized continuing education credentials—Notary Specialist, Notary Assistant, and Notary Consultant—already existed, offering notary clerks a wide range of opportunities to pursue continuing education and earn advanced professional qualifications. „With the new continuing education structure, these opportunities will become even more transparent and comparable nationwide in the future,“ explains Dr. Markus Sikora, President of the Federal Chamber of Notaries. The previously regionally varied continuing education programs will be replaced by a uniform system,…

Homeowners without direct access to the street often assume that their neighbor will allow them to cross their property. This can quickly become a problem in the event of a dispute or a sale to a third party if a right of way has not been recorded in the land registry. Even after decades of tacit agreement, there is no customary right to use the path. Those affected, as well as people who own a second home…

Many homeowners underestimate the legal requirements involved when selling a house with a solar power system. Notaries provide guidance and offer legally sound solutions. What buyers and sellers need to know. Millions of homes in Germany have solar panels on their roofs. But what happens to these systems when the home is sold? Do they automatically become part of the building? Is the…