The purchase of a property is always associated with great anticipation and hope for a better future. But sometimes it happens that the developer refuses to hand over the apartment or house, although you have already made all the payments and fulfilled all the conditions. This situation can be very frustrating and stressful, especially if one has already planned to move into or rent out the new property.
If a developer unjustifiably refuses to hand over possession, the buyer has several options to insist on his right. In such cases, the German legal system offers a number of options for resolving conflicts between the developer and the buyer. However, an important first step is to be aware of one’s rights and any contract terms that may exist, and to contact a lawyer for individualized advice.
Especially when there are significant sums involved, it is advisable to seek professional advice in order to find the best legal strategy and resolve the conflict quickly. It may be worthwhile to first contact the developer directly and ask for the reasons for refusing to hand over the property. If this is unsuccessful, further legal action such as a court action or mediation remain as possible solutions.
The importance of the transfer of possession in the purchase of real estate
As a buyer of a property, it is of utmost importance that the transfer of possession takes place in order to be able to use the property. Transfer of possession means that the buyer gets the right to use and enjoy the property, while the seller has the obligation to hand it over to the buyer.