BGH strengthens rights of Erwerbern of closed real estate funds

(openPR) - the Federal High Court strengthened with on 18 January 2007 a decision which was issued (Az III ZR 44/06) the rights of Erwerbern of closed real estate funds opposite their investment consultant.

Background of the decision is that it concerns with real estate funds differently than with free-hold flats interests in the partnership, for which it no liquid secondary market gives. In other words: Investors are long running times of the fund plant during that mostly in this and cannot the participation practically not sell, since there is for this evenly no market. Thus if the assigned capital is at short notice needed due to changing life circumstances - for instance unemployment -, then the investor can not free this nevertheless.

The stock exchange Hamburg furnished recently a secondary market. This is however everything else as efficient, since a large surplus of offerers prevails here, so that for most fund portions no Erwerber is and if nevertheless, then the fund portion can mostly only far under market value to Dumpingpreisen is sold.

The BGH decided now that the investment consultant, who guesses/advises a customer to the acquisition einse of fund portion must refer to this circumstance. If it omits this, it makes itself compensation requiring. The advisor must refund then the entire deposited capital to the customer and receives in response - the frequently worthless fund portions. “

RA Klaus Schröter

Association for existence safety device registered association.
Hermann Löns STR. 14
85757 Karl field
Telephone: 08131-93298
Fax: 08131-996536
Internet: www.vfe.de
E-Mail: info@vfe.de

Association for existence safety device registered association.
For over 20 years the VfE registered association is particularly active in the area of fraudulent tax savings models. In the past 25 years consumers were sold real estates far too expensive by pusher columns as tax savings model. Today the consumers sit on worthless real estates and are highly indebted. Even with the sales of the real estate they remain sitting on a debt mountain. This calls Johann Tillich one „legal fraud “. “The point is that the customer is deceived over the actual value of the dwelling. One speaks of a total price, without describing the customers that the fees constitute partially over 1/3 of the sum total, to which material real estate prices is and explains thus the far under selling price”, Tillich. Wants or if the buyer must sell the object after some years, then he remains usually sitting on a high debt mountain. Ever more humans grope into the set up traps. “The banks, those carry partial responsibility the financing of the tax savings package safe.” They can be often paid fees to the “Wertberprüfung of the real estate “, do not consider it however not necessary to make the customers attentive the characteristics of the “tax savings model”. “The worst is that renowned banks take part in “the legal fraud”. They assigned loans, those the value of the dwelling around the double exceed.” The association for existence safety device does not want to wait however at all, until the swindle happened to carry out but tried in the apron clearing-up work. Lectures and clearing-up campaigns belong to the association work likewise, like assistance with the examination of any financing offers. Johann Tillich summarizes: “Who member is, keeps in the association for existence safety device individual support, if it has economic problems. Together with qualified attorneys and the readiness of the member to participate in a total conception actively we find a realizable solution for nearly each affair.”

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