State adhesion of the Federal Government for Europeanillegal judicial rulings with cases of scrap iron real estate?

(openPR) - thousands of capital investors in Germany since 1989 in an entry door business a real estate or a real estate fund participation as well as the suitable credit agreement was driven out. The skillful salesmen promised thereby even the investors with small participation in many cases that they can acquire thereby real estates without large Kapitaleinsatz. The interests on loans are to be paid easily by the tax benefits and renting incomes. This business wanted to be able to be escaped hardly an investor. Who wouldn't like to invest in real estates to the age precaution to the zero tariff

The promises of the mediator were however in many cases pure speculation. Many real estates gain only a fraction promised of the net yield. The banks insist nevertheless on the fulfilment of the loan agreement, which the investors now must serve.

These state with considerable arguments that a bank, which explained itself ready for the granting of credit must answer for itself in principle for consulting errors of the external mediator. This logical basic beginning has itself the XI. Civil court of appeal under presidency of the judge Gerd Nobbe in certain cases attached.

The legal consequence is however in many cases completely unsatisfactory for the investor. With judgement from May this yearly decided the BGH that also after the decision of the EuGH in a similar thing regarding the entry door business guideline no cause exists to change the constant iurisdiction of the senate after which the consumer after revocation of the loan agreement in accordance with § 3 entry door revocation law to the immediate repayment of the loan validity plus usual market interest is obligated.

The EuGH had the risks carries, which are connected with the investment come in an entry door situation in its judgement decided that Kreditinstitut, who did not instruct a consumer about its right to it recalls the loan agreement serving for the financing of a real estate acquisition. In the plain language it means for many investors that they are even more badly posed during asserting of their entry door revocation in certain cases, as with renouncement of the right. In a case they must the available credit credit immediately refund, while in the other case at least the appropriate Abtilgung takes place. That gives stones to the investor instead of bread. Due to its bank-friendly and consumer-hostile iurisdiction the responsible person becomes XI. Civil court of appeal of the Federal High Court also as a bank senate designates.

To a legal opinion of the right scientist Professor Dr. Wolfgang bald from the University of Bayreuth the Federal Government did not convert the relevant European Union guideline 85/577/EWG duly into German right. This guideline calls different times for the obligation to notify depending upon kind of coming off the contract. If the contract in an entry door business comes off, is to be instructed with conclusion of a contract. Submitted however the consumer in an entry door situation the manufacturing one for his part an offer on conclusion of a contract, the instruction is not only at the time of the conclusion of the contract, which can lie temporally clearly later at the time of the acceptance of the offer by the manufacturing one to already give but at the time of the delivery of the offer. In the case of missing instruction the legislator would have had to transfer the risk to the credit giver. Here the state adhesion threatens the Federal Government in the worst case.

If the European Court of Justice should decide the fact that the law situation in Germany contradicts European right, because the rights of revocation are not consumer fair with entry door business, but gives preference to the banks, damaged investors can take the state because of missing conversion of the European right in adhesion. The costs in billion height pays at the end of the taxpayers.

Thieler attorney company ltd.
Attorney Stefan A. Seitz
At the Perl oh mountain 3
86150 Augsburg
Tel.: 0821/34999100
Fax.: 0821/34999101
E-Mail: seitz@rechtsanwalt-thieler.de
Internet: www.rechtsanwalt-thieler.de

The Kanzlei is active for decades in the emphasis in the investment right. In the locations Munich, Augsburg, because home, wolf advice living and Passau find competent consultation in the different right areas to investor. A special emphasis lies in the treatment of participation in closed real estate funds in the legal form of the GbR and kg.

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