... no, this is not a wish list for things you can't actually afford! It may sound like Christmas, but it has to do with tax law.

Spoiler: What is yours and what is not is not so clear.

The term "fictitious ownership" comes from the German Civil Code (BGB) and you will always come across it when it comes to mortgages. The BGB assumes that the owner of a property is always the person listed in the land register. Even if the beneficial owner is perhaps someone completely different.

The bank then turns to this fictitious owner when the mortgage falls due...

And at this moment at the latest, fiction quickly becomes unpleasant reality!

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#Fiction of ownership #Tax law #Real estate knowledge #BGB #Mortgages #WhoOwnsWhat #Tax advice #GoodAdvice #WSB