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Insolvencies

Insolvencies should be avoided. However, some people involved in economic life cannot avoid them. Companies "go bankrupt" or private individuals decide to carry out a private insolvency.

JR advises clients on all legal issues arising from and in connection with insolvency issues concerning participants in real estate investments. This includes companies in this field, which have to file for insolvency proceedings due to over-indebtedness or insolvency. Especially the difficult phase prior to such a decision and its avoidance are core consulting competencies of JR.

Consulting

Insolvency (pre)consulting services require a very well-founded overview of the different stages of the business value chain. Averting corporate crises by successfully restructuring the assets of the companies and limiting liabilities is the first priority of the consultancy. Often the "world" does not look so gloomy when you take a closer look. If the visit to the insolvency judge is no longer avoidable, competent legal support protects against destructive civil (damages) and criminal (delay in filing for insolvency, bankruptcy) claims. JR has more than twenty years of consulting experience in this field, which benefits every client - business or private.

Public Law Parameters and Rental Relationships

In addition to the land register restrictions, we examine public law parameters: the land use and development plans. From these it should become clear how the type and extent of building use can be designed. The answers to these questions are the basis for a building application. Questions about fire protection, parking spaces, noise and odour emissions must be examined. But also monument protection or even archaeological monuments (excavations of historical houses, wells, settlements, etc.) and explosive ordnance investigations (old ammunition, bombs from wars) must be examined. Likewise, entries in the register of contaminated sites (old deposits of waste or environmentally hazardous substances, suspected contaminated sites). Public-law obligations of the property owner may arise from the register of building encumbrances (this is the case in North Rhine-Westphalia, in Bavaria and Brandenburg there is no register of building encumbrances; there the building encumbrances are recorded in the land register).

Legal due diligence in real estate transactions also covers all rental and lease relationships of the property. What rental and lease income can be obtained. These contracts are automatically transferred to the purchaser ("purchase does not break rent"). Are rent increases possible, if so, from when? Do the contracts allow for future increases (indexation)? Can contracts possibly be terminated (also by the tenant) (problem: compliance with the written form).

Legal Due Diligence in the Notarial Purchase Contract

Finally, there may be other risks for the purchaser that need to be examined: violation of building regulations, sufficient insurance cover, development cost risk, neighbour agreements, copyrights for architects and artists, which is why they should always be examined during legal due diligence.

Once the legal opportunities and risks have been identified, the results should find their way into the notarial purchase contract. The audit results can directly reduce the purchase price or make guarantees or indemnities necessary. The risks from the various areas are assigned to the contracting parties. In this way, a customised purchase structure (e.g. legal form, commercial character, holding structure) is achieved, which can have a significant influence on the buyer's future tax burden.

In summary, JASPER Rechtsanwälte Düsseldorf advises private and commercial clients in carrying out a legal due diligence. We examine the entire legal relationship of one party to another, or related to an acquisition object. This applies to all contracts, both of a private law and public law nature. More than 25 years of experience in examining such legal relationships helps us to do this. We also keep an eye on a possible later exit (sale, etc.).

Your experts in real estate law in Dusseldorf

Whether attorney, arbitrator, experts in construction, banking or corporate law: JASPER attorneys provide highly specialized legal advice. We look forward to your call under +49(0)211 492590 or by mail to mail@jasper-law.com.

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