Erfahrungen & Bewertungen zu JASPER Rechtsanwälte

Real Estate Agents and Property Developers Ordinance (Makler- und Bauträgerverordnung (MaBV))

1. Derivation
The Broker and Property Developer Ordinance (MaBV) is a legal ordinance issued by the Federal Ministry of Economics on the legal basis of § 34c para. 3 GewO. It contains special regulations on the exercise of the profession and the duties to be complied with by brokers, loan and investment intermediaries, property developers and construction supervisors. These obligations also apply to those who have not applied for a corresponding advertising permit. The regulations generally do not apply to general contractors, prime contractors or total contractors. Likewise, the Brokerage and Property Development Ordinance does not apply to insurance and building society agents (provided they do not conduct brokerage business) and property managers, but only with regard to the brokerage of properties in the managed portfolio.

2. Obligations
The Real Estate Agents and Property Developers Ordinance designates those who fall within its scope as traders. These are essentially estate agents and property developers. They are subject to certain obligations which they must fulfil for the protection of the principal (i.e. their clients) and only the so-called consumer principal. In summary, these are duties of disclosure, accounting duties, duties to provide information, security and insurance as well as duties of safekeeping and collection. Special security obligations apply to property developers (see there).