Real property dictionary
Real property know how from A to Z – our dictionary provides all the answers you need.
Fair market value
The fair market value denotes any price that can be achieved by the sale of an object, usually in a fair business transaction. In the determination of the fair market value, however, special preferences and other non-material evaluations by individuals must remain outside of consideration.
The Residential Property Law of 2002 (WEG 2002) regulates the specific right to own a flat. Flat ownership covers the co-ownership of a property combined with the exclusive right of use and disposal covered by a specific residential property.