Definition

Using a joint liability, you can assign parcels from different land register pages to a common ID. This also applies for parcels for which you did not create a land register page in the system.

Use

After you enter into a loan contract, you enter the encumbrance of the parcel. Different parcelsthat serve jointly as collateral for a debt (joint liability) can be assigned to different land registers. When this is the case, you can enter these parcels under a common name (of your choice) in a joint liability. As a result of this entry, the system records this encumbrance in each of the parcels with an entry in section III of the different land registers. In the joint liability, you can reference all these entries in section III of the various land registers that contain parcels serving as joint collateral.

The joint liability contains the following information:

You can use the number of the joint liability to identify parcels that jointly act as collateral, although they may be entered in other land registers.

You can run a report showing the land registers that contain parcels affected by joint liability. In the Information System of Flexible Real Estate Management, choose  Country Specifics Germany Land Use Management Land Registers – Joint Liability .

To display the joint liabilities, choose  Country Specifics Germany Land Use Management Joint Liability.

Integration

The Joint Liability object is integrated with the Land Register object. All joint liabilities you enter appear on the Section III tab page of the land register. You can also enter the joint liability directly in the land register.