“The hardest part of having an idea is not having it, but knowing if it’s good.” (Chris Howland) Payment transactions for time value accounts or for “contractual portability” Innovative initiators in the field of company pension schemes (bAV) and the handling of time value accounts have brought models onto the market in which they […]
Banking law: errors in advice, credit traps and more As a lawyer for banking law, I know that a bank has been part of our daily life since our earliest childhood. Just remember your first savings book, which you probably got at primary school from the nice savings bank advisor next door. We withdraw money, […]
Insolvency creditors normally have to register their claims in the table and can immediately write off up to more than 90%. The rate is often just above zero. Nevertheless, there are numerous exceptions to the rule of how to get your money despite the insolvency of the debtor. Maintenance obligations and intentional tort […]
The Federal Supreme Court (BGH, ruling of 27 June 2018, file no. IV ZR 222/16) decided that to insure the life of another (the insured person, CP), the consent of this CP is also required at a later date. This applies not only to the original conclusion of the contract, but also if only the […]
The implementation of the Directive EU 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution, i.e. the Insurance Distribution Directive (IDD) by Section 43c of the German Insurance Supervision Act (VAG), leads to financial risks for insurers (VR) and insurance brokers (VM). The insurer may be allowed to […]
When selling real estate, the bank loans are usually repaid by the seller so that the property can be transferred unencumbered in the land register – with the existing encumbrances, the property would normally be unsaleable. The repayment of the loans is seen – merely – as a precondition for the bank to release the […]
Why there is often no justified interest in premature termination of the contract When selling real estate, the bank loans are usually repaid by the seller so that the property can be transferred unencumbered in the land register – with the existing encumbrances, the property would normally be unsaleable. The repayment of the loans […]
Many brokers offer additional services. But there will certainly not be a simple answer to the question of which ones may be offered. In the second part – the first part you will find here – of an exclusive contribution for FONDS professionell ONLINE, attorney Johannes Fiala and actuary Peter A. Schramm explain the obstacles […]
The importance of legally effective brokerage agreements is repeatedly pointed out. The team of authors, Dr. Johannes Fiala and Peter Schramm, explain in their contribution which difficulties arise for the parties involved due to missing, insufficient or too comprehensive brokerage powers. The Federal Court of Justice (BGH, ruling of 29.05.2013, ref. IV ZR 165/12) […]
Why presumption certificates and well-intentioned laws invite crime Over 35 million citizens live in Germany for rent. Since 01.11.2015, they have to submit a certificate from the landlord about moving in and out to the registration office. A state secretary from the Ministry of the Interior commented on the amendment to the law: “The Federal […]
