– When to revoke credit and loan contracts, as well as life, annuity and other insurance policies -. The Federal Court of Justice (BGH, judgment of 24 April 2013, Case No. IV ZR 23/12) decided when customers of, for example, credit institutions (in particular private banks, savings banks) as well as insurance companies have a […]
Artikel zum Thema: Early repayment fee
Repay fixed-interest loans early
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 […]
Early repayment of fixed-interest loans is often not permitted when selling real estate
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 […]
You should take this into account when revoking your life insurance contract
Pursuant to § 7 Para. 1 of the German Insurance Contract Act (VVG 2008), insurance companies must inform their customers in text form of the “contractual provisions, including the general terms and conditions of insurance, as well as the information specified in a statutory instrument pursuant to Para. 2” before concluding a contract. This […]
Unlimited right of cancellation for bank loans with legal debt insurance
BGH: Bank. And insurance customers are due billions in reversals Because of high commissions banks like to sell to loans equal to a residual debt insurance. Until recently, banks believed that loans and insurance were each separate contracts with separate cancellation rights – which was the only way they supposedly properly instructed customers. However, […]
Bank and insurance customers are entitled to reversal of the transaction
Because of high commissions banks like to sell to loans equal to a residual debt insurance. Until recently, banks believed that loans and insurance were each separate contracts with separate cancellation rights – which was the only way they supposedly properly instructed customers … But now, to everyone’s surprise, the Federal Court of Justice […]
Liability issues in the tax saving and acquirer model
by Johannes Fiala, MBA/Lawyer Kristina Starck, Munich/Dr. rer pol Klaus Werht, private lecturer at the Department of Economics of the University of Hamburg, damage assessor in Hamburg-Neugraben I. Typical facts The investor is regularly approached by a contact person with the aim of clarifying whether there is a general interest in saving taxes or acquiring […]
Liability issues in the tax saving and acquirer model
by Johannes Fiala, lawyer; Kristina Starck, lawyer; Klaus Werht, Dr rer pol Privatdozent at the Department of Economics at the University of Hamburg I. Typical situation The investor is regularly approached by a contact person with the aim of clarifying whether there is a general interest in saving taxes or in acquiring a property with […]