High credit recording inclusion in individual cases was not legal due to form errors
High borrowing cost
Does the creditworthiness result from high irrevocable payments, example pensions? The Good credit company can in individual cases also take a high loan. The dollar loan offer around a bare loan offers the change to high fees. Not everyone can take such a big loan.
Ownership community has renovated facades.
A community of owners may be authorized to issue a long-term loan. In this particular case, an association of owners had used a USD 1.3 million loan to refurbish the facade. Thus, a Pforzheim-based proprietor complained against the decision of his own-ownership association to use a loan of USD 1.3 million in order to underpin the reorganization of the front, including thermal protection.
Ultimately, the Federal Supreme Court ruled that an ownership community could have the right to raise a large amount of credit. However, the inclusion in individual cases was not legal due to form errors. In detail, the builders’ association decided in September 2013 to renovate the facade, including thermal insulation. The total cost of the project is around USD 2 million, most of which has been refinanced through a ten-year Intrasavings bank development loan:
About 1.3 million ES The remainder was financed by the owner group through the use of the maintenance measures. Because of the sum and duration of the loan, an owner has prevailed in court. In the meantime, the Nice bank has ruled that the use of a high and permanent loan under certain conditions also corresponds to the “ordinary administration”.
Depends on the specific circumstances
However, that depends on the specific circumstances. The Nice bank finds it all the more urgent the more urgent a measure is, the more likely it is that other disadvantages of credit financing must be given up in the accounting process – in this particular case, the cost of living for the individual. In addition, a loan would be particularly suitable if the variant would be the levy of a special levy, ie if homeowners had to raise a lot of capital in one go.
The loan also enables less-financially-owned builders’ associations to save themselves a costly renovation. In addition, the loan amount and the exact conditions are decisive. The decision of the sponsoring community must also include information on the measures to be financed, the amount of the loan, the duration of the loan and the interest rate.
In addition, it must be clear whether the repayment installments are designed in such a way that the loan can be repaid at the end of the period. However, the point of dispute in individual cases was the so-called multiple contribution obligation. The owners’ association must inform the individual owners that they can be forced to inject money in the event of insolvency of other owners.