Eigentumswohnungsbereich
Eigentumswohnung is a form of real estate ownership in which a defined living unit within a multi-unit residential building is owned by an individual or legal entity, while the common parts of the property are jointly owned by all owners. The legal framework in Germany is provided by the Wohnungseigentumsgesetz (WEG).
A unit becomes Eigentum through a declaration of division (Teilungserklärung) and a subdivision plan (Aufteilungsplan), and
Day-to-day management is often handled by a property manager (Verwalter) or a management committee, with decisions
Ownership carries both rights and duties. Owners may individually finance their units (e.g., by mortgage) and