Beding van Aanwas: All You Need to Know
If you’re purchasing a home together with your partner, you may want to consider a Beding van Aanwas. This unique ownership form originates from Dutch civil law and is used to protect real estate investment. In this article, we’ll take a closer look at what a Beding van Aanwas is, how it works, and the benefits.
What is a Beding van Aanwas?
Beding van Aanwas – also called an Accretion Clause or Accretion Condition – is a type of partnership agreement that provides a legal framework to protect the investment made by each partner. When a Beding van Aanwas is drawn up, each partner is considered a co-owner and is responsible for respective shares of the property. Should one partner pass away, the surviving partner automatically inherits their share of the property.
How does a Beding van Aanwas work?
A Beding van Aanwas is a partnership agreement separate from a marriage or cohabitation contract, but it’s most commonly used by unmarried couples who want to protect their respective shares of the property. When using a Beding van Aanwas, partners can agree on the percentage of ownership they each have and the portion of the property they want to inherit in the event that one partner passes away.The agreement is then notarized.
For example, if a couple purchased a property for €300,000 and decided to split it equally, each partner held a 50% ownership share automatically. However, they can set an agreement to change the allocation. They can decide that one partner invests 70% of the purchase price and the other, 30%. In that case, the ownership shares are 70-30.
If one partner dies, their share of the property goes to the surviving partner automatically, and they become the sole owner. If both partners passed away simultaneously, their inheritance rights would apply.
What are the benefits of a Beding van Aanwas?
One of the significant advantages of a Beding van Aanwas is that it provides clear ownership of investment shares, ensuring that partners’ investments are preserved and legally protected. In addition to that, the Beding van Aanwas protects interest in cases of insolvency, divorce, and other disputes. It also means that a partner can’t sell off their share of the property without the other partner’s consent.
FAQs
Q: Is a Beding van Aanwas only available for unmarried couples?
A: No, married couples or registered partners can also use a Beding van Aanwas. It could be useful in protecting interest in an inheritance arrangement.
Q: What are the requirements to draw up a Beding van Aanwas contract?
A: The requirements to draw up a Beding van Aanwas are quite straightforward. Each partner must undergo an examination of identity, then must agree on the percentage of ownership and shares. The agreement needs to be signed before a civil law notary.
Q: Is a Beding van Aanwas a permanent agreement?
A: No, a Beding van Aanwas is not a permanent agreement. If both partners withdraw from the agreement, the ownership shares go back to an equal distribution.
Q: Is a Beding van Aanwas the same as a prenuptial agreement?
A: No, a Beding van Aanwas protects investment shares of partners and has nothing to do with other assets, such as finances, personal savings, or inheritances, which are covered in prenuptial agreements. Prenuptial agreements can also cover matters such as spousal support, but that’s not the case with Beding van Aanwas.
Q: What happens if the property’s value increases over time?
A: If the property’s value rises over time, the profit is divided up according to the partnership agreement’s percentage of ownership.
Conclusion
A Beding van Aanwas is a useful agreement that can protect investment shares in real estate for couples. It’s important to understand the requirements and know if it is the right choice for your situation before signing the agreement. It’s also helpful to create the Beding van Aanwas with the assistance of a professional for transparency and fairness.
Remember, a Beding van Aanwas is not a one-size-fits-all solution, and it should be used only when it makes sense. But if you’re purchasing a home or property with your significant other, it’s worth considering a Beding van Aanwas to protect each of your shares of the property cost and inheritance.