LEGAL NATURE, FOUNDATION AND DURATION OF THE BUILDING LEASE IN GERMAN AND AUSTRIAN LAW
The building lease in German and Austrian law is special real estate right, which could be inherited and it is an alienable right which entitles its holder to the property of the building. It represents on one hand a burden on property on which is founded, on the other hand it is special real estate right. Because of its dual nature it is first registered in the land register of encumbered real estate as its burden, and then opens for him a separate book or sheet, in which subsequently will be entered all changes relating to the building lease, which is the real property in the legal sense. The building lease is generally time-limited, except that German law does not prescribe the minimum and maximum of its duration, as it is the case in Austrian law. After the expiration of the term for which it is contracted or after its termination otherwise, the real estate on which it was founded ceases to be burdened by such law and the owner receives the building, usually by paying the appropriate fee for her.