When can I take out a loan

If you want to take out a loan, you first have to meet a number of requirements laid down by law and by the banks: I think there are a few important things missing! Together, you applied for the loan so that your credit rating has increased and you have an interest rate advantage. Now, of course, the problem is whether you can get another loan. It is not about Greece. If I didn’t have it in writing (autographed letters), I wouldn’t believe it either.

If a loan has tax deductibility.

If a loan has tax deductibility.

If you have taken out a loan from a house bank, you have to pay interest regularly. If this is not a personal loan, but a loan to promote your business or property, then the cost of the loan may be tax deductible. You get frustrated when you have to pay interest on a loan you have concluded each month for each individual loan.

It is all the more annoying for you if you do not deduct these tax expenses and can at least save income tax at the tax office. You should therefore ensure that you know in advance which purchase you are taking out a loan for. If you need the capital for an investment in a professional activity, you can usually deduct the fees.

In this case, you can deduct interest on loans from your income tax return if they arise as part of a business investment such as a workstation or other work equipment. As an entrepreneur, you also have the chance to deduct investments and the associated costs for loans from your taxes. As a rule, a loan is deductible here.

If you, as a landowner, have income from renting and leasing real estate, you can also deduct your rental costs here, as it were in the course of your rental business, for tax purposes for investments in the property. The loan could include the purchase and renovation of the rented building. As an employee, you have the option of deducting the credit costs for a second house that you bought from a job in another town.

Investors have the option to deduct a percentage loss on shares acquired through loans.

Profits and equalization of profits

Profits and equalization of profits

If the spouses have not reached a marital agreement, they live in the statutory marital property rights of the non-profit association. The profits result from the distinction between the initial assets (assets at the time of marriage) and the final assets (assets at the time of service of the divorce suit). Income equalization is only limited to the actual asset: the spouse who is subject to the equalization obligation does not have to assume any liabilities to fulfill his or her compensation obligation.

If there is no separation of assets due to a marriage contract, the spouses live in the legal form of a non-profit organization! When and under what conditions is compensation for profit excluded? Limitation of the right to compensation on the actual assets! In which case can the dividend payment be claimed before the divorce! For many couples, a marriage contract is concluded before, during or after the marriage in order to divide up the capital after the divorce.

In principle, the partners can agree on what they want in this regard: there is contractual freedom. Marriage contracts often determine which spouse can retain which assets after the divorce. However, married couples usually agree on the separation of property: separation of property does not lead to a mixture of the corresponding assets of the spouses. Only joint purchases, such as household credit or credit balances in the joint account, should then be halved.

If the spouses have not concluded a marriage contract that regulates the distribution of the marriage credit, it is usually the case that the spouses earn a common profit. This means that after the divorce, the profit should be distributed evenly. It is often erroneously assumed that each spouse has the right to half of the total assets after the separation.

However, only the increase in property within the duration of the marital union counts as a profit: the capital brought into the marriage by the spouses is not included in the profit and therefore cannot be compensated. A “negative gain” can of course also arise during the marriage if the spouses raise more claims than assets.

In this case, too, the claims must be divided equally. The initial and final assets of both spouses must be listed separately for the calculation of train wins. “The founding assets are those that belong to a spouse after deductibility of the obligations when the marriage law comes into force” (§ 1374 BGB). The so-called “net assets” is to be accounted for as the opening balance:

Credit and liabilities are to be netted.

Credit and liabilities are to be netted.

If there is then a positive amount, this is to be used as the initial value. The so-called “private purchase” must be added to the acquisition value. These are personal contributions that can only be made by a third party – often a close family member – to a single partner. Adding these assets to a spouse’s initial values ​​ensures that this personal benefit remains with the spouse.

If the spouse is unable to prove his or her start-up assets, the position is not taken into account or the amount is set to 0? fixed (see § 1374 (3) BGB). “Final property is the property of a spouse after deducting the obligations at the end of the matrimonial property regime. Final assets are the assets that are available to the spouse at the time of application.

Credit and liabilities must also be netted here. Half of the common property is credited to each spouse. Here, too, the items that are added to the initial assets as a privileged acquisition should be used. An example: In 2006 the spouse had a house with a total value of 200,000? inherited. At the end of the marriage, the building is now worth $ 250,000.

If there are negative values ​​for the profit, is a monetary amount of 0? to use. If a spouse has a bigger win, he has to compensate for half the extra win. Initial capital: At the time of the marriage, the man had a car worth 3500 USD. He also had a small life insurance policy with a net present value of 6000?

He also owned his own household with a total value of 4000?. He can no longer prove other assets. By buying the BaföG he had liabilities of 2000? This results in the following initial equipment: Assets: Total: Liabilities: Total: Total: Total initial assets: Final assets: The man has sold his car and household appliance.

Together do the two have a loan of 200,000? to finance a house. The loan is still open at 280,000 USD. The total value of the house is $ 190,000. In addition, there is a common fortune in the order of $140,000 (cars, household items, bank balances, etc.).

This results in the following final assets: Assets (assets): Total: Liabilities (liabilities): Total: Total final assets: Profit from man: Initial assets: At this point in time, the wife had a few pieces of furniture with a total value of $ 3,200. Loan liabilities exist in the order of $ 100,000. You cannot prove any other assets. Her family members died during the marriage and she took over a house with a total value of 150,000 and a share capital with a total value of 25,000 USD.

This results in the following initial equipment: assets (credit): total: liabilities (debts): total: opening balance: ending balance: ending balance: The lady has sold her furniture and repaid her loan. The inherited residential building is now available for 250,000. On the other hand, the shares slipped into the basement and the share capital has a total value of only $ 4000.

Together do the two have a loan of 200,000? to finance a house. The loan is still open at 280,000 USD. The total value of the house is $ 190,000. In addition, there is a common fortune in the order of $ 140,000 (cars, household items, bank balances, etc.).

Here you can find out when the profit compensation is excluded! The remuneration of the profit is limited to property, plant and equipment (see 1378 (2) sentence 1, 1384 BGB). The wife, who is subject to compensation, does not have to take out a loan to compensate for the profit. As a rule, the restriction always occurs when a profit has been made from the repayment of the debt.

Example: The man gets into debt with -200. 000? Marriage. He paid his debts during his marriage and had an excess of 20,000? earned. However, because he actually only has an amount of $ 2,000 at his disposal, he can only compensate the spouse’s right to profit with $ 2,000.

A partner often refuses to pay the profit and does not want to participate in the allocation of capital. The other spouse can also stipulate that the individual positions are assessed by an expert or that the property list is drawn up by an independent body, such as a legal officer. The spouse is only entitled to assert that the other partner makes the information credible by providing documents such as bank statements, certificates, purchase contracts, etc., if it is absolutely necessary to determine the profit sharing; in principle it is sufficient that the other partner confirms the correctness instead of swearing an oath.

If the spouse refuses to provide the information or the reason for it or does not pay despite a call for payment, then only a court can be called in this context. Even before the divorce, profit sharing can be requested (see § 1385 BGB). This applies in particular if the spouses live separately for more than 3 years or if there are serious fears that the partner who is liable to compensation will waste his existing final assets or set aside to avoid an obligation to pay compensation.

Are you overwhelmed with a claim for damages or do you even suspect that the other spouse wants to “cheat” you? We would like to point out that despite careful research, no guarantee can be given for the accuracy or up-to-dateness of the content etc. of the information.

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