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homestead property

German translation: private Wohnstätte


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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:homestead property
German translation:private Wohnstätte
Entered by: Thomas Bollmann
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09:01 Mar 3, 2006
English to German translations [PRO]
Law/Patents - Real Estate
English term or phrase: homestead property
Aus einer "warranty deed":

The subject property is not now nor has it ever been the homestead property nor contiguous to the homesteadproperty of the grantor herein.

Was ist hier die genaue Bedeutung von homestead property?

Vielen Dank im Voraus!
Thomas Bollmann
Germany
Local time: 03:40
private Wohnstätte
Explanation:
Denke nicht, dass hier der immobilientechnische Fachbegriff gefragt ist. Es soll in diesem Satz nur die Tatsache betont werden, dass jemand das Gebäude nicht zu privaten Wohnzwecken genutzt hat.

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Note added at 44 mins (2006-03-03 09:45:24 GMT)
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(Privates) "Wohneigentum" geht natürlich im selben Sinne auch.
Das den Vertragsklauseln unterliegende bzw. im Vertrag benannte ("subject") Gebäude ist also weder privates Wohneigentum/private Wohnstätte des Kredit-/Darlehensgebers (??) noch grenzt es unmittelbar an dieses an ("contiguous to").
Selected response from:

Ivo Lang
Local time: 02:40
Grading comment
Vielen Dank für dieHilfe!!
3 KudoZ points were awarded for this answer



Summary of answers provided
4 +2private Wohnstätte
Ivo Lang
3Well, a bit more...
jccantrell
3EigenheimEdithK


  

Answers


11 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Eigenheim


Explanation:
Eigenheimgrundstück

Schulte Lee Paul
Wörterbuch Immobilienwirtschaft

EdithK
Local time: 03:40
Works in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 19
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37 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
private Wohnstätte


Explanation:
Denke nicht, dass hier der immobilientechnische Fachbegriff gefragt ist. Es soll in diesem Satz nur die Tatsache betont werden, dass jemand das Gebäude nicht zu privaten Wohnzwecken genutzt hat.

--------------------------------------------------
Note added at 44 mins (2006-03-03 09:45:24 GMT)
--------------------------------------------------

(Privates) "Wohneigentum" geht natürlich im selben Sinne auch.
Das den Vertragsklauseln unterliegende bzw. im Vertrag benannte ("subject") Gebäude ist also weder privates Wohneigentum/private Wohnstätte des Kredit-/Darlehensgebers (??) noch grenzt es unmittelbar an dieses an ("contiguous to").

Ivo Lang
Local time: 02:40
Native speaker of: Native in GermanGerman
PRO pts in category: 68
Grading comment
Vielen Dank für dieHilfe!!

Peer comments on this answer (and responses from the answerer)
agree  Karin Klindworth
1 hr

agree  Ingeborg Gowans
2 hrs
Login to enter a peer comment (or grade)

6 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Well, a bit more...


Explanation:
In the USA, you may declare your property to be a 'homestead.' Depending on the state (they are ALL different, but homesteads are more prevalent here in the West), it must be your primary residence or your primary farm. Declaring your property a homestead gets income tax benefits but has ONE overriding benefit: It cannot be seized to satisfy your creditors if you file for bankruptcy.

With this sort of provision, it is no wonder that a bank wants a statement like that before lending you money on the property. Otherwise, you declare bankruptcy, and the house and land are yours, free and clear.

Underhanded, but people have been known to use this tactic.

jccantrell
Local time: 18:40
Native speaker of: Native in EnglishEnglish
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