Property is distressed when the income generated by such property is no longer sufficient to repay its external financing. An example is the bank…
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Ownership in 3D – The new building right
The new building right (“opstalrecht”/“droit de superficie”), incorporated in Book 3 “Goods” of the new Belgian Civil Code, will as of 1 September 2021 create additional legal perspectives for the real estate sector, particularly for complex real estate projects. The division into volumes will be more clearly regulated and, under certain conditions, the building right can even be established in perpetuity.
This short read highlights the main changes.