Partnership Organized Under the Law of Civil Code (GbR)
Similar to an open trading company (oHG), the shareholders of a partnership organized under the law of civil code (GbR) are also principally liable for the liabilities of the company, with their private assets. The founding of a civil law company (GbR) is therefore particularly suitable in the area of private asset management. For example, if the parents and children or unmarried couples want to jointly acquire property, the partnership organized under the law of civil code (GbR) is a suitable institute, to regulate who is to manage the property, under which conditions the property can be sold, how it can be inherited and which compensation is to be paid, if a co-owner wants to leave the collective. As notaries, we can advise you on all of these questions. Furthermore, the establishment of a partnership organized under the law of civil code (GbR) comes into consideration for the merger of freelancers (doctors, etc.).
The foundation of a partnership organized under the law of civil code (GbR) and the enacting of a partnership agreement do not require a notarial certification, however, if property in the form of a partnership organized under the law of civil code (GbR) is to be acquired, it may be required to authenticate the partnership agreement and it should, in any case, be notarized, to verify the representation relationships of the company to the land registry office.