Declaration Of Assets And Liabilities for Germany

Declaration Of Assets And Liabilities Template for Germany

A Declaration of Assets and Liabilities under German law (Vermögensauskunft) is a formal document that provides a comprehensive overview of an individual's or entity's financial position. This legally binding document, governed by German civil and financial regulations, requires detailed disclosure of all assets, including real estate, financial holdings, and personal property, as well as all liabilities and financial obligations. The declaration must comply with German legal requirements, including specific formatting and content requirements under the German Civil Code (BGB) and relevant financial regulations, and may need notarization depending on its intended use.

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What is a Declaration Of Assets And Liabilities?

The Declaration of Assets and Liabilities is a crucial document in German legal and financial practice, typically required in various situations such as loan applications, court proceedings, insolvency cases, or significant financial transactions. This declaration provides a complete snapshot of the declarant's financial position, including all assets (movable and immovable property, financial assets, business interests) and liabilities (debts, mortgages, other financial obligations). Under German law, this document carries significant legal weight and must be prepared with utmost accuracy and honesty, as false declarations can lead to serious legal consequences. The document is particularly important in banking relationships, insolvency proceedings, and situations requiring financial transparency under German jurisdiction.

What sections should be included in a Declaration Of Assets And Liabilities?

1. Personal Information: Declarant's full legal name, address, and identification details as required under German law

2. Purpose of Declaration: Statement specifying the purpose and context of the declaration (e.g., loan application, court proceedings, etc.)

3. Declaration Statement: Formal statement confirming the truthfulness and completeness of the declaration

4. Real Estate Assets: Details of all owned real estate properties, including location, market value, and ownership percentage

5. Financial Assets: Bank accounts, investments, securities, and cash holdings

6. Personal Property: Valuable personal possessions including vehicles, jewelry, art, etc.

7. Current Liabilities: All current debts, loans, mortgages, and payment obligations

8. Regular Income: Sources and amounts of regular income including employment, investments, and other sources

9. Regular Financial Obligations: Recurring payments and financial commitments

10. Verification and Signature: Legal verification statement and signature block compliant with German law

What sections are optional to include in a Declaration Of Assets And Liabilities?

1. Business Interests: Section for declaring ownership in businesses or commercial enterprises - required if declarant owns business interests

2. Foreign Assets: Declaration of assets held outside Germany - required if applicable

3. Contingent Liabilities: Potential future obligations such as guarantees or pending legal claims - included if relevant

4. Trust Interests: Details of any trust relationships where declarant is trustee or beneficiary - required if applicable

5. Recent Asset Transfers: Information about significant assets transferred within relevant period - included if required by specific circumstances

6. Pension and Insurance: Details of pension rights and insurance policies with surrender values - optional based on declaration purpose

What schedules should be included in a Declaration Of Assets And Liabilities?

1. Schedule A - Real Estate Details: Detailed listing of real estate properties including title information and encumbrances

2. Schedule B - Bank Account Listings: Comprehensive list of all bank accounts with current balances

3. Schedule C - Investment Portfolio: Detailed breakdown of investment holdings

4. Schedule D - Vehicle Registration Documents: Copies of vehicle registration papers and valuations

5. Schedule E - Debt Documentation: Copies of loan agreements and current liability statements

6. Appendix 1 - Supporting Documents: Copies of relevant property valuations, bank statements, and other supporting documentation

7. Appendix 2 - Tax Returns: Recent tax returns if required for verification purposes

8. Appendix 3 - Business Valuations: Professional valuations of business interests where applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Germany

Publisher

Genie AI

Document Type

Declaration Form

Cost

Free to use
Relevant legal definitions
Relevant Industries

Banking & Financial Services

Legal Services

Insurance

Real Estate

Investment Management

Public Sector

Insolvency & Restructuring

Tax Advisory

Wealth Management

Corporate Finance

Relevant Teams

Legal

Credit Risk

Compliance

Wealth Management

Corporate Banking

Private Banking

Financial Advisory

Loan Administration

Risk Management

Document Management

Client Relations

Business Development

Relevant Roles

Legal Counsel

Bankruptcy Attorney

Financial Advisor

Loan Officer

Credit Risk Manager

Wealth Manager

Insolvency Practitioner

Tax Consultant

Compliance Officer

Business Development Manager

Account Manager

Private Banking Advisor

Corporate Finance Manager

Legal Administrator

Risk Assessment Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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