The purchase contract has been notarised and a priority notice (Vormerkung) has been entered for you. Before the transfer of ownership you learn of the seller’s insolvency. Neither the blanket statement “all is lost” nor “with a Vormerkung everything is guaranteed” helps now. What matters are your actual level of security and the scope of the secured claim.
Secure the chronological position from the documents
Our editorial recommendation: Gather the contract, the entry notification, the current land register status, proof of payments and the available court procedure information. Record the actual dates. A mere application for entry, an entry already made and the subsequent acquisition of ownership must not be treated as the same stage in this chronology.
Pass on the status of the contractual advice. It must clarify which type of procedure is involved and which contact person is responsible for it. A notice of payment difficulties alone is not treated here as proven opening of insolvency proceedings.
Check the special rule for the secured claim
§106 Abs. 1 InsO provides, for the registered Vormerkung described there, that the creditor may demand satisfaction for his secured claim from the insolvent estate. The rule also takes into account additional obligations of the debtor that have not yet been fully performed. [VORMERKUNG-INSOLVENZ]
This creates an independent line of inquiry for your secured acquisition claim. It must be distinguished from the general option under §103 in the case of mutually not fully performed reciprocal contracts. [WAHLRECHT] Have it explained to you which provision covers your specific claim. This article neither confirms the effectiveness of your entry nor excludes avoidance actions or other special issues.
Distinguish acquisition of ownership from further performance
Perhaps a repair, vacating or subsequent delivery was also agreed. Record these commitments separately. That a special rule may apply to the claim secured by the Vormerkung does not mean blanket protection for all monetary, construction and delivery claims.
Request an allocation: which claim is covered by which security, which counter-performance is still outstanding and which further claim requires its own insolvency-law treatment? The article does not give any general ranking or dividend promise for that.
Hypothetical case: the kitchen had also been promised
A buyer holds a registered Vormerkung. In addition, a new kitchen was to be installed before handover. After the opening of proceedings she assumes that either her entire contract will be performed without further ado or her entire acquisition will fail.
Instead, she has the secured claim to transfer ownership and the additional installation service examined separately. Outstanding payments are considered in the same consultation. The example does not decide any concrete claim for performance, but shows why a single blanket statement about the whole contract is insufficient.
Coordinate the next enforcement step with professionals
Do not treat changed payment instructions or alleged new responsibilities as binding without verification. Clarify by reliable contact channels which steps are envisaged for your case. Nor should a payment be unilaterally changed solely because of the insolvency notice without advice.
The result of the examination must clearly allocate the secured claim, the remaining counter-performance, additional outstanding claims and the intended enforcement. Only this concrete position informs your further decisions about payment, collection and simultaneously needed housing.