Marco Buschmann wants to take action against junk real estate transactions. Anyone who purchases a home at a foreclosure auction can benefit from the rent even if they have not paid the price.
Dubious business people are increasingly using this loophole in the law. Justice Minister Buschmann wants to close it now. The current law on compulsory auctions only requires the new owners to pay a so-called security deposit. The prerequisite is that the house or apartment is classified as a problem property.