Building Savings Banks have been sending cancellations to customers for some time, whose home savings contract has been ready for distribution for ten years. The offerers see themselves thereby due to a passage in the civil law book (BGB) in the right. The judges of the district court of Karlsruhe, however, represent a different view. The termination of a home savings contract, the court therefore declared ineffective.
A recent judgment of the district court Karlsruhe gives building savings hope . Although the Bauspar contract terminated by the Bausparkasse Badenia has been ripened for more than ten years , the judges declared the termination ineffective . In the past, the courts mostly followed the view of the building societies in similar legal disputes.
Sticking point is the paragraph 489 of the Civil Code . Thus, a borrower can terminate a loan agreement after ten years. The building societies see themselves in the Ansparphase as a borrower, which gives her the right to cancel, as soon as the Bauspar contract has been ripened for at least ten years.
Court declares termination of the building society savings contract ineffective
In the specific case, a couple resisted the termination of their home savings contract by the Badenia. This existed since 1991 and was ration-ready since 2002. But instead of taking advantage of the loan, the couple continued to save the contract with a 2.5 percent credit premium. In February 2015, they received the notice of termination.
The district court rejects the building society in the judgment of October 9, 2015 (Az. 7 O 126/15), which, inter alia, the German Press Agency, but the right of termination from . According to the judges, they could not invoke either “the collective character of building savings” or paragraph 489 of the BGB. Instead, the Bauspar contract is a unified contract in which the two players – the customer and the provider – use the loan to exchange their roles as lenders and borrowers.
Judgment only small ray of hope for Bausparer
What signal has the ruling of the district court Karlsruhe for building societies and Bauspar, whose contracts were terminated early, has yet to show. Because the Badenia continues to see itself in the law and wants to appeal. Thus, only the next instance will bring “final clarity” , so the consumer center North Rhine-Westphalia opposite the picture. The consumer advocates see the judgment therefore only as “a small ray of hope.”
Cancellation of the home savings contract can be checked
According to media reports, more than 200,000 home savings savers have already been terminated. While now those concerned can hope for ripeness contracts were terminated, it looks rather bleak for the customers who have already fully besprochen their contract . Here, the building societies can make use of their right of termination at any time by observing a six-month notice period.
Due to the still inaccurate legal situation affected building society savers should not accept the termination of their contract, but for example, with the help of the consumer centers to check whether this is legal. In order to avoid the termination, it is also possible to increase the Bauspar sum in order to avoid a possible over-saving.