29. January 2018 / Mag. Markus PEIER

If the insured item is sold, the insurance contract is first transferred to the purchaser of the item; However, both the insurer and the purchaser of the item are entitled to a right of termination on the occasion of the sale of the insured item.

A sale of the insured object within the meaning of the Insurance Contracts Act is if movable or immovable property is sold by way of individual succession.

Buying a house or land: The sale of real estate (e. g. a detached house or an undeveloped piece of land) is also covered by this provision, so that the purchaser of the property has the right to terminate the insurance contract within 30 days of the notification of the land register order authorising the incorporation of his right of ownership. .

Tip: The existing insurance policy should be carefully checked by the purchaser of the property. Should the purchaser decide against this insurance, it must not be forgotten that it should be terminated in good time.

Businesses: According to the jurisprudence of the OGH, there is no sale when the shareholders of a limited liability company change, because the identity of the owner of the item, namely the GmbH, remains unchanged.

The Supreme Court has now decided that in the case of an insured GmbH & Co KG, a change of all limited partners and in the case of the only complementary partner (the GmbH) a change of all partners does not directly or analogously constitute a case of sale of the insured object within the meaning of the Insurance Contract Act, since this does not result in a change in the person of the owner (the limited partnership).

Decision of the OGH: 7 Ob 74/17 h from 21. 9. 2017.