Ordinance of the High Court on Land Register Management concerning Corporation Partial Rights

1 The partial rights of members of corporations shall be entered into a

special register to be kept by the Land Registry Office at the seat of the corporation

(Supplementary Law of 5 March 1916 to

The register of corporation partial rights forms a component of the land register. The entries in this register have the same effects for the corporation partial rights as the entries in the land register (basic register).

1 The register is to be prepared according to a uniform form.

2 It shall contain

a. Name and registered office of the corporation,

b. a reference to the entry of the corporation's properties in the land

register (Grundbuch) and the total number of whole partial rights,

c. the names of the holders of the partial rights with a reference to the

last relevant protocol entry,

d. the pages necessary for presenting the legal relationships concerning

the partial rights (cf. § 4).

Each corporate member receives a double page in the register, on which the following are entered in specific sections

a. the acquisition of partial rights (changes of ownership),

b. the pledges with which the individual partial rights are encumbered,

c. other legal relationships (usufruct, pre-emptive right, attachment,

bankruptcy, etc.).

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252.1 O on Land Register Management concerning Corporate Partial Rights

In the land register (basic protocol), entries concerning the ownership of corporation properties should refer to the existence of partial rights (e.g., "Forest Corporation X. in Z., corporation with 120 partial rights of the members, see special directory p. . . .").

The creation of the register of corporation co-ownership rights is based on the existing entries in the land register and a membership list to be submitted by the corporation's board to the land registry office. If the existing entries deviate from the latter, the land registry office must request the necessary proofs.

1. The partial rights as well as the encumbrances resting upon them (pledge rights etc.) are to be transferred into the register ex officio.

2. In the land register (land record), a note of this transfer, with reference to the entry in the register, is to be made.

For the conditions of entry and the amendment or deletion of an entry, as well as for the form of entry in the Register of Corporate Rights and the issuance of mortgage certificates and other documents concerning corporate rights, the provisions applicable to land registration, such as the Federal Land Registry Ordinance of February 22, 19106 and the Ordinance of the High Court concerning the Management of Land Registry Offices and the Introduction of the Federal Land Registry (Cantonal Land Registry Ordinance) of March 26, 19585, shall apply mutatis mutandis.

If an entitled person sells one of several partial rights or a fraction of a partial right, the change must be entered on the seller's sheet as "Departure" and on the acquirer's sheet as "Accession", and the new balance of rights must be indicated in the corresponding column on both sheets. If the acquirer is not yet a member of the corporation, a new sheet is opened.

When a partial right is pledged together with real estate, reference shall be made in the "Remarks" column of the register to the co-pledged real estate and in the Land Register (Grundprotokoll) to the co-pledged partial right.

The names of the corporation members and all changes thereto must be entered in the owners' register in accordance with the provisions of Art. 109 of the Land Register Ordinance.

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O on Land Register Management concerning Corporation Partial Rights 252.1

The provisions of the Notary Act of June 9, 19853 and

the Ordinance of the Cantonal Council of November 7, 1988 concerning Notary

and Land Registry Fees apply to the maintenance of the Register

of Corporation Share Rights in the same way as to

the Land Register.

The registers of corporation shares of a land registry district or even individual political municipalities must be unified in one volume. This volume must be provided with page numbers and signed by the land registry administrator on the title page, stating the date of the creation (opening) of the register.

1 OS 30, 331 and GS II, 435.

2 LS 230.

3 LS 242.

4 Today: Ordinance on Notary Fees (NotGebV) of March 9, 2009 (LS 243).

5 LS 252.

6 SR 211.432.1. Today: Land Register Ordinance (GBV) of September 23, 2011.

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of the Introductory Act to the Swiss Civil Code)2.

2 The register shall contain all legal transactions concerning the acquisition

and pledging of partial rights as well as the creation of other real

rights in respect of the same.

3 If there are doubts as to whether a corporation has partial rights,

the High Court shall decide.