A buyer`s appointment creates a second contract between the buyer and the Nominee. However, this is not a contract for the sale of land, but a transfer of the rights of the purchaser of the sale contract to the candidate. Traditionally, this is a doc lite treaty, as the rights and obligations of the parties are maintained without written agreement on what should happen if one of the parties does not wish to pursue the appointment. This is essentially an assignment of the buyer`s rights to the Nominee, a legal report recognized by the s134 Property Law Act. The consideration for this contract can be found the buyer`s exemption from the obligations arising from the sale contract and the candidate`s assumption of the rights arising from that contract. It is important that the seller does not participate in such an appointment or assignment and that it remains entitled to apply the contract to the buyer in question. The appointment is made to the seller vis-à-vis the supplier, the property must be transferred to the nominee in performance of the seller`s contractual obligations. In order to ensure that the economic beneficiary retains control of the securities, it is necessary to execute an agreement between the nominee and the recipient or economic client, which stipulates that the securities are held in trust by the nominee for the benefit of the owner and that the name and information of the nomine are used in the documentation. An agreement may also contain certain conditions, for example. B the question of whether the candidate, as a registered owner of shares, can exercise any control, for example.

B voting rights. Even if, on paper, the designated shareholder appears to hold the securities, the economic beneficiary remains the rightful owner of the securities and can therefore claim capital gains, dividends or other benefits generated by holding the securities. A designated shareholder is a natural or legal person named in the name of the actual owner, the “effective beneficiary,” through shares or other securities. The candidate is responsible for holding the fiduciary shares or securities and listing the names and indications in all public documents in place of the economic beneficiary. In some States, the use of the word “vested” in the legal provisions relating to stamp duty concessions for nominee-trust supporting documents would indicate that the deed should only be carried out after the conclusion of the sale contract, or even after registration with the Landesamt f-r Grundbesitz.