Withdrawal loan deadline
Right to withdrawal loan term
Any right of withdrawal has expired due to the amendment. The BGH affirms the right of withdrawal, which ends only at the end of 21.06.2016.
The statutory right of withdrawal for loan contracts concluded before June 11, 2010, the legislature by the law of Article 229 38 para. 3 sentence 1 EGBGB (Introductory Act to the Civil Code) on 21 June 2016 expired. Insofar as the so-called “unlimited right of revocation” according to 495, 355 para. 2, 3 BGB old version applies to these loan agreements, this right of revocation had to be exercised until the end of 21 June 2016.
However, some regional courts have interpreted Article 229 38 (3) sentence 1 EGBGB as meaning that the right of withdrawal for these “old contracts” already ended at the end of June 2016. According to the Federal Constitutional Law, the BGH has stated that the legislator has not revoked the right of revocation for loan agreements concluded before 11 June 2011, for which there is still a right of revocation under §§ 495, 355 BGB aF until 21 June 2016.
Annulment of the loan agreement
He contradicted, among other things, opinions in the literature, with which some regional courts had persistently tried to reject revocation complaints, with which only on 21.06.2016 the annulment of the loan agreement was explained. This also applies insofar as the Court of Appeal understood that a right of withdrawal under this provision could be exercised until the end of the period of 23 May 2016, whereby a timely dispatch by the end of the period of 22 December 2016 to meet the deadline was sufficient (355 para. 1 sentence 2 half sentence 2 BGB in the version valid until 31 December 2010).
The wording of the provision (“three months after 22 May 2016”) and a systematic summary with Article 229 38 (3) sentence 2 of the Introductory Act to the Civil Code, which decides the expiry of the date specified therein, as well as the legal history.
If the Federal Law Gazette I p. 396 of 23 May 2016 on 23 May 2016, citing 187 (2) sentence 1 BGB, is otherwise represented at 0.00 am, the interpretation of Article 229 § 38 (3) sentence 1 of the Introductory Act shall be excluded into the BGB on the basis of the above interpretation criteria this out.
Credit agreements concluded after June 11, 2010 are not affected by this exclusion provision. A right of withdrawal can still exist here, if there are starting points. The cancellation policy, especially for loan agreements, has been revised several times in recent years.