Real Estate Law
1. Preparation of sale and purchase agreements, lease, and other agreements
Sale and purchase agreements related to real estate differ from other sale or lease agreements in some aspects; there are a number of elements that should be addressed (and often mandatory to address). Some of the elements are (non-exhaustively):
- The details of the real estate indicated in the land registry
- The date of the transfer of possession
- Removing all encumbrances from the property
- Payment terms of the purchase price
In order to have your credit application successfully processed by the bank, the provisions regarding the right of first refusal, repurchase right, right of purchase or sale, and the loan conditions need to be drafted accurate and professional. In relation to the cost of the sale and purchase agreement, title transfers, and other incurred costs, there is a set of procedures to be followed for determining which party is responsible for which cost(s).
There is no universal template that can be applied to all real estate transactions, as in many cases there are different rules for different types of real estate, such as agricultural lands.
As the above brief summary shows, it is easy to run into complications if the contract is not drafted properly. The safest way is to consult a lawyer at the very beginning of the negotiations, and not just when it becomes clear in the course of the negotiations (or possibly afterwards) that the contract was incorrect on several points.
2. Procedures related to disturbance of possession
In the event that you are unlawfully disturbed or deprived of your possession as a possessor, you have the right to protection of possession.
If the disturbance of possession is related to a real estate, and the possessor initiates the proceeding within one year from the disturbance, the procedure can be requested at the competent mayor’s office based on the location of the real estate; if it exceeds one year, a proceeding can be initiated at the court.
In many cases, possession disturbance procedures are between landlords and tenants. For instance, in a given situation where a lessee is late in paying rent or doesn’t pay at all, the landlord is forced to terminate the lease agreement after a certain grace period; however, the tenant refuses to vacate the property. Our law firm can help rectify the situation at this point. The decision on possession protection becomes immediately enforceable, and there is no room forappeal. First, the lessee is obligated to pay a fine, and if one persists with disturbance activity, one will be forced to leave through police action.
To avoid the above situation, it is advisable to have the lease agreement prepared in a private deed countersigned by a lawyer; hence, rapid and efficient enforcement can take place in
3. Transactions related to agricultural lands
As mentioned above, agricultural lands are a special kind of real estate subject to different regulations than general real estate. Currently, the land acquisition law allows only farmers to purchase and over 1 hectare.
But who qualifies as a farmer? According to the currently applicable law, one who:
- has professional agricultural or forestry expertise or
- has been engaged in agricultural production for at least three years or
- is at least 25% owner of an agricultural producer organization.
Pursuant to the law, both land ownership and land use are subject to approval. In each case, the agricultural administrative authority decides on the approval of the contract. The decision can be subject to judicial review.
According to the latest regulations, contracts can only be submitted to the land registry on security paper, with a lawyer’s countersignature, which has been previously approved by the authority. The average processing time for such transactions is six months.
4. Representation before the land registry
In certain cases, it is advisable to have legal representation before the land registry, and our firm has substantial professional experience and reputation in this area as well.
Our firm provides effective assistance in the precise and detailed preparation and conclusion of sale and purchase and other agreements, and also takes part in the related negotiations. Our representation and service extend to contracts and agreements concluded with banks and financial institutions, ensuring that you will not face any unpleasant surprises later on.
If you need a consultation on any of the aforementioned transactions, feel free to contact us!
