USEFUL INFORMATION

CURRENT NEWS

1. On April 29, 2012 came into force the provisions of the Act on the Protection of the Rights of a Purchaser of a Dwelling or Detached House. Developer Agreement requires a notarial act, the costs shall be borne by the developer of the half and the buyer. The developer is required to establish a trust account, the deposits and withdrawals are recorded separately for each buyer. The collected money in this account are protected in the event of bankruptcy of the developer.

2.With effect from 5 October 2011, The National Chamber of Civil Law Notaries launched a Notarial Register Of Wills (NORT). Here you can register: a will drawn up in the form of a notarial deed and handwritten testament, if it is kept by the notary. Registration of the will is free and takes place at the request of the person who drew it.

3. On 20 February 2011, an amendment of the Act on Land and Mortgage Register entered into force. It eliminates the distinction between simple and capped mortgages. The mortgage will therefore secure pecuniary debt, including the future one, to a determined amount of money. The construction of the new mortgage has been based on existing solutions of capped mortgage.

4. On 28 January 2010, new act on the amended Law on the protection of the rights of tenants, municipal housing stock and the amendment of the Civil Code came into force. This act introduced the occasional lease agreement of premises for meeting housing needs. This agreement shall be accompanied particularly by a tenant’s statement in the form of a notarial deed in which the tenant has subjected himself to the execution and has undertaken to vacate and return the premises being used under the occasional lease of premises by the date specified in the request to vacate the premises.

5. Since 1 March 2009, the notary public draws up the deed of succession certificate, which has the effect of a final ruling on the determination of inheritance acquisition. Nowadays inheritance can be gain by the deed of succession certificate in the Notary Office or by the judicial procedure.

6. Currently the exemption from inheritance and donation tax cover the acquisition of ownership of property or property rights by the spouse, descendants, ascendants, stepchild, brother, sister, stepfather and stepmother by means of donation, grantor’s instruction, inheritance, bequest, further bequest, testamentary instruction, prescription, free of charge cessation of ownership, compulsory portion of inheritance, unpaid annuity, usufruct and easement. A condition of exemption is to document and report such acquisition to a competent head of the tax office within 6 months from the date of tax liability. In case of the acquisition under a contract signed in the form of a notarial deed, the duty of reporting to the head of the tax office is imposed on the notary.

7. The conclusion of the preliminary agreement in the form of a notarial deed allows the parties to seek the conclusion of the final contract. On the other hand, in the situation when one party avoids the conclusion of the final agreement, if the preliminary agreement was concluded in a standard written form, there is only the possibility to claim damages. In practice the most often act concluded by the parties is preliminary sale agreement.

8. The notary shall draw up a deed, if it is required by law or if such is the will of the parties. For example, the form of a notarial deed is required for any legal actions relating to conveyancing of immovable property or to encumbering it with a limited real property right (e.g., mortgage, easement, right of usufruct).