REAL ESTATE PROPERTY
The way you are allowed to achieve property rights on real estates in Bulgaria
Pursuant to the Bulgarian legislation foreigners are not allowed to achieve property right on terrains. Only Bulgarian citizens and trade companies are entitled to that right. Therefore the Law provides an option by which a person who is not a Bulgarian citizen is allowed to achieve a property on terrains.
I. SUBJECT OF DEALS WITH REAL ESTATES COULD BE AS FOLLOWS: TERRAINS, HOUSES AND APPARTMENTS.
II. WHAT IS THE INFORMATION NEEDED BEFORE THE PURCHASING O F REAL ESTATES:
1. You have to own a trade company by the time you took the decision for a purchase of terrains.
2. Provided that you have decided to purchase an apartment or a house without their adjacent building terrains you are not asked for a registration of the trade company
3. Concerning the real estate – subject of interest
3.1. Whether the real estate– subject of interest is “free” of burdens – subject of ulterior lawsuits, injunctions, mortgages
3.2. What is the number of owners of that real estate?
3.3. Concerning the terrains of the real estate - subject of interest – whether it is in regulation (only then buildings are allowed), whether the real estate- subject of interest is located on terrains suitable (subsidences)
3.4. Concerning houses, country houses, apartments – does the real estate – suitable has been granted an authorization for building - achieved completion of the construction...
3.5. Necessary documents – certificate testifying the property right – notarial act, voluntary sharing agreement, Court verdict, document certifying the location of the real estate – plot sketch, certificate for location, document for a fiscal assessment of the real estate, an income – tax form, identity papers of the purchaser and the seller.
III. THE DEALS:
1. The deals have to be concluded at the presence of a special body – notary who has to perform the formalities certifying the declaration of intention volition of the Parties to the contract and verifies the availability as well as the authenticity of the submitted documents under item 3.5.
Lawyer DANEV provides to its customers a complete range of legal services – collaboration at the registration of trade companies, verification of the statute of the real estate, preparation of the necessary documents for the deal of purchase and sale, sale by contract certified at the notary’s office .