HOW TO BUY PROPERTY What are the risks of property acquisition in Czech Republic?
Here are some factors as published by CEREAN (Central European Real Estate Associations Network) in their Czech Republic section: ‘The Czech legal code gives preference to the real owner of a property instead of that which is written into the public records (in the cadastre of real estate). An extract from the cadastre of real estate does not always reliably reflect the ownership rights to real estate. It can happen that a seller can bring forth documentation of ownership of a lot or piece of land from the cadastre of real estate, an investor buys the land, and the cadastral office registers him as the owner. A few years later, though, legal proceedings are begun to determine the actual ownership of the land, and a court decides that the owner of the land is someone else.’ ‘An extract from the cadastre of real estate is not, therefore, sufficient documentation for closing a contract. The results of privatization and restitution of real estate do not always correspond to the actual, fac
Related Questions
- An SRO has ongoing costs and I am an EU citizen. Can I simply buy property or conduct business in the Czech Republic as an individual - without establishing an SRO?
- I know I can only buy property in the Czech Republic by setting up a property holding vehicle or by acquiring a Czech s.r.o but can such a company get a mortgage?
- HOW TO BUY PROPERTY Can a foreign citizen buy property in the Czech Republic?
