Publication date: 10.06.2024
Registering a share in Hungary: the key to worry-free property ownership
Hungary is a country with a rich history and culture that is attracting more and more foreign investors and property buyers. However, the process of registering a share or share in common ownership of real estate may seem complicated for those who are encountering the peculiarities of Hungarian legislation for the first time. That's why we've prepared a thorough guide for you to help make the process as clear and stress-free as possible.
Before proceeding with the registration of a share, it is necessary to understand what a “share” is in the context of Hungarian law. A share is a share in the common ownership of real estate, giving the right to use a certain area or premises. Registration of a share is a legal procedure that secures ownership rights to this share.
Checking documentation and collecting necessary documents
The first step is to thoroughly review all documentation associated with the property. This includes sales contracts, floor plans, building permits and other legal documents. It is important to ensure that all information is accurate and up to date.
Registration of legalization of redevelopment of changes
If redevelopment has been carried out in the property or any changes have been made without proper permission, it is necessary to go through the procedure of legitimizing these changes. This may include registration of redevelopment, legalization of a superstructure, extension, or even legalization of the entire building.
Obtaining ownership by acquisitive prescription
If you have already owned real estate for a long period, but do not have legal rights to it, you can use the procedure for acquiring ownership by acquisitive prescription. This will allow you to legally register ownership based on actual possession within the legal period.
Share registration
After you have collected all the necessary documentation and resolved all legal issues, it is time to directly register the share. This process involves submitting an application to the Hungarian Land Registry (Földhivatal), paying the necessary fees and waiting for the case to be processed.
When registering a share, it is important to comply with all the requirements of Hungarian legislation and provide only reliable information. This will help avoid any legal complications in the future.
Obtaining a certificate of ownership
After successful registration of the share, you will receive a certificate of ownership, legally establishing your rights to a share in the common ownership of the property. This document is extremely important because it allows you to freely dispose of your property and protects your rights in case of any disputes.
It should be noted that the process of registering a share in Hungary may vary depending on the specific situation and characteristics of the property. Therefore, it is recommended to contact experienced lawyers or real estate agencies who are knowledgeable about local legislation and can provide professional assistance at every stage.
Registering a share is an important step to ensure safe and secure ownership of real estate in Hungary. By following all the necessary procedures, you will be able to obtain legal confirmation of your rights and enjoy worry-free use of the property.
Below are some important tips to help make the process of registering a share in Hungary as efficient as possible:
1. Carefully check all documentation related to the property before starting the registration process. This will help avoid any unexpected problems or delays.
2. If you discover that illegal changes have been made to the property, do not hesitate to legalize these changes. This may make the registration process much more difficult in the future.
3. If you have already owned real estate for a long time, but do not have legal rights, consider purchasing the property by acquisitive prescription.
4. When submitting an application for registration of a share, be careful and provide only reliable information. Even minor errors can lead to delays or failure.
5. Do not hesitate to seek professional help from lawyers or real estate agencies. Their experience and knowledge of local laws can greatly facilitate the registration process.
By following these tips and diligently following all the necessary steps, you can successfully register your share in Hungary and enjoy all the benefits of owning property in this wonderful country.
In addition, it should be remembered that the legislation on registering a share in Hungary may change over time. Therefore, it is recommended to regularly check that the information and requirements of the registration process are up to date. This will help avoid unforeseen situations and ensure smooth registration of your property rights.
Finally, do not forget about the need for constant legal support. I'm in the process of registering a share. Hiring an experienced lawyer or real estate agency will not only make it easier for you to understand the legal intricacies, but will also ensure that your interests are protected at every stage.
