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Legal Check of Property in Bulgaria
Acquisition of land in Bulgaria
Our law office D.Vladimirov & Partners provide a professional legal services to property buyers in Bulgaria. As buyer of property If you would like to buy an apartment in Bulgaria, you need to purchase also an ideal parts of the building right upon the land.
We suggesting you to check this ideal parts of the ownership right and also the land plot for lack of encombrances Usually the construction companies would like to sell this ideal parts of the land plot, because they donít need it, but this plot of land belong to the owners of the each living unit in the building, which means, everybody, who is owner of apartments in the bulding ,should have some ideal parts of the land plot, transfered on the Notary public without additional payment.
If you would like to acquire the ideal parts of the land plot, on which your apartment is built, and you have the agreement of the owner of the land plot, we are ready to support you or your company or preparation of the relevant documents and representation at the Notary transfer.
The process of property acquisition and disposal can be lengthy and complicated and we advise our clients on the significant commercial implications that might arise.
Real Estate and Construction
We advise on and draft development agreements, provide legal assistance in construction, planning and site disposal matters, fund-raising arrangements, freehold transfers and any associated due diligence reports.
We assist in the acquisition of real estate in Bulgaria and in the subsequent implementation of investment projects in the field of hotel management and tourism, golf courses, office and commercial buildings, industrial construction works, and renewable energy projects.
Please note we are chariging you for real costs and legal fees, state fees and the tax for transferring of ownership). If a travelling out of Sofia is needed, this would be calculated additionally.
Property legal check-up
Working with many international clients & corporate, our law office D.Vladimirov & partners has created a stable legal work policy for checking of the legal status of your property in Bulgaria. Acting as a qualified property lawyers in Bulgaria, we performing the legal check services for our clients, depending on complexity of every case in the Bulgarian property register. We check in the Property Register the status of the certain property and report to our clients the final results and warnings, if there are any.
This information would allow you to check whether there are any encumbrances upon your property, for which you do not know, for example: a mortgage for a loan, which is already repaid, interdiction, imposed by the tax authorities for unpaid tax obligations, or any other rights of third persons.
Bulgarian land investment no longer requires company !!!
As a result of the contractual obligations, undertaken by the Bulgarian government in relation to Bulgariaís membership in the European Union, an important part of the Bulgarian law was recently changed. From 1 January 2012 citizens of the EU are no longer prohibited to purchase Bulgarian land, which is in regulation.
Until this date they had to set up a Bulgarian company and purchase land through the established legal entity, as according to the old law only Bulgarian individuals and companies had the right to acquire Bulgarian land. This led to many unfavourable consequences for foreign investors, such as paying additionally to a lawyer to establish a Bulgarian company, appointing an accountant for the relevant services and making other expenses, related to having and maintaining a company.
Legal Research property in Bulgaria
To sum up, from 1 January 2012 establishing a Bulgarian company is no longer necessary for EU citizens in order to buy regulated Bulgarian land, as they can legally acquire it as individuals. The prohibition continues to be in force until 2014 for land, which is out of regulation though (agricultural land, forests, etc.). If you are from the foreign investors, who have established a company only for the purpose of acquiring properties in Bulgaria, you can now transfer the properties to yourself as individual and close the company in order to cut the costs, related to having and maintaining a company.
Our law office D.Vladimirov & partners works with international clients for legal representation at a Property Acquisition or sale of property after checking in the Property register. Sometimes, if nessesert we are ravelling to the property or appropriate Notary public, just to represent you on the deal before the Notarty public, where you property is located.
Find independent legal advice
Numerous property owners are now experiencing problems with their property because they did not seek independent legal advice and instead used lawyers and translators which were recommended by the estate agent or developer and in some cases were acting for both parties. Appoint a lawyer who is experienced in property conveyance and fully independent of anyone else involved in the transaction, eg the estate agent, vendor or developer.
If you need our legal assitance, do not hesitate to contact us immediately ! Our law firm D. Vladimirov & Partners is here for you to support your business to start well and seamlessly, so that you will be able to take advantage of all the opportunities and options our country is giving you.