Real Estate in Kenya: Buying/Selling Laws and Procedures

However, a process that should be straightforward as it is guided by comprehensive land and property laws, buying and selling real estate in Kenya is far from straightforward. Instead, buyers have to deal with slow paperwork processes marred by corruption, where buyers have to meet the right people or offer bribes to speed things up.

All hope is not lost, with the extensive implementation of new reforms such as the new land reform, the buying and selling of property in Kenya will improve and existing laws will be applied to the letter.

To ensure that you comply with Kenyan laws governing real estate transactions and to avoid pitfalls such as being scammed, it is recommended that you seek legal representation when buying or selling property in the country.

Property registration

In Kenya, land is registered under:

  • The Land Law

  • National Land Commission

  • Land Registry Law; offering registration in all districts

Land Control Law

  • Formulated under the Land Control Act, land control boards are prohibited by law from giving consent to transfer agricultural land to companies and individuals who are not eligible to own it.

Foreign and local real estate investment in Kenya: the process

Under the new Constitution, non-citizens and companies with non-citizen shareholders are prohibited from owning freehold property. The law allows them to own properties on lease for a period not exceeding 99 years.

  • Both local and foreign real estate investors are allowed by law to purchase residential and commercial real estate located in towns and municipalities without any restrictions, provided they adhere to established legal procedures.

  • However, foreigners and private companies with shareholders who are not Kenyan citizens are prohibited by law from purchasing agricultural land, except where such purchase is exempted by the provisions of the Land Control Act, SEC 24.

Property ID

Once an investor has searched for and identified a suitable property, they should endeavor to visit and evaluate the real estate to ensure that:

  • actually exists

  • It meets your needs and expectations, such as physical location and access to infrastructure.

  • Its conditions are favorable and it is worth investing

Note: a viewing fee applies when viewing properties for sale. Fees vary by type and size.

Carrying out the necessary search

An attorney or the buyer must then obtain copies of the seller’s National Identity Card and property title and conduct the required searches at the land office and the Persons Registry Office.

  • This step is very important to verify that said owner is truly the owner of the property.

  • To conduct the search, you are required by law to submit a copy of the property title and a search request form and present them at the registry.

  • The charges for the search of requirements are Ksh500.

  • The cadastre obtains the results in 2-3 days.

Search results should show

  • The registered owner of the property

  • property size

  • Any pending matters registered against the property, such as court orders, warnings and prohibitions, etc.

In addition, it is important:

  • Verify if the property is illegally or irregularly acquired as contained in the Ndung’u Land Report submitted by the Commission of Inquiry on Illegal and Irregular Assigned Lands.

  • Provide a registered surveyor not only to set the markers on the property, but also to check the land at the Survey Office.

Negotiation and sale agreement

Satisfactory preliminary checks must be followed by negotiations on the terms of sale between the buyer and the seller with the presence of their respective legal teams.

  • Negotiations involve discussions about the price of the property and payment terms.

  • 10% of the total amount is paid in advance as a down payment and the balance is due upon completion of the sales transaction.

  • Agreement of terms by both parties establishes the basis for the preparation of a sales agreement by the seller’s attorney, who then seeks the seller’s approval.

A sales contract contains

  • Terms of sale

  • purchase price

  • Payment conditions

  • Payment Completion Period

  • Termination documents that facilitate the transfer of ownership

  • The law firm’s terms of sale are often included

When both parties agree to the sales agreement, they execute it with the buyer’s signature first and then the seller’s. Finally the money changes hands.

  • A stamp duty of Ksh 200 is then obtained from the land office, as required by law, to ensure that, in the event of a dispute, the signed documents are admissible in court.

Transfer of ownership of property and stamp duty

Once the buyer’s attorney has prepared the transfer, both parties approve and sign.

  1. The seller is responsible for acquiring all the necessary documents to register the property to the buyer.

  2. The buyer is then responsible for stamp duty payable to the Kenya Revenue Authority in accordance with Chapter 480 of the Stamp Act of the Laws of Kenya.

  3. Prior to tax determination, the seller must request an appraisal of the property by submitting the signed appraisal form for stamp duty and the property transfer form to the Land Office.

  4. A stamp duty return, assessment, and proof of payment is then completed at the Land Office.

Once the stamp duty is obtained and the transfer process is complete, the transfer documentation is required by law along with the following documents to be recorded for the record:

  • Original title deeds

  • Stamp duty return

  • Evaluation form and admission ticket

  • Territorial Fee Settlement Certificates

  • Transfer consents

  • Valuation form for stamp duty

Property registration: the final stage of property transfer

When the buyer obtains the transfer of the registered property, the law advises to verify the registration of the same by carrying out a property registry.

permission to develop

In case the owner intends to develop the purchased property, he must go to the relevant local authority and obtain the required development authorization.

Often the owner will be asked to:

  • Commission an environmental impact assessment report to determine if the planned development has adverse environmental effects

  • Obtain an environmental license from the environmental agency-NEMA.

Masturbation in the shower: tips to have fun in the bathtub

One of the best things about masturbation is the convenience factor: you carry the necessary equipment with you at all times, so it’s easy to indulge yourself anywhere. (Though doing it on a street corner or dinner table isn’t usually the best idea.) This, of course, means that masturbating in the shower is an option, and indeed it happens to be a popular option. A survey indicated that 89.9% of respondents had masturbated while taking a shower. This is a great way for men to combine penile care (ie penis cleaning) with penis enjoyment, especially when following the tips below.

Tips

Clearly, a man can just enjoy a good massage session in the shower without any special instructions. But these tips are things that many men may want to consider while experiencing water-based masturbation.

– Use lubrication. With all the moisture that comes with a shower, it might seem strange for a guy to include lube while pleasuring himself in the tub. But the fact is that water can wash away the natural lubrication that often occurs during masturbation. Some men use soap and/or shampoo to add a bit of slickness, and they certainly come in handy when showering. But too much soap or shampoo can irritate your skin, especially during a long solo session. Keeping some lube nearby may be a better solution.

– Monitor the temperature. Hot showers can feel relaxing, but if a lot of that water is going to pool on your penis, cool it down a bit. Water that is too hot can damage the very sensitive skin of the penis, making the manhood feel sore and potentially burning it. Also, too much hot water can deplete the skin’s natural oils, leading to a very dry penis when the whole experience is over.

– Watch the balance. Many men can really go deep into their masturbation experience. Deep moans are okay, especially since the sound of running water can prevent roommates from hearing them. But those who tend to pour their whole body into their physical appearance may need to practice a little restraint: It’s all too easy to slip and fall in a wet tub.

– Work the shower head. Those whose bathtubs include a moveable shower head should take advantage of this fact. The erect penis often enjoys the sensation of the jet of water hitting it, so move the nozzle around. If your shower head also offers different jets and power, adjust it for a more pleasant variation.

– Consider the curtain. Many men find that wrapping the shower curtain or liner around their hand and stroking the penis adds a special new texture that can be quite exciting and invigorating.

– Be careful with cleaning. One of the joys of masturbating in the shower is that it’s so easy to clean your penis and hands afterward. However, it is important for a man to make sure that no semen droplets remain on the walls, floor, or in some cases, the ceiling. This is especially true if the partner or roommate must shower next.

Since masturbation is part of a healthy sex life, being prepared to relieve yourself in the shower is common sense. Equally sensible is making sure you incorporate a good penis health cream. (health professionals recommend Man1 Man Oil) in the daily health regimen. Since showering can sometimes cause a depletion of oils and nutrients, a vitamin D cream is recommended. Vitamin D has a well-deserved reputation as a “miracle vitamin,” thanks to its power to help fight disease and allow proper cellular functionality. The presence of acetyl L carnitine is also desirable in the chosen cream. Water that is too hot can cause some desensitization of the penis, and acetyl L-carnitine has neuroprotective properties that help maintain proper sensitivity in a man’s favorite organ. A first-class cream ensures that you can continue enjoying yourself while you enjoy the shower.

The difference between Dura-Ceramic and ceramic tile

The flooring materials market has long been dominated by ceramic and laminate tiles due to their extraordinary durability and/or price. When shopping for flooring, there are a few options to consider before choosing which material to put under your feet. In addition to classic ceramic tiles, there are now Hard ceramic tiles, a newer material that is growing in popularity. But is it the right choice for your flooring solution?

Manufactured from a limestone composite base reinforced with polymer resin, the Congoleum company produces Dura-ceramic as an alternative to traditional flooring options. The manufacturer claims that it can be used in the same way as ceramic tile, except as countertops or in a shower or bathroom setting. Some customers say it feels warmer underfoot than ceramic. It can withstand expansion due to temperature changes and resists cracking, giving it an advantage over the tough but potentially brittle nature of ceramic.

Ceramic flooring, traditionally made of heated and cooled clay and sand, is a beautiful and durable option for any room in the home or for business. As a material, it is soft and nonporous, so it is easy to clean, does not readily harbor bacteria, and does not absorb odours. It is totally natural and very respectful with the environment, since it does not contain toxic substances.

Stoneware and ceramic can be colored with pigments, but the range of appearances is limited, while hard ceramic tiles offer a wider range of visual options. Both of these materials are durable, much longer even than high-strength linoleum, but Hard Ceramic is reported to be more likely to splinter with a heavy impact. Both are easy to clean and will stay looking new if properly laid, grouted and maintained. Neither type of tile responds well to vacuum beaters, abrasive cleaners, or solvents and should be cleaned with the manufacturer’s recommended cleaning products.

It’s hard to imagine anything better than a properly installed and maintained tile floor. While Dura-ceramic floor tile is a modern innovation that is more visually appealing than its earthenware predecessor, it is often the more expensive option. Traditional pottery is more flexible in its uses and is just as durable, if not more so, than Hard pottery. If appearance is a priority, then Dura-ceramic may be the way to go when you have a specific color in mind, but dollar for dollar, true ceramic flooring is the way to go.

Land Profit Generator Review

Jack Bosch has changed the name of his successful Land Profit Formula course to the Land Profit Generator. Besides the catchy new name, what’s new? Is it worth getting the program? Find out in this short review.

The LPF home study course was first launched in September 2008, and the launch was a landmark launch for any real estate information product. One of the problems that investors encountered with the previous version is that it was difficult for them to obtain free lists of landowners.

If you’ve always wanted to invest in land and didn’t know how to go about it, the Land Profit Generator will give you a lot of information you can use. From finding good leads for landowners in public records, to how to approach them, what to offer, and how to resell vacant land fast for big profits, it’s all covered in the new Land Profit Generator.

In my own experience, owners of vacant land are much more sensitive to simple economic marketing than owners of any other type of real estate. A single mailing of a simple postcard to a few hundred landowners has generated 300% more qualified leads for motivated sellers than any other real estate marketing campaign I’ve launched before.

These results are due to two main facts:

1. Target a specific group of landowners who own the property freely and clearly, according to the specific instructions of the Land Revenue Generator.

2. In investing in vacant land, you as an investor face much less competition than in any other real estate niche.

One of the key added values ​​of the new system is the modular design of the material. Jack Bosch has redesigned the entire course with the goal of making it much easier to outsource individual tasks to virtual assistants. This modular design is essential for building a land investment business from scratch, without being tied down to having to do a lot of work all the time.

For more information and special bonuses from the Land Profit Generator, visit our website.

Bathroom Tile Grout Alternative

When one is laying tile on a bathroom floor, experts will always tell consumers to fill the spaces between the tiles with grout so that the seal is secure and does not allow moisture to seep into the floor. If moisture seeps between the tiles, it opens up the possibility of mold growing under the floor. It is important to put something between the tiles to create a seal, however there are alternatives to using grout. It’s just a matter of deciding what works best for the consumer, taking expense, aesthetics, and efficiency into account. All of these options can be done by taking a “do it yourself” approach instead of hiring professionals if the consumer wishes.

The first alternative is grouting with sand. It is cement based and is most commonly used for intermediate tile and stone. Buy a package of sanded grout from Ace Hardware Outlet for $6 per 7-pound package. It is a commonly absorbent product and must be sealed to protect the product from stains and dirt. It is very simple to apply and a great option for those unfamiliar with the process. Since the price is so affordable, it makes it much easier to pay the right amount and fix mistakes.

Another alternative is an epoxy-based one. The advantage of using this type is that it is resistant to stains and mildew. While this can be applied by oneself, it is quite difficult as there are several components in the mix that need to be combined and mixed just prior to application. After mixing, there is only a small window of time to apply the epoxy-based grout to the area. If this is your first time applying this type, it is suggested to hire an experienced contractor to do the job. However, if one is interested in taking on the project, this guy can be found at The Home Depot for $31 a pack.

These options are great alternatives to using standard grout materials. Both options are affordable and will keep any bathroom safe from stains, mold, grime, and fungus that could build up on the floor. Consumers looking to upgrade their bathroom should look for alternatives to grout to save money and time during their upgrades. These alternatives will give consumers the same benefits of traditional grout without having to spend time outlining each individual tile on their own. Once finished, the consumer will be pleasantly surprised with its results!

Ecco shoes that improve posture

Ecco has a simple philosophy: the shoes should follow the foot.

When you wear a pair of shoes that let your foot lead, you can change the way your body feels, acts and responds. These shoes can improve your posture, even when you’re standing still.

In 1963, Karl Toosbuy sold his car and house and moved to Bredebro, Denmark, where he opened his first factory for his new company, Ecco Sko A/S (later renamed Ecco). Early work focused on flexible and durable soles for unparalleled comfort. In the late 1990s, the company began offering shoes for men and women. By 2000, Ecco’s largest single market was the United States, where it now faces shoe giants Nike, Reebok and Adidas.

The company calls its products “physiological shoes.” Due to their design, these shoes can activate the support of the body and postural muscles so that you walk more upright and get an improved workout. Instead of making the foot mold to the shoe, Ecco builds its shoes to follow the normal shape and function of the foot. The response to the 56-year-old company has been positive. Today it is one of the world’s leading footwear companies and is one of the leaders in the field of comfortable footwear.

One of Ecco’s most popular lines is their MBT footwear, which stands for Masai Barefoot Technology. In explaining the process, Ecco suggests remembering the feeling of walking barefoot on a natural surface. There is nothing smooth about a grassy surface as it usually “give” more than a concrete surface. Walking through these surface variations can cause you to constantly change your posture, so your foot stretches more, your gait changes, and your posture improves.

Basically, MBT technology allows us to walk the way our ancestors walked before the day of shoes. Also:

  • tones and strengthens the muscles of the feet, legs, buttocks, stomach and back
  • improves circulation and increases muscle activity
  • relieves stress on the back and joints
  • absorbs the impact on our joints and discs
  • helps us to be more upright

Ecco’s sports shoe line (MBT shoes) launched Ecco into the shoe business. These shoes come in athletic styles, boots, casual shoes, clogs, sandals, and dress shoes for men and women. They are all made with Masai Barefoot technology.

  • The classic Ecco shoe is the black nubuck and mesh MBT Men’s Sport model, which comes in black with a white stripe around the back of the heel. This model comes in a variety of colors and stripes, including solid black.
  • Ecco also makes a walking shoe that looks a lot like athletic shoes, but made of soft leather that hugs the foot. This model also comes in white with navy blue leather details.
  • Ecco did not forget about the nature lover either. He Kifundo chocolate leather boot has the same MBT sole. The leather goes up to the ankle and has five eyelets to tie.
  • Similar to the Kifundo boot is the Fanaka Gore-Tex chocolate nubuck. This model doesn’t rise as high on the ankle as the boot, which makes this waterproof model a bit more stylish. It is available in rough brown leather and smooth black waterproof leather.
  • For a dress shoe, men may want to try the Tariki – Walnut Oiled Leather Shoe. Still within the MBT family, this shoe is four laced and comes in a rich burnished brown.
  • For casual days, Ecco makes several men’s sandals, all MBT models. The Kisumu men’s sandal in chocolate nubuck has a special sole for walking and two thick straps that provide ample support to the foot. It is also available in two variations: black nubuck and black nubuck with gray trim. Women who want the support of MBT shoes have almost as many selections to choose from as men. They can choose from sneakers similar to the men’s models, such as Chapa in ebony suede and mesh, as well as coffee brown, birch nubuck and mesh, and chili (red) nubuck and mesh.
  • For a little color and fun, try the Lami Mary-Jane in purple suede. She sports gray leather trim and a velcro strap to break up the purple. Do you like the shoe, but want to tone down the color? It also comes in caviar black leather.
  • Do you want something more elegant? Take a look at the Tunisha Mary-Jane in Grape Leather. The smooth leather and buckled strap add to the sleeker look, but the sole gives you the same great ride as the sportier models. The Tunisha is also available in plain black.
  • Go outside when it’s hot? Try one of the women’s MTB sandals: the Kisumu sandal in black or chocolate nubuck – or the black Panda model with white trim (also available in anthracite, which is silver with deep purple trim).

With so many comfortable and stylish shoes to choose from, Ecco is making fashion footwear fun again!

Burnt Smell Coming From Ceiling Fan – What Should I Do?

My ceiling fan has a burning smell. Where does the burning smell come from and what should I do about it?

If the fan smells burning, it’s usually best to unplug it and not use it for now. A burning smell coming from the fan usually indicates a wiring or motor fault.

One thing you may notice about the fan is that it can wobble. Check if the burning smell is coming from the engine. If the smell is coming from the motor and the fan is wobbly or not working properly, it could be a fault within one of the motor’s coils. You may need to replace the motor. You can repair the engine, but be very careful, you must know what you are doing. And the motor may hold some charge if there are also capacitors in the motor, make sure you don’t touch them with the screwdriver as it may discharge them into your body.

Another place the burning smell can come from is the wiring in the wall. If the odor is coming from inside the wall or other components of the fan, be sure to turn off the fan immediately. If the smell is coming from inside the wall, it could mean that some of the wiring is getting too hot and is catching fire. This can happen if there is too much power on an old line. You may have very old wiring in your house, which can also cause this to happen with any appliance, not just a fan. Sometimes houses may have old aluminum or other wiring.

Other times, the burning smell may only come about if you switch the ceiling fan to higher speeds or use a certain lighting kit. This can also happen. Your motor has different coils that run on different things, so it’s possible that one coil has blown. This would cause the fan to work incorrectly for some things, but still work fine for others. Most of the time, replacing the motor (if the smell is isolated to the motor) can solve the problem.

It’s usually not a good idea to run the fan when it’s emitting odors, so turn it off for now until you have time to look at it.

What is real estate title insurance?

What is title insurance?

If you’re refinancing your home or trying to buy a new home, the term Title Insurance will come up at some point. An incredible number of people have no idea what title insurance is, but they buy it every day. Simply put, title insurance is a policy that limits the risk to the buyer, owner, and lender of a real estate transaction. Insurance may not financially protect all 3 on every deal, but by eliminating liability risk, title insurance has a positive effect for all parties involved.

At one time, if a person wanted to buy a property, they contacted a lawyer to investigate the property. The attorney would make a trip to the courthouse and pull out all the necessary records to make sure the property is free of mortgages, tax liens, council liens, and judgments. It would ensure that the person(s) selling the property is/are the actual registered owner(s) and would also investigate the chain of title to ensure that how the owner acquired the property does not present any claim. to other individuals or groups. If the person buying the property needed a loan, the attorney would assure the Bank that the property was clean or had liens, that is, any encumbrances or other property rights that might be infringed. As time went on and banks became multinational, some form of insurance became more necessary to indemnify banks in case there was a problem after closing. Lawyers still understood a good deal of title insurance in the United States. Nevertheless, title companies appeared to specialize in this type of transaction. In many cases, for simple residential transactions, title companies are quicker and more efficient to get through the lender’s process. Banks like Chase or Bank of America; I have no idea who owns what or which attorney to use when it comes to insuring them against risk in any given area. Therefore, they allow the borrower to choose a title company or attorney to issue insurance to protect the borrower.

Refinancing

In many ways, a lender’s policy and an owner’s policy are similar. If a person is refinancing, title insurance is purchased, at the borrower’s expense, to assure the new Bank that their mortgage will be in first lien position in court after closing. At this point the Bank may request a title insurance commitment. This commitment is required for most loans, as the Bank will request a Title Policy from the Lenders. The title company conducts a search of the court records and examines them. In Pennsylvania, deeds, mortgages, liens, etc. they are recorded in the order in which they arrive at the courthouse. So if you have a previous mortgage and the bank records a new mortgage, the new mortgage will be in the second lien position. In this case, the old mortgage would take precedence over the new mortgage in terms of foreclosure rights. The old mortgage, once paid off, would have to be paid. And then the new mortgage would rise to the top position in the registrar’s office. This is the main function of the lender’s title insurance in a refinance. The new bank is making sure that if you ever default on your loan with them, they can foreclose on the property to get your money back. The house is the guarantee of the loan and they are only protecting themselves.

shopping

When you take possession of real estate, you want to have guarantees for many different risks that are involved in that type of transaction. The first of which is the identification of the proper owner. I’m sure you’ve heard the old “Brooklyn Bridge” phrase regarding chumps and real estate. Title companies verify it for you. I have had people try to kick me out of property that they not only didn’t own, but had no idea who the real owners were. As the proposed owner, you also need to know if there is any kind of bond attached to the property. There are many types of links but the most common are; Mortgages, Judgments, Fiscal Seizures and Municipal Seizures. These types of links are linked to the property, not just the owner who incremented them. So if that owner transfers ownership to him and nothing is done about these links, he will keep them. You may not be financially responsible for them, but these types of links do not take into account who actually owns the property; They only care about getting paid. If you keep someone else’s back taxes, the tax man doesn’t care. The government wants your money and will sell your house to get it. Therefore, I cannot stress enough the importance of having a qualified licensed title company review your potential investment.

I would just like to reiterate that the potential risks that are involved with real estate are so numerous and vast that it is easy to see why most banks and mortgage brokers require it and most people who are in the real estate business they realize why it is so vital to the process. It’s great to have some solace in the fact that the land has been researched and is ready to be transferred. Keep in mind the notion that it’s a one-time fee for the security that you’re taking ownership and only have to worry about the future, not the past. And, an owner’s policy lasts as long as you and your heirs own the property, where else can you get that kind of convenience for you and your family?

My neighbor has an easement to use my driveway, can I make him pay for part of the resurfacing?

This is a common situation. A private easement is a legal right to use another person’s land for a certain purpose. It is not uncommon for owners of landlocked properties without access to a road to obtain an easement in order to access the road, which is often over a driveway. Your property may be encumbered with an easement from years or decades in the past, and now is the time to repair the property that is covered by the easement.

You were probably aware of the easement when you bought the property. His attorney or his title insurance company probably told you about it. In many cases, there is also an easement maintenance agreement on file with the county clerk’s office. This agreement would address the issue of who has to pay for driveway repairs. If no such agreement exists, unfortunately you have no good way of forcing your neighbors to pay for resurfacing since you own the land.

Hopefully, if there is no easement maintenance agreement on file, you will be able to reach an agreement with your neighbor. You should approach your neighbor in a friendly manner, discuss the problem and offer to split the cost of resurfacing the driveway. You might even offer to pay a little more than your fair share to show a good faith effort to compromise and get the neighbor to agree more. If your neighbor refuses, you have a few options.

First of all, you can choose to do nothing. If you do nothing, the driveway will obviously deteriorate. This could damage your vehicles and could basically force the neighbor to bargain with you and offer a reasonable contribution for driveway repairs. However, this will take time. Your neighbor may be stubborn and may continue to refuse to help with repairs, which means you have to use a poor driveway as well. You may have an alternate path you can take, and you might consider using it and letting them use only the rough driveway.

Another option is to hire an attorney. The attorney could write a letter threatening to cut off the neighbor’s access to the driveway unless the neighbor agrees to a contribution. However, that is usually just a threat. They cannot be forced to pay the driveway, although a letter from a lawyer could go a long way in scaring them enough to pay a portion of the driveway.

Finally, if friendly negotiations, inaction, and the letter are of no avail, you could choose to block the neighbor’s access to the driveway. However, it is very likely that if they went to court, a court could force you to remove the gate if the neighbors’ easement is legal. In order to go to court, your neighbors may need to hire an attorney, and the neighbor may realize that the money would be better spent on repairing the driveway rather than court action. It is also possible that a court may determine that the neighbor has a valid easement, you improperly denied the neighbor access to his property, and therefore you must pay the neighbor’s legal fees.

It can be very frustrating to own property that is subject to an easement. Easement holders can be completely inconsiderate in their use of the property in multiple ways. Unfortunately, once an easement is established on property, it can be very difficult to get rid of. You can have the easement holder release it, which is unlikely if the easement is needed to gain access to a road. You can also take action in court, which could legally terminate the easement.

Buying a property in Romania – Real estate law in Romania

If you are looking to buy a vacation home or second home or invest in Romania, Transylvania or the Black Sea and you are a foreign citizen/investor, there are a few things you need to know about the procedure and costs for acquiring Romanian land. or Romanian houses.

After 2012, foreign citizens EU citizens (non-Romanian) can buy a house or apartment in Romania and can freely buy and sell any Romanian property, without restrictions. Along with the selling price of the property, buying real estate in Romania has other associated costs.

If you have chosen to collaborate with a Romanian real estate agent/broker, you can expect to have an additional commission of approximately 2-4% of the property price. The local tax will be 2-4% of the property price. The signing of a contract must be witnessed by a notary public who presents it for certification by the Land Registry in charge of real estate records. Romanian notary public fees are around 0.5-1% of the purchase price. You will also have to pay fees to the Property Registry (“Cartea Funciara”) to register the Transfer Deed. The Romanian land registry fee for the purchase of a property will vary from 1 to 3% depending on how long the seller has owned the property and the value of the property.

Romanian law on property states that citizens of EU member states, legal persons incorporated in EU member states, and stateless persons domiciled in an EU member state may purchase land in Romania only if the land it is used for secondary residences or for secondary headquarters after a period of 5 (five) years from Romania’s accession to the EU (from January 1, 2012); only for agricultural land and forest land 7 (seven) years from Romania’s accession to the EU (from January 1, 2014).

But for citizens, legal persons and stateless persons who are not from an EU member state, the Romanian legal system establishes that they can buy land in Romania, under the conditions of international treaties between Romania and the states of origin on these persons, under a reciprocity basis.

From our point of view, a prudent investor will hire a Romanian lawyer/Romanian law firm, who will work closely with the notary in verifying the title, obtaining the extract from the Land Registry and drafting the property transfer contract. property. of the real estate. This means that the Romanian lawyer will act only on behalf of his client and will be responsible to him, while the notary will not have the same degree of responsibility to the buyer.

Under Romanian law, there are three basic rights to land and buildings, such as the right to own property; usage rights such as lease, usufruct, surfaces; concession right. The principle of contractual freedom represents the key core of property law in Romania.

Sometimes an investor/buyer may choose to enter into a pre-sale contract, whereby the seller agrees to transfer the property to the buyer on a certain date in exchange for an agreed consideration. The content of the pre-sale contract will stipulate all the commercial and legal conditions for the transfer of ownership, as conditions prior to the definitive transfer of ownership. The closing of said pre-purchase contract does not mean the transfer of the property, but rather the binding obligations stipulated for the parties, regarding, for example, the damages or sanctions provided for therein, if the seller refuses to sign the definitive contract. . public deed of transfer within the agreed term.

The closing of the pre-sale contract is to protect the investor/buyer from any possible purchase from other buyers and issues related to the fixed price and duration of a future purchase. From our point of view, it is essential that the pre-sale agreement is signed before a Notary Public and clearly stipulates the sale price and other clauses related to the duration of the future purchase. In this case, it can be enforced judicially at the request of the buyer as a property transfer deed.

A sales agreement signed in Romania, in accordance with Romanian law, will obligatorily stipulate: obligations of the parties for the fulfillment of the sales contract, delivery and quality conditions of the goods and/or services, terms, payment methods and guarantees of payment, payment instruments and insurance price, contractual risk, as well as the method of resolving eventual litigation arising from the contract. Other required elements include the full name and identification data of the parties (for legal entities) and the name of the person signing the contract (representing a legal entity).

Our team of Romanian lawyers offers a wide variety of legal services in real estate law http://www.lawyersinromania.com