TIME FOR CHANGE

How to end proprietary to real property?

Are you an owner of a real property or are you planning to buy one? It is quite clear how to acquire a property. Do you also know how it is possible to end the possessive right to the property?

 

You can lose property ownership involuntarily

You can acquire property through purchase, inheritance or as a donation. The situation is different when you lose ownershipto the property. Not in all cases the action of ownership lost is based on a contract and your consent.

 

You can easily lose the property even without your consent. Every change of the ownership of the property has to be filed in the land register. This has to be done in given time since the change has occurred.  

 

 

By sale or donation you lose the ownership voluntarily

First, let's name the cases, in which you lose the ownership of property entirely voluntarily with your consent. One example can be selling the property under negotiated conditions with the second party, for negotiated price and in given time.

 

Sale of the property always happens based on contract, for negotiated price. The contract is signed by both parties. From the sale of property it is necessary to pay taxes. Another voluntary transfer of ownership is a giving the property as a gift, donating.

 

This also happens based on contract. In this case taxes are paid if the property was not given to a close person (these are named by law), e.g. If parents give the property to their children, no tax is imposed.

 

 

Execution and dereliction ablate the rights involuntarily

Cases in which the ownership to a property can be deprived without the owner's consent basically occur in two versions. In the first case the owner can lose the property due to an execution order. If the debtor does not fulfill the accounts payable and an execution was ordered, the sale of a property can serve as the debt repayment.

 

The executor has right to issue an execution order on the property and make the changes in the land register so that the owner can not dispose of the property. If the debt is not repaid, the property can be sold to another owner onto whom the ownership transfers.

 

Another involuntary case of ownership deprivement is brought by new labor act- it is a principal of so called dereliction. Based on this act it will be possible to deprive the property ownership to the one who does not properly take care of the property for at least 10 years.