TIME FOR CHANGE

2014 brings series of changes

With a wish of all the best in a new year we would like to introduce review of changes in real estate field.

Land registry

Due to a new Civil code land registry undergoes fundamental changes.

 

Cadastral Office introduces innovation how to avoid frauds. In order to improve awareness, it introduces new service for revision of changes that go throught the registry. You can receive this information via SMS or e-mail. If you own up to 20 properties it will cost you 200 CZK. If you own more than that, it costs 10 CZK/year per each property.

 

 

Cadastral Office also introduced 15 new records that will now cost 1000 CZK. Prices for records will also rise. For example for a proposal to deposit into land registry you will pay 1000 CZK instead of 500 CZK. On top of that also transactions that so far have been without charge, will be also paid from now on. For example cancellation of lien after mortgage is repaid.

 

Tax from property acquirement

When transferring a property, tax payment has been on side of the selling party. New arrangement allows the parties to agree upon the fact that the tax will be paid by purchaser. Tax from property acquirement is 4 %.

 

Right to building

If you plan to build, a land has to be in your ownership, letting or there has to be an easement. New Civil code takes into account an alternative of “right to building”. This right entitles you to build on an alien property not in your ownership.