The purchase of a property in Romania, such as an apartment or house, industrial hall, building offices can be made by Romanian citizens, EU member states citizens, as well as foreign citizens. With regard to the right of ownership of land, especially agricultural land in Romania, the law provides certain special provisions regarding their purchase so it is essential to know the legislation governing such transactions. In this regard, Pavel, Margarit and Associates Law Firm recommends a lawyer specialized in real estate and construction who can do all the operations for buying a property in Romania.
Whether we are talking about buying a property in Romania, such as an apartment or a house, an industrial hall, a building office, we need a careful attention to legal details – from documents certifying the seller’s ownership to land book extracts, tax certificates, energy certificates, technical expertise and, of course, concluding sale-purchase contracts or receipt minutes.
Also, a real estate lawyer can do a due diligence report in order to analyze the legal situation of the property.
Starting with 2012, the citizens of the of the European Union and of the European Economic Area can buy lands in Romania, while agricultural lands, forests and forest lands can be acquired by the persons mentioned starting January 1, 2014.
Therefore, EU citizens can own properties, land, apartments or houses in Romania just like Romanian citizens. Foreign citizens and apatrides will acquire ownership of the land under the conditions regulated by international treaties on the basis of reciprocity.
With regard to agricultural land located outside the built-up area, the law provides for special provisions regarding their sale-purchase.
Pavel, Margarit and Associates has assisted numerous clients in real estate purchase projects, mentioning, for exemple, the purchase of houses, apartments, lands, office buidlings, industrial halls and other types of properties.
Applicable legal framework for the purchase of agricultural land located outside the built-up area
Law 17/2014 establishes measures regarding the regulation of the agricultural lands located outside the built-up area sale that apply to Romanian citizens, respectively to the citizens of an EU Member State or of the ASEE or of the Swiss Confederation.
Foreign citizens can acquire the right of ownership over agricultural lands located outside the built-up area under the conditions regulated by international treaties, on the basis of reciprocity, under the conditions of this law.
With regard to foreign nationals who do not fall within the above-mentioned provisions, they will be able to own property exclusively over the buildings, acquiring a surface right over the land related to them.
There are options for them to own land, for example, by setting up a Romanian company.
The mentioned law provides special provisions regarding the sale of agricultural lands located outside the built-up area in Romania, the compliance of the conditions provided by the Romanian Civil Code and of the provisions regarding the right of preemption being mandatory.
Starting with February 1, 2021, the provisions of Law no. 175/2020, all those who want to sell or buy a property in Romania, such as agricultural land have a number of obligations. Some of them remained valid from Law no. 17/2014, being amended especially regarding the aspects related to the preemption rights on the areas put up for sale, the rules applying exclusively to the areas outside the built-up areas.
The sanction of non-compliance with the provisions of Law no. 175/2020
The sale of property in Romania, such as agricultural lands in Romania located outside the built-up area without respecting the right of preemption or without obtaining the necessary approvals for concluding the sale contract in authentic form by the notary or pronouncing by the court a court decision to replace the sale contract is prohibited sanctioned with nullity.
Therefore, it is essential to know the Romanian legislation when you want to buy a property in Romania, such as apartments, houses, industrial halls, office buildings. A lawyer can provide the necessary information, and can also help with a real estate due-diligence that includes information on the characteristics of the property, owners, risks and legal limitations and also to draft a sale-purchase agreement or real estate sale-purchase promissory agreement, while providing assistance and representation in the negotiation process for concluding contracts.
Pavel, Margarit and Associates recommend using the services of a lawyer to provide advice and legal assistance for the purchase of a property in Romania.
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Pavel, Margarit & Associates Romanian Law Firm is one of the top law firms in Romania, offering top legal advice. The Romanian law firm clients are foreign and top local companies and high worth individuals. In 2021, the success stories of the Romanian Law Firm have brought recognition from the most prestigious international guides and publications. The firm was ranked second place in Romania by the Legal 500 publication. The Romanian law firm is also recognized by IFLR 1000 Financial and Corporate Guide 2021. Pavel, Margarit & Associates Romanian Law Firm is also the only law firm in Romania recommended by the Global Law Experts Director in London in the Dispute Resolution area of Practice.