What are the ways of acquiring ownership of real estate in Romania?
According to Romanian legislation, the property right in Romania can be acquired through agreement, legal or testamentary inheritance, accession in Romania, usucaption in Romania, as a result of good faith possession in the case of movable property and fruits, by occupation, tradition, as well as by court decision when it itself transfers ownership. However, the law can also regulate other ways of acquiring property right and ownership of real estate in Romania. Each method of acquiring the property right in Romania has its own procedures and legal requirements, and knowledge of these is essential to ensure a legitimate transfer of ownership, which is why The Romanian Law Firm Pavel Mărgărit and Associates recommend you to seek the legal services of a real estate lawyer, inheritance lawyer, landlord and tenant lawyer in Romania who can provide detailed consultation on the methods of acquiring the property right through a purchase agreement for house in Romania or an asset purchase agreement in Romania and help you understand the legal implications of each option.
Sale and Purchase Agreement in Romania
Real estate sale in Romania represents one of the ways of acquiring the right of ownership and is the sale and purchase agreement in Romania by which the seller transfers or, as the case may be, undertakes to transfer to the buyer the ownership of a good in exchange for a price that the buyer undertakes to pay. The conclusion of a sales agreement in Romania can begin with a promise of sale by which the seller undertakes to conclude a sales agreement in Romania in the future. In addition, the parties involved can conclude a pre-sale and purchase agreement in Romania by which they mutually undertake to close a sale and purchase agreement in Romania under the conditions established by them. Additionally, acquiring the ownership of real estate in Romania through the fulfillment of a promise of sale or a bilateral promise of sale and purchase into a contract, namely a purchase agreement for house in Romania or an asset purchase agreement in Romania, involves negotiating and establishing the transaction conditions, preparing a due diligence report, drafting and signing a sale and purchase agreement in Romania, making the payment and transferring ownership, and finally registering the transaction with the competent authorities to confer the buyer the property right in Romania. In this regard, involving a real estate law firm can provide support in drafting or revising a sale and purchase agreement in Romania or a promise of sales agreement in Romania, to ensure that all legal aspects are correctly covered and that the parties’ interests are protected.
Legal or Testamentary Inheritance – Succession in Romania
Transferring ownership or property right in Romania through succession occurs in several ways, namely through legal succession, testamentary succession, or contractual succession (future goods donation). Through legal succession, inheritance is attributed by law, thus establishing the way of dividing the deceased’s assets and transmitting the estate consisting of the rights and obligations of the deceased person, in the absence of a validly executed will. Through testamentary succession, inheritance is transferred through the deceased’s will, which establishes how the assets will be distributed after their death. The last way of transferring the right of ownership through succession is by concluding a donation contract (future goods donation), by which the person acquiring the goods is determined through a contract concluded during the lifetime of the person disposing of the assets. An inheritance lawyer in Romania and a lawyer for wills in Romania from The Romanian Law Firm Pavel Mărgărit and Associates can provide specialized legal assistance in opening the succession procedure, succession in court or before a notary, helping with the correct interpretation and application of the current legislation, ensuring compliance with the rights and obligations related to the transfer of ownership after accepting the inheritance in an efficient and legal manner.
Accession and 30-Year Usucaption in Romania
Accesion in Romania is another way in which the owner of a property becomes the owner of everything that adheres to the property or is incorporated into it. Accesion in Romania can be of two kinds, natural accession, when the union or incorporation is the result of a natural event, or artificial accession, when it results from the act of the owner or another person.
Thirty-year usucaption in Romania (acquisitive prescription) represents a specific way of acquiring ownership rights, according to which a person can become the owner of a property by possessing it for 30 years, in accordance with the law. Thirty-year usucaption in Romania (acquisitive prescription) involves the exercise of long and uninterrupted possession over the respective property, according to the established conditions.
In these complex situations, consulting land lawyers, real estate attorney or a property attorney in Romania from a real estate law firm in Romania is essential for understanding and correctly applying the current legislation. In case of usucaption in Romania, the land lawyers in Romania will examine the circumstances of possession of the property and evaluate whether they are met to acquire ownership through this specific method. In addition, a property lawyer in Romania and a property solicitors in Romania will ensure that all necessary documents and procedures are completed correctly and that the client’s interests are protected throughout the entire process.
“The legal assistance from a lawyer specialized in civil law, particularly inheritance lawyer, landlord and tenant lawyer, real estate lawyer in Romania is necessary to ensure the proper protection of the parties’ interests in the property acquisition process” stated Managing Partner PhD. Radu Pavel of The Romanian Law Firm Pavel Mărgărit and Associates.
The Romanian Law Firm Pavel Mărgărit and Associates invite you to confidently reach out to our team of experienced lawyers consulting land lawyers, real estate lawyer, property attorney or inheritance lawyer in Romania to guide and assist you professionally in concluding a purchase agreement for house or an asset purchase agreement in Romania and in acquiring the ownership of real estate in Romania through one of the ways mentioned below, by completing the contact form with a simple access at the address https://avocatpavel.ro/contact/.
In conclusion, according to the current legislation, there are various ways in which the right of ownership can be acquired, including through agreement, legal or testamentary inheritance, accession in Romania, usucaption in Romania, or even as a result of a court decision transferring ownership. Each of these methods involves specific procedures and legal requirements, such as preparing a due diligence report in Romania and knowledge of these is essential to ensure a legitimate and correct transfer of ownership. In this regard, The Romanian Law Firm Pavel Mărgărit and Associates (real estate law firm) recommend seeking the legal services of an attorney specialized in civil law, particularly real estate attorney, property attorney, real estate attorney in Romania who can provide detailed consultation and support in understanding and managing the legal implications of each option.
Pavel, Margarit and Associates Romanian Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2023, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2023 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.