PROPERTY IN ROMANIA
- According to Romanian regulations one has to make the following distinctions:
- Buildings (industrial, business)
- Land inside towns;
- Land outside towns (agricultural land);
- Forests
- Buildings can be bought by any Romanian or non-Romanian individual. They also can be bought by Romanian registered companies, irrespective of their capital’s country of origin. With respect to the land underneath a building, see #3 below.
- Land inside towns cannot be bought by non Romanian individuals or companies. So, only Romanian citizens and Romanian-registered companies can acquire land inside towns. A non-Romanian citizen can acquire land by setting up a company in Romania and through his company then to buy land. The same procedure can be used by non-Romanian registered companies. The buildings can be bought without any problems, such as special rights to neighbors or other persons.
- Land outside towns can be bought in the same conditions and by the same persons mentioned at #3 above, except there is a special right of the co-owners, neighbors and tenants to buy the land with priority. In this case, the seller has to offer the land to these categories of persons and unless they offer a lower price than a third party interested, they can buy the land first.
- Forests can be bought only by the persons mentioned at #3. The state has an option to buy the forest if the price it offers is at least the same as the price offered by a third party.
- Lands such as lakes, rivers, banks or beaches cannot be bought. The owner of these is the state, but individuals and companies can get the concession under a special procedure.
- All transfers of land property have to be done in writing at a notary public office. For buildings this is not required by law, but it is highly advisable for the title to be registered properly in the Property Registry.
- Professional advice is needed in order to buy a property as well as a title checking to see whether the property is clear of any lien. Also, some documents must be produced by the actual owner in order for the transfer to operate.
- Taxes on property transfers are usually around 5% of the value of the property. Annual property taxes are around 2% and can be changed by local authorities. Annual taxes are to be paid in 4 installments to local authorities.
NEW !
(in Romanian)
DECIZII ALE CURTII EUROPENE A DREPTURILOR OMULUI IN LEGATURA CU ROMANIA
Legea nr.10/2001 privind regimul juridic al unor imobile preluate in mod abuziv
Legea nr.139/1940 asupra rechizitiilor
Legea nr.119/1948 pentru nationalizarea intreprinderilor industriale, bancare etc
LEGISLATIA DREPTULUI DE AUTOR
Legea privind desenele si modelele industriale