Sales and acquisitions, lease contracts
According to the Bulgarian legislation sale and purchase of a real estate should be executed via a contract according to which the seller is obliged to transfer to the buyer the ownership right over a specific real estate for a price that the buyer is obliged to pay. This happens via a title deed.
The law firm provides advice on the legal aspects of real estate sales and acquisitions:
- Analysis of the legal history, the ownership title documents and urban status of the properties;
- Preparation of the necessary documents for a transfer of the ownership of the real estate;
- Drafting and/or review of a preliminary real estate sale & purchase agreement;
- Overall legal assistance in conveyancing of the deal;
The leasing contracts is governed by Bulgarian legislation as a form for granting temporary use of goods for consideration. There are two types of leasing in view of their economic objective – operational and financial leasing. In this area the law firm provides:
- Conducting negotiations with lessees/lessors;
- Drafting lease agreements, notifications, demands, applications etc.;
- Representation in disputes;
- Consulting in case of breach of contractual obligations;
- Protection of the right of ownership through proceedings;
- Entry of lease agreements into the Registry agency;
Preparation of notary deeds
The notary deed is the official document in Bulgaria that certifies and appoints the legal owner to a property and it is compulsory for a real estate sale. The law firm represents and provides assistance to the client before the Notary public in Bulgaria, drafting of all necessary documents for the execution of the Title Deed and acting on the client’s behalf before the Notary.
After the Title Deed has been executed it is registered into the Bulgarian Property Register.
According to the Bulgarian legislation a mortgage on real property may be established to secure a claim both for one’s own obligation or for another person’s obligation. The mortgage shall be created through registration in the Property on the grounds of a contract or by operation of law.
The law firm provides consulting on mortgage lending and participation in negotiations relating to bank credit agreements.
Real estate finance
The legal firm provides professional legal investigation of real estates, legal status, legal checks for burdens, mortgages, pending lawsuit, unpaid tax debts in order to give legal advice and support in:
- Preparation of all kinds of documents related to real estate transactions;
- Selection of appropriate real estates upon preliminary set criteria;
- Negotiations and representation;
- Tax planning;
We guide you through the legal process in the real estate investment procedure and the impact of the law on deeds, property taxes, estate planning, and titles.