[BUYING AND SELLING REAL ESTATE IN SLOVAKIA]
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KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER SLOVAKIAN LAW
Types of Real Property Conveyance 7 Transactions
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drafted in the form of a notarial deed or (iii) the conveyance agreement is drafted by an attorney-at- law (so called “authorisation”). A transfer contract may also be concluded in electronic form – by means of guaranteed electronic signature. No signature certification is required in such case. III. Contents a. Mandatory Content • The identification of the legal transaction at hand (purchase, donation, etc.), place and time of the legal transaction; • Identification of the contracting parties; • The purchase price; • An exact description of the real property, i.e., a description of the
a) Purchase of an undeveloped plot of land b) Purchase of a developed plot of land c) Purchase of a building d) Purchase of a flat e) Purchase of non-residential premises f) Establishing a right to build 8 Note : A separate form of acquiring real property (indirectly) is a share deal – acquiring control over the entity (see below) owning the real property through purchase of shares in such entity. Conveyance of title to real property may also take the form of a donation (see below) or exchange contract (basically a mirrored purchase contract). II. Formal Requirements A contract for the transfer of real property (purchase, donation) must be in writing and the expressions of will of the parties must be contained in the same document. The signature of the transferor (on a paper- form contract) must be certified by a notary or a municipality’s registry department. Exceptions apply in cases where (i) the state, a state body, a municipality, etc. is a party to the contract, (ii) the conveyance agreement is 7 Please note that for the purposes hereof, we focus on conveyance of real properties based on a contract (in contrast to other types of real property transfer, such as inheritance or in auction). 8 The right to build is a right in rem related to a plot of land consisting in a right to have an above ground or underground structure whether yet existing or existing in future. It is not considered as real property per se under Slovak law.
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land – the details of the cadastral territory, the exact plot number, the land register "C" or "E", the type of land, and the area of the land; – the details of the conscription number and the plot number on which the building is erected; building apartment non-residential premises – details of the number, floor number, entrance number and co-ownership shares in common parts and common facilities of the house and on the built-up and adjacent land, the conscription number, and the plot number on which the building is erected; or
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Note: Under Slovak law, the land ( solum ) and the building ( superficies ) constitute two distinct objects of ownership. Thus,
ILN Real Estate Group – Buying and Selling Real Estate Series
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