Overview

In last year’s Roadmap we reported on those changes to the new Romanian Civil Code that will impact on ownership and other rights in real estate. As reported then, one of the most important achievements of the new Code will be the new rule that transferring rights in property will depend on the fact of Land Book registration (the constitutive character of registrations).

Currently ownership rights in real estate are transferred by notarised agreement and excerpts from the Land Book are for information only. Land book entries may not be relied on by a purchaser as a guarantee of the measurements or other details it contains.

Unfortunately, the new Civil Code has been delayed and still requires a number of conditions to be fulfilled before it can enter into force.

Schoenherr provides the details.

To read more please click ‘view briefing’.