Whether you inherited a small plot of land in the countryside or bought a large apartment in the city, one thing is certain, you will have to deal with the Hungarian
Land Registry Office.
The LRO is an agency-like body tasked with
- maintaining a comprehensive register of all real properties in HU (land and ownership records),
- recording and updating information about ownership, usufruct, mortgage and other rights, obligations and relevant facts related to real properties,
- ensuring the accuracy, authenticity and integrity of the information in the records,
- facilitating real property transactions by providing information from the records, and
- regulationg the registration of property rights and transactions.
How does a procedure before the LRO take place?
The procedure before the LRO is usually initiated at the client’s request or at the request of a court. Upon this request, the creation, modification, or termination of a right can be registered in the land and ownership records. This also means that, as a general rule, only the right can be registered and only the fact can be recorded or deleted that is indicated in the request.
The request must be submitted within 30 days from the date of signing the contract (on which the registration is based) to the competent LRO (according to the location of the property) on the standardized request form provided by the Office.
Why do I need a lawyer if I have a real estate case?
Legal representation is mandatory in procedures initiated upon request, in which the registration of the change of right, obligation or fact is based on a document drawn up by a notary public or a document countersigned by a lawyer.
Since, e.g. real estate purchase agreements require the countersignature of a lawyer or notary public, therefore in most cases lawyers act before the LRO and the communication takes place exclusively between the Land Registry Office and law firms.
If you are in need of a lawyer, feel free to contact dr. Balázs Ács from NZP NAGY LEGAL. Balázs and the NZP Team will be happy to give legal counsel and represent you.
The author of this article is on the list of lawyers and law firms provided by the U.S. Embassy of Hungary as a convenience to U.S. citizens and companies.
Contact: balazs.acs@nzp.de