Reply To: Buying a property in Romania

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#19373

David

I’ve looked it up on the internet but all I could find was this ;

Land cannot be bought by foreign nationals, but only by Romanian individuals, and by legal entities, which however includes companies with foreign participation. However with Romania’s accession to the EU in 2007, foreigners will be allowed to purchase land (in 2007). As of now, foreign ownership is only possible (outside of legal entities) through legal inheritance. On the other hand, there are no legal restrictions on foreign ownership of buildings.

Before selling, the seller must present a “certificat fiscal” (fiscal certificate) to attest that the property has been registered with the fiscal authorities (“Circa Financiara”), and that all taxes due are paid. The seller is also expected to present a certificate (“certificat de sarcini”) attesting that the property is free from mortgages and other legal encumbrances and that the property does in fact belong to the present owner.
The notary then draws up a deed of sale (“drept de proprietate”).
The notarization of sale and transfer agreement regarding ownership of land is compulsory to make the transaction valid.
The transfer should be then recorded in the Land Register/ Real Estate Register.

Registration of property in Romania requires eight procedures and takes 12 to 25 days to complete.