0. Real Estate Brokerage
Contact us directly for list of available real esates. We provide our real estate agency service as an auxiliary service related to our main focus of activity.
1. Drafting of Real Estate Sales Contracts
Based on a sales contract, the seller is obligated to transfer the ownership of the estate, and the buyer is obligated to pay the purchase price and take over the property. In addition to transferring ownership, the seller is also obligated to transfer possession of the estate. The real estate sales contract must be in writing, and the buyer's ownership must be registered in the land registry.
Through our partners, we help ensure our clients get what they pay for!
Our Law Firm thoroughly and comprehensively assesses the legal status of the property before any money is transferred.
Our experience shows that many of the properties hide surprises that help buyers determine the true value of the purchase price and provide a good basis for negotiation during the transaction.
Through our collaborating engineering partner, our clients have the opportunity to commission an engineering assessment from a company like Prividom Mérnökiroda Kft. In our experience, it is important to acquire the true technical condition of the property quickly and flexibly, with adequate professional preparation and thoroughness, by requesting an expert opinion.
§ The relationship between the real estate sales contract and a bank loan
The aspects that must be included in a real estate sales contract countersigned by an attorney may vary from bank to bank. Our office has extensive experience in drafting sales contracts for properties purchased with such financing.
§ What to pay attention to when concluding the contract?
A fundamental condition for acquiring ownership through a sale is that the property is owned by the seller, meaning they are listed as the owner in the land registry. In addition, the seller also needs the right of disposal for a sale, as they are not entitled to sell the property without it. The right of disposal is excluded, for example, by an alienation and encumbrance prohibition on the property. Information on all these matters is provided by the property's title deed.
§ Changes affecting earnest money
The new Civil Code brought important changes regarding real estate sales. One such important change is that it is now possible to give not only money but also other valuables as earnest money. Furthermore, earnest money can be handed over at a different time than when the contract is concluded, so a bank transfer or an amount paid in advance, commonly called an "advance payment," may also qualify as earnest money.
Be aware of payments made to real estate agents - they do not provide a protection such as coming when signing the a full or preliminary contract.
2. Drafting and Reviewing Preliminary Contracts for the Transfer of Real Estate Ownership
A preliminary contract creates a contractual obligation between the parties. A preliminary contract is a contract with a special subject, which aims to conclude a later contract. The subject of the preliminary contract is therefore the final contract itself and the declaration of the will to conclude it, thus creating a contractual obligation.
A preliminary contract for the alienation of real estate must comply with the same formal requirements as the final contract, so it must be in writing.
3. Establishment and Deletion of Usufruct and Other Rights
The establishment of a usufruct may take place based on a contract or a legal provision. For a usufruct to come into being, in addition to the contract or other title, the transfer of possession of the estate is necessary – in the case of a usufruct established on real estate or a right registered in the land registry, the registration of the usufruct in the land registry is required.
The usufructuary may possess, use, utilize, and collect the fruits of a thing owned by another person; among the partial rights of ownership, only the right of disposal over the thing does not belong to them.
The deletion can take place during the lifetime of the usufructuary or after their decease. The deletion of the usufruct from the land registry upon the decease of the usufructuary is not automatic – the land registry office does not have knowledge of when each usufructuary died – so the land registry office acts upon a request.
4. Drafting of Real Estate Gift Contracts
Based on a gift contract, one party is obligated to provide a financial benefit to the other party at the expense of their own assets. The benefit is only considered a gift if it also constitutes a financial benefit for the other party and there is no counter payment.
Based on the gift contract, the donor undertakes to hand over the thing specified in the contract to the donee without any consideration. The real estate gift contract (similar to a sales contract) must be in writing, and the donee's ownership must be registered in the land registry.
5. Drafting of Real Estate Exchange Contracts
In a real estate exchange contract, each party is a seller with respect to their own property and a buyer with respect to the other party's property. In a real estate exchange contract, the parties undertake to mutually transfer the ownership of their properties.
In the case of an exchange contract, there is no monetary(or only supplementary), and neither party pays a purchase price as consideration for the transfer of ownership (or only to compensate for the difference in value of the other party's property), but undertakes to transfer the ownership of their own property to the other party.
6. Drafting of Residential and Other Real Estate Lease Contracts
A residential lease relationship can be established by putting the parties' unanimous declaration of will in writing, in which the parties must define the essential matters, as well as any matters that either of them considers essential, such as the duration of the contract, the designation of the apartment, the amount of the rent and the security deposit. The Civil Code caps the amount of the security deposit at three months' rent.
Our Law Firm supports landlords' efforts to be able to regain possession of their property without violating the law in cases of non-payment or other breaches of contract by their tenants, or upon termination of the lease.
7. Changes brought by the 2013 Civil Code
The Civil Code modified numerous rules regarding real estate leasing. One such important change is that a lease contract can now be concluded for a period shorter than one month, or that the tenant can terminate the lease of an apartment (or other premises) that is in a condition endangering health, even if they were aware of this circumstance when the contract was concluded.
If you are interested in concluding a real estate sale, residential lease, or drafting an exchange contract, or if you need general advice, or if a legal or technical assessment is required.
Our office is ready to assist you.
