Is it possible to buy an apartment for someone else, for example, for an underage child?
Yes, a person has the right to acquire property from his birth. This means that even a minor may own a property. Nevertheless, a child only becomes competent to enter into agreements upon coming of...
What taxes do i have to pay in the event of a real property transfer? Are there any other fees involved?
The following taxes may need to be paid on the transfer of a real property: Income tax of 21% if the seller is a legal entity. The tax is paid by the seller. Income tax...
Do you give a warranty on the buildings you build? Are there any pitfalls to such a warranty?
GARTAL provides a standard warranty of 24 months from the acceptance of the property. That way, as the buyer, your warranty period is not reduced by the duration of the occupancy permit proceedings. Fixtures in...
What is required for successful registration in the land register?
Essential for successful registration in the Land Register is a written agreement on the basis of which the real property is transferred or passes to a third party. Aside from the said agreement (title transfer...
If a property is purchased during a marriage, it becomes a part of the spouses’ common property (“CP”) if the couple is married pursuant to the laws of the Czech Republic. That means that it belongs to both spouses indivisibly, and both spouses are liable (solidary liability) for any obligations arising in connection with a mortgage used to pay the purchase price or a part thereof. Nevertheless, CP may be narrowed by a notarial record and a property may be extracted from CP. If a property is extracted from CP and a mortgage has been provided for its purchase which has also been extracted from CP, only the spouse who owns the property will be liable for its repayment.
Another way that one spouse alone can acquire a property is by acquiring it with funds obtained prior to the marriage or received as a gift or inheritance during the marriage. Such funds do not become part of CP.
In the case of a divorce, the following options are available for a property owned as part of CPi:
If the property is encumbered with a mortgage, both divorcing spouses bear solidary liability for it, i.e., jointly and severally. Mortgage settlement options:
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