What about contracts? What type of a contract do we sign?
With each client, we sign the type of contract that corresponds to the given stage of project implementation. That means that, at the beginning, we sign a property reservation agreement, then an agreement to conclude...
I have heard the term “declaration of the building owner” (in czech: prohlášení vlastníka budovy). What is that?
The declaration of a building owner (Section 1166 of the Civil Code) is a legal action of a property owner (usually of a building) that defines individual residential and non-residential units, their accessories and parts,...
How can i finance a property purchase with GARTAL? Is the loan collateralised in any way?
Through its time-tested partners, GARTAL offers you the possibility of arranging the most advantageous financing for your home. We will also take care of collecting all of the documents necessary and of all communication with...
What is the property tax rate? When is it due?
Every owner of a real property (apartment, house, land) registered as the owner in the Land Register, as at 1 January of the given year, must file a property tax return by the end of...
In the case of co-operative ownership, the purchaser owns a share in a housing co-operative, which guarantees him a right to enter into a lease agreement for an apartment, i.e., the right to use a specific apartment. The buyer, in this case the person acquiring a share in a co-operative, becomes a member of the housing co-operative which is the factual owner of the property in which the apartment (subject of lease) is located. A share in a co-operative can, just like an individually owned flat, be inherited, with the same treatment in estate proceedings.
In the case of a purchase of an individually owned property, the buyer becomes the direct owner of the property.
There are several advantages of co-operative ownership as compared to individual:
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