Is a reservation of a real property always binding and subject to a fee?
No, a prospective buyer can reserve a property for up to 2 days without a commitment. This can be done in person, over the phone, or by e-mail, after a viewing or a meeting with...
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,...
What makes accommodation units and studios specific?
Studios are categories of non-residential units that have all the attributes of an apartment – i.e., bathroom and toilet, kitchen corner, but for reasons of hygiene regulations (noise limits, level of lighting), they cannot receive...
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...
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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