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What is the difference between individual and co-operative ownership?
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...
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 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...
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 the bank, a valuer, and the Land Register. Our long-term cooperation with our partners allows us to secure the most advantageous conditions for you.
The loan is collateralised with a lien, which is one of the most common forms of debt collateralisation for the benefit of the loan provider. A lien is established by an agreement and registered in the Land Register prior to the purchase agreement. If the account payable is not paid, the creditor may sell the pledged item, i.e., the real property, and satisfy its account receivable from the proceeds. A lien is not linked to a person but, rather, to a property, meaning that when the property is sold or transferred to a new owner, the lien passes to the new owner, provided that the creditor’s receivable and all accessories have not been settled.
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