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Are GARTAL projects encumbered with loans for the financing of their construction?
Like most developers on Czech markets, GARTAL finances its projects with loans from reputable banks. This gives assurance to buyers that the construction does not depend on GARTAL’s fluctuating financial liquidity, coming from funds paid...
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...
Why must there be a condominium association? What rules apply to a condominium association?
Pursuant to the Civil Code amendment applicable from 1 July 2020, a condominium association (CA) shall be established, provided it had not been established earlier, by unit owners in a building comprising at least five...
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...
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 document), an application for registration must be completed, using the prescribed form (which is available at nv.cuzk.cz/Web/Uvod.aspx). An application may be submitted by any party to the property transfer agreement. By law, the Land Register Authority must wait for 20 days, during which registration cannot be made even if all background documents are in order. Only after the expiration of that statutory period can registration be made for the benefit of the person acquiring ownership of the property. Usually, the proceedings take one calendar month.
The buyer becomes the owner of the property upon the registration of his ownership in the Land Register, which is registered retroactively as at the date of the delivery of the application for registration to the Land Register Authority, with which the relevant ownership transfer document is enclosed.
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