How are a mortgage and purchase of an apartment treated, from the point of view of common marital property? What is the procedure in the event of a divorce?
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...
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...
Can several properties be viewed during a single meeting?
Yes, it is possible to visit several properties during a single meeting, as long as it is logistically possible, with a view to the location of the properties in which the client is interested and...
How is heat consumption metered in individual apartments?
A separate heat meter is installed in each residential unit.
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 units, of which at least four are held by four different owners.” Unless the existence of a condominium association is proven, no other owner’s ownership of a unit subject to transfer may be registered in the Land Register. CAs can be established on a voluntary basis, even in buildings that do not meet the statutory requirements for their mandatory establishment.
A CA is established upon the approval of its Articles of Association in one of the following three ways: in a declaration, made pursuant to Section 1166 of the Civil Code; in an agreement on construction, pursuant to Section 1170 of the Civil Code; or by consensual legal action of all unit owners aimed at its founding, pursuant to Section 1200 of the Civil Code.
A condominium association is a legal entity whose competences are limited to building management.
The existing CA in the building takes care of building management and addresses issues pertaining to common areas and will carry on even while ownership of individual units is being transferred.