The legal issues in the area of Bulgarian property law are very diverse. It is also the fact that unlike the German property law recognizes the Bulgarian no separation and abstraction principle.
The acquisition of a piece of constructed land is often considered as a valuable investment. The Bulgarian property market has recovered after the economic crises and appears to be again an attractive investment destination. In addition, there are new investment opportunities in renovation projects that are eligible partially for subsidies through the European programs. In particular, the real estate market in Bulgaria is attractive to building contractors due to the relatively cheap land and buildings purchase compared to the rest of Europe and because there is a high interest in renting and buying new or recently renovated property.
In addition to the land financing possibilities, a lot of legal issues arise under public law concerning the building permit process, the connection to and the use of public conduit systems and monument protection law.
Therefore, the contract design is of great importance in real estate law. In particular, clauses concerning the liability for material defects and defects of title, rights in rem (for example, mortgages, easements), and other securities require competent legal advice.
The law firm Ruskov & Coll. cooperates with real estate agents and therefore can offer you a wide range of services. We are your legal team for real estate law in Bulgaria.
Our services include:
- Review of land, land register records, examination of rights in rem, public law requirements, eligibility under European programs
- Negotiations with the parties
- Preparation and review of broker agreements, tentative agreements, land contracts, construction and lease
- Monitoring and representation in notary appointments
- Registration of mortgages, easements, etc.
- Advice and representation in planning permits procedures and change of use proceedings
- Legal advice and representation in other real estate matters (for example, nature protection law, emissions law).