Are you a foreign national interested in purchasing land in Romania? Read below a number of questions of interest answered by our lawyers in Romania.
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How can I buy land in Romania?
The first step in buying terrain is made by the seller, who must register a request at the city hall located in the area of the terrain in order for the offer to be displayed.
The request to display the offer must be accompanied by the offer to sell, information on the land and the seller along with cadastral documents. Our Romanian lawyers can help check these documents.
This request benefits the preemptors who have the right to manifest their intention to buy the land, to accept the offer and to register it within 30 days of the display of the offer to sell.
If no preemptor manifests his/her intention to buy the terrain, the transaction is free and the sale contract is concluded through the certificate issued by the city hall. Subsequently, the sale can be authenticated by a public notary or it can be replaced with the Court’s ruling.
Before commencing the purchase phase, due diligence is reccomended and our Romanian law firm provides this service on demand.
Are there any risks in buying land?
Before buying a land, there are a few documents you either have to verify or obtain:
- – Real Estate Register Excerpt is proof of ownership of the seller and it must be up to date.
- If the real estate register excerpt indicates that the seller is the owner of the property, as there is no prohibition of alienation and encumbrance of real estate and there are no bonds on the property, you ask the seller to show you the title under which it has acquired ownership.
- – Cadastral documentation – to make sure that the field you want to buy has the mentioned area in the real estate register and the location indicated by the seller.
- – Urbanism certificate – in building construction, plot of land must present certain characteristics and meet certain requirements, depending on the placement of the land.
- – Tax Certificate – issued by local authorities, it represents the written stating concerning whether or not there are existing debts to the local budget on the property.
This urbanism certificate is issued by local authorities and is valid for a period of 12 months, renewable for a maximum period of 12 months, and it provides information on: required minimum building site area, minimum distances from the neighbors’ land, minimum size of the opening, the maximum height allowed, occupancy percentage (PLO), the coefficient of land use (CLU). In addition to the information contained in the certificate of urbanism, information on local rules set for construction is provided by Urban Area Plan (PUZ).
Our Romanian lawyers can provide complete information on obtainign these documents. Upon request, our attorneys can also help you with legal representation in front of teh authorities and act as an authorised representative to apply and obtain these documents.
I am a foreign citizen. Can your Romanian lawyers help me buy land in Romania?
According to the law nr. 17/2014, the following subjects may purchase terrain in Romania:
- – Romanian citizens
- – U.E. citizens
- – Citizens of the states part of the Agreement on the European Economic Area (EEA) or citizens of the Swiss Confederation
- – Stateless persons residing in Romania, in an EU country, in an E.E.A. state or in the Swiss Confederation
- – Romanian legal entities
- – Legal entities of states party to the EU, of the states party to E.E.A. or the Swiss Confederation
Citizens of a foreign country, stateless persons residing in a foreign country and legal entities of a foreign country can purchase terrain under the conditions provided by international treaties, on the basis of reciprocity, as provided by Law nr. 17/2014.
However, such individuals must respect the right of first refusal of co-owners, landholders, neighbors and the Romanian state represented by the State Domains Agency, in that specific order.
The right of first refusal is a contractual right that gives its holder the option to enter a transaction with the owner of a terrain, in this case before the owner is entitled to enter into that transaction with a third party.
Not respecting the right of first refusal invalidates the sale contract.
The experts at our law firm in Romania can help foreign investors purchase land in the country.
Why should I invest in agriculture in Romania?
Romania has one of the highest workforce in agriculture and holds the title for the 6th largest agricultural land in the E.U. with over 13.6 hectares of which 8.5 arable, alongside a strategic position on the Black Sea.
Foreign investors control through ownership or long-term land agreements about one million hectares or arable land.
The agricultural land market was liberalized this year in Romania for individual investors, thus gaining major investment potential.
Our company offers a wide range of lands which you can purchase through our lawyers in Romania. For any other information regarding the process of buying land in Romania, the documentation or the representation before the competent authorities, please feel free to consult our specialized lawyers on the matter and contact as whenever you please.