KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ROMANIAN LAW -
I. Types of Real Property Transactions -
A. Purchase of an undeveloped plot of land (agricultural);
B. Purchase of a buildable plot of land (with or without a building);
C. Purchase of a building without the land (with superficies right over the land);
D. Purchase of a flat (condominium);
E. Purchase of a company having real estate assets.
II. Major Content of the Purchase Agreement -
The contract must include parties’ identities, description of the real estate (address, surface area, buildings, cadastral number, and Land Book registry number), purchase price (which must be serious – not derisory, real – not fictitious, and determined or determinable), as well as the main obligations of the parties (i.e., to transfer the property rights and to pay the price).
Please see full Chapter below for more information.