Tax & Legal Highlights for Real Estate – May 2019
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1. Economic committee of the Council of Ministers had adopted new project of Act on the Development Guarantee Fund
The Office of Competition and Consumer Protection (UOKiK) prepared project of the act on protection of rights of buyers of housing apartments or detached houses. The project envisages, among other things, creation of Development Guarantee Fund, to which all developers shall contribute. According to UOKiK’s project the developer shall pay contrubition to the Development Guarantee Fund, from each payment depending on the type of account kept. The main goal of the proposed changes is to ensure greater protection of buyers of real properties, in particular, by eliminating the risk of losing funds by buyers.
2. Planned changes in the Act on transformation of the right of perpetual usufruct to the land developed for housing purposes into the ownership
According to a new project of the Act on Domestic Real Estate Resources, which introduces changes also to the Act on transformation of the right of perpetual usufruct to the land developed for housing purposes into the ownership, the enfranchisement will also take place in case on the land there are other buildings than residential one, if their total usable area does not exceed 30% of the usable area of all buildings located on this land. The project envisages, among others, ability to sell residential premises without prior statement of conversion. The notary will provide an extract of the notarial deed to the municipality, which will issue the relevant certificate to the buyer.