Budapest Property Ownership / Title Registration

S

Sandylab

Guest
Hi,
I closed the purchase of an apartment in the Sun Palace development approx. 10 months ago. I have attempted since then to get some indication that I actually own the premises from my lawyer in Budapest but have received nothing but vague promises regarding any documentary proof of this. I thought the title deeds should be registered in the Land Registry office ? How long does this usually take ?
Any comments or other owners experiences would be appreciated !
 
Hi Sandylab,

We manage apartments in Sun Palace. All of our clients are in the same shoes. Owenership issue is discussed with solicitor and developer as well. The special case in Sun Palace due to the followings:

- Phase 1 and Phase 2 will be ONE condominium

- Until Phase 2 is completed Title Registration will not be taken place in the Land Registry Office

But there is a best practice how to solve the situation such as Sun Palace. I suggest you contact your solicitor and these documents should be given asap:

1. a purchasing contract is authorized by Land Registry Office


Normal purchasing agreement is almost nothing in this case especially if you want to re-sale the apartment before phase 2 is completed


2. An application to Land Registry Office in which your ownership is clarified


The application is to be taken place even if ownership is not registered until phase 2 is completed


3. official owners' list of SunPalace (ownership certification of SunPalace) issued by Land Registry Office


This is a long list in which all property onwers' details are registered according to apartment details.


Please note that exclusive ownership certification/Title registration cannot be taken place until phase 2 is completed. However, these 3 documents above, should be received as soon as possible.

If your solicitor is Dr. Biro Peter he will know what you need. But be very anxious and enthusiastic because the solicitors in Sun Palace are very very lazy.


All the best
 
Last edited by a moderator:
sandylab.

at the moment there is one land registry sheet for the whole project, presumingt that you have signed a final sale and purchase agreement, and you received the premission to buy as a private buyer you name should be on this title together with the names of all the buyers inthe project.
once the developer will complete the whole buiding there will be individual land registry sheets for each apartment including yours
 
sandylab i have the same problem (of a very lazy solicitor) in a different development and with no title deeds showing up .
so i asked for and got a copy of the Land Registry Sheet showing my name on the margin at least its something
it means that i have the right to buy this property over anyone else
hope this is of some help.
 
hopper, it is not always a matter of a lazy solicitor, there are some regulations as to when can the developer regsiter the apartment as a unit with a separate title, it depands on the stage of the construction and the availability of the usage permit to the project
 
very true lee-m BUT this development finished in oct 05 with handover in dec 05 and my apartment was rented out in feb 06 and there is good demand for new build in good areas.
and still no deeds i do know it takes time but how much ?
 
Hopper,

It sounds very serious. Deeds should have been taken place in a couple of weeks especially if you purchased an apartment in a smaller development. It seems this is your solicitor's fault. Take steps immediately to make things clear because this is a serious mistake. For instance, your solicitor may lose the right to be a solicitor if BAR assocition was informed.
 
hopper let me know which development it is maybe I came across it, I know of a building in sziv utca which takes more then 2 years to get the usage permit, it does not mean that you can not use the apartment - this is on the gray side of the law. but the land registry office will not create a separate title for the property without the usage permit
 
Hi,
Thank you all very much for your informative replies, especially 'Hungary', who I have noted from other threads is a font of professional knowledge !
I will take your advice and request the documents mentioned from my solicitor ( naming no names but I think you are most perceptive !).
Cheers.
 
Sandylab said:
Hi,
I closed the purchase of an apartment in the Sun Palace development approx. 10 months ago. I have attempted since then to get some indication that I actually own the premises from my lawyer in Budapest but have received nothing but vague promises regarding any documentary proof of this. I thought the title deeds should be registered in the Land Registry office ? How long does this usually take ?
Any comments or other owners experiences would be appreciated !
Click to expand...

I have had the very same experience with the Sunpalace. I concluded the contract last October and I still cannot get a title deed. They keep giving me excuses that the title deeds will only available when Phase 2 is finished. Given that Phase 1 took so long, that could be years from now.

I am going to have an independent lawyer look into this whoole contract.
 
Dear La Florida,

I'm in exactly the same position having completed in May 2006. Needless to say there has been many a sleepless night worrying about it. I would be very interested in getting together with anyone who is in this position and putting group pressure on both the developer and solicitor. The contributor known as 'Hungary' states clearly what we as purchasers are entitled to have in the form of legal paperwork. I am seriously considering taking this matter to the BAR of Hungary. Would love to hear how you are getting on.
 
Sandylab said:
Hi,
Thank you all very much for your informative replies, especially 'Hungary', who I have noted from other threads is a font of professional knowledge !
I will take your advice and request the documents mentioned from my solicitor ( naming no names but I think you are most perceptive !).
Cheers.
Click to expand...

Dear Sandylab,

I'm new to the site so am a bit late in adding my response to your query. I'm in exactly the same position as you. Still at the stage though where I call my solicitor every Monday morning and listen to his usual false promises. I'm totally at wits end and would love to hear if you've had any success obtaining something more concrete from either the developer or solicitor.
 
Hi all,

It seems that this subject is gathering momentum. I have actually referred the matter to the Hungarian Bar Association on a personal level. However there is an Owners Action Group being formed to bring pressure to bear on the sales agents and Engel.

If you would like to join just post a reply and I will give you details.
 
Is there any update to this thread?

Have people received their Deeds? I'm still waiting on mine for one place in Dis.6, 18months on from completion of a small development without any building issue that I can see, and on-time.

The latest I've heard is that there may be no need for a deed (explained as follows):

In budapest, we don’t have that kind of ‘deed’ in Hungary as it is know in the Anglo-Saxon legal systems. The buyer obtains the ownership title when it is entered on the land register.
From that time the owner verifies the ownership title with the extract of the Land Registry (which is commonly called: the property sheet). The Land Registry Office releases the extract and you can get as many as you need for HUF 3.000 -/copy.
The registration procedure takes one to six months from the time of filing the necessary documents at the Land Registry Office.
 
You're right, paddyd but it's still important to check if your name appears on the Hungarian equivalent, the 'tulajdoni lap'. Ask your solicitor to send you an up-to-date version of this. He probably won't charge you. If your name is on it in the correct place, then you don't need to actually have any 'deeds' in the Irish sense.
 
I have bought on Sun Palace phase 2 and am having great difficulty in finding out when it is likely to be completed.

I am reliably told that it is way behind schedule. Does anyone else have any idea when they think phase 2 might be completed?

Also, what is the resale/rental potential like on the site?

thanks
 
Hungary said:
Hi Sandylab,

We manage apartments in Sun Palace. All of our clients are in the same shoes. Owenership issue is discussed with solicitor and developer as well. The special case in Sun Palace due to the followings:

- Phase 1 and Phase 2 will be ONE condominium

- Until Phase 2 is completed Title Registration will not be taken place in the Land Registry Office

But there is a best practice how to solve the situation such as Sun Palace. I suggest you contact your solicitor and these documents should be given asap:

1. a purchasing contract is authorized by Land Registry Office


Normal purchasing agreement is almost nothing in this case especially if you want to re-sale the apartment before phase 2 is completed


2. An application to Land Registry Office in which your ownership is clarified


The application is to be taken place even if ownership is not registered until phase 2 is completed


3. official owners' list of SunPalace (ownership certification of SunPalace) issued by Land Registry Office


This is a long list in which all property onwers' details are registered according to apartment details.


Please note that exclusive ownership certification/Title registration cannot be taken place until phase 2 is completed. However, these 3 documents above, should be received as soon as possible.

If your solicitor is Dr. Biro Peter he will know what you need. But be very anxious and enthusiastic because the solicitors in Sun Palace are very very lazy.


All the best
Click to expand...
 
Does anyone know when phase 2 of Sun Palace is likely to be completed?
 
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