Major legislative changes in the Czech Republic — why investors must act
As a consequence of the recodification of private law in the Czech Republic, changes regarding the treatment of possession, easements and the transfer of real estate will now come into effect. Due to the substantial number of adjustments, Taylor Wessing has highlighted some of the most important changes in this briefing.
Constructions on land is an area that will see significant change. Up until now, under Czech law, constructions (buildings, etc) have been separate legal objects from the land on which they are erected. It has therefore been possible (and in practice not unusual) for the owner of a building to be a different person to the person owning the land.
This changes when the new Civil Code comes into effect. As of 1 January 2014, buildings will be considered legally attached to the land and it will not be possible to sell a building separately from the land on which it is located. In the case where a building and the land on which it is located have different owners, from 1 January 2014 onwards the building will remain a separate object, but only until the land and the building come into the hands of a common owner. Until then, the land owner will have a pre-emptive right to the building and the building owner will have a pre-emptive right to the land…
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