He strengthens our team primarily in corporate and commercial law, M&A and capital markets.
TO THE POINT
On March 20, 2024, the National Council approved a temporary exemption from fees for the registration of ownership rights and liens in the land register, which applies under certain conditions. This legislative reform is intended to boost the construction industry, as the exemption from land registry fees is intended to make it easier to purchase residential property.
In comparison: In principle, when acquiring ownership of a property, the buyer must pay land transfer tax (3.5% of the purchase price) and a land register registration fee (1.1% of the purchase price) in addition to the purchase price. An additional lien registration fee of 1.2% of the value of the lien is payable for the registration of a lien as part of the financing of the purchase.
In their specialist article, attorney Nina Mitterdorfer and associate Teresa Andessner from the DSC Real Estate team discuss the new legal situation and provide important information on the requirements for an exemption from land registry fees.
The article is an exciting read for anyone working in the real estate sector or interested in the topic of residential property financing.
He strengthens our team primarily in corporate and commercial law, M&A and capital markets.
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