Legal status of a property – concept / How we can help you
Legal status of a property – concept
Any real estate located on the territory of Romania, regardless of its type (vacant land, land and construction or only construction) has its own legal regime, from a number of perspectives: (i) legal, (ii) technical and (iii) economic.
The concept of the legal situation of a property is understood as an X-ray of the whole property from all three perspectives: (i) legal, (ii) technical and (iii) economic.
The importance of knowing the legal status of a property is fully understood when purchasing it, as any potential buyer wants to know exactly what the characteristics of the property they are interested in acquiring are.
For more details on the legal situation of an apartment in a new residential development / an old building or a plot of land please go to the section Buying a property.
Also, the importance of knowing the legal situation of a property is relevant when a third party damages the property (e.g. occupies it without any right, unjustifiably refuses to return it to the owner, destroys it in whole or in part) because the owner of the property is directly interested in resorting to all legal remedies necessary to restore his violated rights.
For more details on how to recover property from the person who wrongfully (without any right) owns it, please go to the section on Claims.
In summary, the legal status of a property answers all sorts of questions about the property (e.g. what can be done with the property and in what ways, how the property can be used and what conditions are imposed by law, how the property can be protected against unlawful acts, etc.).
The legal situation of a property allows the following questions to be answered:
which rights are attached to the property (e.g. right of ownership, surface right, right of use, right of way, etc.);
- what the rights over the property consist of and how they can be exercised (e.g. what prerogatives the owner has, what freedoms the holder of a right of use over the land has, etc.);
- who are the persons who have rights over the property (e.g. owner, tenant, mortgagee, etc.);
- who are the persons who can claim rights over the asset (e.g. pursuing creditors, state authorities, etc.);
- in what ways the asset can be used, i.e. what are the restrictions on its use (e.g. whether it can be leased or not, whether it can be rented or let free of charge, etc.);
- what are the legal remedies in case certain rights over the property are infringed / affected (e.g. illegal occupation of land gives rise to the possibility for the owner to claim it).
For more details on the rights of the owner of the property, please see the section on Property rights.
How we can help you
Our team of lawyers can provide you with legal advice on the legal situation of any property in order to fully know and understand where you stand, what and how you can achieve it and how.
Additional information on the legal status of a property