Collecting Title Deed
Following the provisions of the Bulgarian legislation, the title deed for ownership of property is a standard sales contract, to be signed between the seller of the property and the buyer, on the other hand. This has to be done in person or via legal representative, before a local notary public in the area whare the Bulgarian proeprty is situated. Once the Title Deed for ownership is signed and witnessed, then the notary public registers it at the same day, in the Land Registry Agency in the area. Which means that usually on the next day, an original of the Title Deed should be available to be picking-up, again in person or via legal representative, at the office of the notary public who has witnessed the deal the previous day. If you have bought a real estate somewhere in Bulgaria via signing a Title Deed for ownership, or alternatively have sold a Bulgarian property, but haven’t received the original of your Title Deed and receipts for the taxes paid and related to the purchase, we can do it for you. On your behalf we may find out the details of the Deed, then to pursue where signed and in which local Land Registry Agency registered, and then to visit it and obtain for you new original of the Title Deed (and receipts for the paid property transfer charges). It doesn’t matter in which region of Bulgaria the Deed has been signed and registered – we work nationwide and we are capable to help you. This original then we may: - translate for you in your language, for your convenience, which signed translation to attach to the original of the Deed when posting it to you. We have translated Title Deeds in the mostly spoken languages of foreign investors – English, Russian, Spanish, Greek. - advise you on the characteristics of your signed Title Deed: It is very likely if you haven’t signed the Title Deed in person, but using someone else for this, then not to be informed about the actual clauses of a contract which is designated and signed by your represntative in Bulgarian language, which obviously you may not understand, but still to be fully obliged with the clauses of the Deed. In our pracitce there are many examples of negatively surprised property owners who have got lower prices detailed in their Deed without being informed about such procedure prior signing of the Deed; who have got Title Deed excluding a Certificate for exploitation, just because the representative has “forgotten” to inform the buyer that actually there is no Certificate for Expoitation issued for this property (i.e. impossible to re-sell later); or simple there could be a clause put by the developer with the agreement by your rerpesentative, to protect only their interests, respecitively to harm your rights as an owner. This is why we can examine for you the Title Deed and to advise you about the terms and conditions of this signed Bugarian contract. - check if you in your capacity of foreign property owner have been registered with Bulstat Tax ID card and then if the property has been registered at the local Tax Authorities as well within the deadlines provided by the Law – if this hasn’t been properly done previously, then we can do it for you on your behalf, where you will get an individual identification tax number, if this is your 1st property purchase in Bulgaria. The card could be posted to you together with the Deed, and we will apply on your behalf with a Tax declaration. - For many property owners it could be unknown, that in Bulgaria there are annual property taxes charged by the local Authorities – just like in your own country you pay annual taxes for owned real estate in Bulgaria. We may check for you the annual property taxes due and when requested by you – to pay these on your behalf and to present to you the receipts for your records. - Finally to post the originals of the documents to your provided home address os you can keep them in your records. Note that nce performed, we can always on a later stage advise you about your ownership, about prospecitve legal activities like re-sale or renting out of the property, to prepare a will for your Bulgarian property, next year to check again the annual property taxes due, etc. If this is you case, please feel free to write to us for more information and a quote.