Regulatory background
Author | Hristova, Nataliya |
Pages | 7-17 |
Consum er mar ket stud y on the fun ctio ning of the r eal estate servi ces for consum ers in the EU – Coun try Fiche Bu lgaria
1.Regulat orybackgrou nd
1.1Lev el of regulat ion in the country
Ta ble 1: L eve l o f regulation
Lev el of re gu lat ion
Sou rce of re lev ant
le gisl ation
On going discu ssion on re gu lat ion / de re gul ati on (i f
ap plica ble ): cur rent st at e of af fair s an d m ai n a rgu me nt s
in th e d ebat e
Real estat e
transactions2
Form alit y, regi strati ons a nd
ident ity checks–st rictl y
regulated
Law on obliga tio ns an d
con tr act s 1 95 0 – regulates
th e oblig ator y form of
pr oper ty transact ion s
Ru les of Lan d r egist ra tio n
pr ocedu re 1 95 1 - regulates
pr oper ty transact ion s’
registrati on pr ocedu re in Lan d
register
Cod e o f civi lpr oced ure
2007 –regulatest he not arial
pr ocedu re for prop ert y
tr ansact ions and t he
obl igat ory cont ent of n otarial
deed
No
Not ary syst em ( or
law yer /co nveyancer
sys tem ) 3
Stri ctly regulated
No ta rie s a nd Not ar y
Act ivity Act 19 97 - / see
Tabl e 16 /
Cod e o f civi l pr oce dur e
2007 – as a bove
Ta rif f f or No ta ry fee s 1 99 8
None
2E.g. lim ita tion s or pro hibit ion s of cert ain t ran sacti ons; spe cific form alit y r equ irem ent s etc .
3Only in coun tri es wh ere nota ries do no t ex ist or do no t h ave a mo nopol y on conv eyan cing .
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