Material Law regulates ownership, rights in rem, their acquisition and loss, as well as the possession of real estates. Each subject needs protection during the exercising of their rights regarding real estate. It should be noted that the State and the Municipalities possess property which is public or private and this is regulated accordingly by the State Property Act and the Municipal Property Act.
State and Municipal property are strictly regulated and for this reason, private property constitutes greater interest from legal point of view, since it may be property of natural persons or legal entities. In Article 17, Paragraph 3 of the Constitution of the Republic of Bulgaria it is written down that private property is sacred. This means that nobody may exert negative influence on it or encumber it in any way, apart from the hypotheses stipulated by law. In the Property Act, it is written that foreigners and foreign legal entities may acquire property as well, but only under certain preconditions. Several other hypotheses are also regulated which concern Condominium-Project Buildings, whereas to this matter, a separate regulatory action is dedicated.
It is important to note the acquisition of a real estate by prescription. With conscientious holders who hold a certain estate on legal grounds, the acquisition prescription is 5 years. The unconscientious acquisition of a certain real estate, on its hand, is for a term of 10 years, which means that the person does not hold the real estate on legal grounds and here, the legal fact which determines conscientiousness is lacking.
Of material significance are the claims which further the realization of the persons having right over real estates. These may be divided into 2 groups, namely: possession and ownership claims, whereas the latter do not only protect the sacredness of the real estate property, but also support the termination of each groundless action which prevents the owner from exercising their rights and the determination of the boundaries between the real estates.
In the field of Real estate, “Ivanchov & Partners” offer the following:
- Advice in relation with the acquisition of real estates;
- Establishment of material encumbrances on real estates –
pledges, easements, right to use, right to pass and more;
- Communication with State and Municipal authorities in relation with real estates;
- Court and out-of-court division of real estates;
- Legal advice regarding Condominium-Project Buildings;
- Legal support under the State Property Act and the Municipal Property Act;
- Procedural representation before the different types of courts;
- Bringing of and defence under ownership and possession actions;
- Assistance regarding declaration of deals before the Notary Public;
- Layout of the entire vision during purchase and sale of real estates;
- Preparation of preliminary contracts;
- Assistance during letting for rent and preparation of the relevant papers;
- Advice regarding crediting;
Assistance to foreign natural persons and foreign legal entities under deals with real estates;