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What is the meaning of notary fees?

“Notary fees” - The amount of the notary fee is calculated on the basis of the transaction value. The maximum notary fee cannot exceed BGN 3,000 (approximately EUR 1,500). Depending on whether the…

What is the meaning of guarantees according to the Bulgarian law?

“Guarantees” - Corporate guarantees are not governed by the Bulgarian law. Therefore, this security instrument is used mainly when issued by banks. In case of companies or individuals instead of guarantee…

What is the meaning of limitations on acquisitions of properties?

“Limitations on acquisitions of properties” - Before the accession of Bulgaria to the EU ownership of land could only be acquired by Bulgarian citizens and companies duly registered in Bulgaria. Bulgarian…

What is acquisition of property?

“Acquisition of a property” - Property in private ownership is acquired through an acquisition agreement in form of a notary deed. The deed is signed between the parties before a notary public. State…

What is the meaning of ownership rights according to the Bulgarian law?

“Ownership rights” - Full ownership of real property is recognized under Bulgarian law. Ownership can be private or public. Further, ownership rights benefit from constitutional protection.1 Private…

What is Notary Deed?

"Notary Deed" means the notary deed for the sale-purchase of the Apartment between the Seller and the Buyer, which the notary shall deliver for registering before the Registry Agency immediately…

What is Stage of completeness?

"Stage of completeness" means the stage of construction, installation and finishing works, accomplished in the Apartment, including the class of interior, furnishing and equipment, as agreed…

What is the meaning of Latent defects according to the Bulgarian law?

“Latent defects” means the defects, which cannot be detected by the Buyer by way of a regular inspection of the Apartment.

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