Specialists in Bulgarian property law - who you need to contact when buying property in Bulgaria
When buying property in Bulgaria you will incur a number of unavoidable extra expenses. Some of these will relate to legal services and the requirements of Bulgarian property law, so they cannot be avoided. Once you have decided on the property in Bulgaria you want to buy, you will have to contact either a UK-based or Bulgarian solicitor.
Bulgarian property law -- UK solicitors
There are a number of UK solicitor firms who specialise in Bulgarian property law. It is essential to use a firm with an office in Bulgaria and Bulgarian speaking solicitors in the UK.
One expert is John Howell & Co, a UK-based firm specialising in international law. The company has many years experience of Bulgarian property law and will be able to help you through the process of buying property in Bulgaria.
Bulgarian property law - Bulgarian solicitors
As soon as you launch into the process of buying property in Bulgaria, you will need to engage the services of a solicitor who specialises in Bulgarian property law.
They will give advice and guidance at each stage of buying your new property in Bulgaria and, more specifically, will:
- Confirm ownership details in the property register and check if any debts are registered against your property in Bulgaria
- Advise you on how to proceed if any encumbrances are discoveredDraw up and complete all the paperwork necessary to set up a limited company if you are not buying your property in Bulgaria as an individual
- Examine the preliminary and final contracts
- Sign all documents if you have given power of attorney
- Lodge your property in Bulgaria with the tax authorities
Employing reputable Bulgarian solicitors will greatly reduce the stress involved in buying property in Bulgaria. If you have given power of attorney to your Bulgarian solicitor, you will not even need to be in Bulgaria at the time of completion.
Bulgarian property law - the notary
A Bulgarian notary is a publicly appointed government official. He or she is a qualified civil servant whose primary function (in the conveyancing process) is to certify that all matters brought before them for signature comply with Bulgarian property law.
One of their functions is to witness the buyer and seller sign contracts. Under Bulgarian property law, no sale of property in Bulgaria may be completed without the endorsement of a notary.
The notary is also responsible for registering the new owner of a property in Bulgaria in the local land registry, and collecting the municipal tax (the Bulgarian equivalent of stamp duty).
You should remember that something may not be in your favour but can still be perfectly legal. The notary is not there to safeguard your interests as that responsibility falls to your UK or Bulgarian solicitor.
Buying property in Bulgaria - translators
Unless you can write and speak fluent Bulgarian, employing the services of a translater is essential if you are planning to buy property in Bulgaria. Estate agents may offer you the services of a translater but, as with employing a Bulgarian solicitor, you should always pay for an independent service. Large sums of money are involved so it worth protecting your own interests when dealing with Bulgarian property law.
