Corporate Works

Deposit of sale price of a house at the notary’s

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How it works

The Competition Act (No. 124/2017) prepared the ” Deposit of Price at the Notary’s”. The new legislation applies from 29 August 2018. The real estate negotiations must have started from that date. According to the law, first of all, the price must be deposited if at least one of the parties so requests, an agreement between the parties is not necessary.

The money on the account of the notary can not be touched and the notary can affect it only for payment to the seller. The seller may not receive the money solely because of damaging events caused by the seller himself: mortgage, seizure. There are no other events that prevent the notary from giving the money back to the seller.

 

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