Make sure you are the real owner of your apartment and there are no burdens on your property.
Title deed is the official document which contains the details of the property including the exact address, lot number, size, etc.
We collected the most typical problems:
Ownership problems
Unfortunately landlords not always check whether the lawyer they used finalized the registration of the ownership at the Land Registry Office.
Sometime it is discovered only years after the purchase that the official owner of the property is still the seller…
Watch our short video: Are You the Owner of Your Property Indeed? - About the Title Deed in Hungary
Unpaid tax
Outstanding personal income tax or building tax can be registered on the title deed as a burden as well.
- Personal income tax is collected by the Hungarian National Tax Office (NAV). Income tax is currently 16% of the yearly income.
- Building tax is a kind of local tax charged by the Local Government / Municipality. You don’t have to pay it in every district. The actual amount differs by district and the rate is based on the size of the apartment.
Common cost or public utility outstanding
Sometimes in case of unsuccessful collection process the House Condominium or the utility providers are put a mortgage on the property as well.
Even if the reason is a bad tenant who did not pay or the mismanagement of an unprofessional property manager, in the end of the day the owner have to pay.
Read more about the 3 things which can cause big headache because of your Budapest investment
Makes sure you have a clear Title Deed!
