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Renewal of Land Registry System of Hungary

Renewal of Land Registry System of Hungary

Hungary
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On 24 September 2019 the commencement of the electronical land registry (E-Land registry) project was announced aiming at the development of real estate and land issues. As a result of the E-Land registry, a safer, more transparent and faster system will be established, which would also enable automatic decision-making processes. This step follows the electronization of the administrative processes resulting in the decrease of the lead time and costs of the land registry procedures and the increase of the legal certainty.

Land administration procedures, workflows as well as an information system supporting electronically the data provisions will be created in the framework of the project. As a further result of the development, the consortium managed by Lechner Knowledge Centre (in Hungarian: Lechner Tudásközpont) integrates the handling of the official public land registry and the central land register. The new land registry system must be connected with other data bases, e.g. with the address and population registers.

The development started in 2019 and will finish expectedly by the end of 2021. The new system can be launched following the test period, in autumn 2022.

By Lídia Süveges, Attorney at Law, KCG Partners Law Firm

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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