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No need for attorneys for the sale of land of low value in Hungary?

No need for attorneys for the sale of land of low value in Hungary?

Hungary
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The Hungarian Chamber of Agriculture (HCA) submitted a package of proposals to the Hungarian Parliament in June 2018 with the aim of improving the competitiveness of Hungarian agriculture.

The package includes a proposal to abolish the obligation to be represented by an attorney at law in relation to the sale and purchase of an agricultural land, provided that its value does not exceed HUF 500,000. According to the new concept, such sale and purchase transactions could be carried out with the assistance of the Hungarian Chamber of Agriculture, however, the obligation to obtain the approvals of the relevant land protection authorities would be maintained. The Hungarian Chamber of Agriculture would also provide legal assistance in relation to the conclusion of agricultural leasehold contracts.

The aim of this proposal is to facilitate the reorganisation of the currently fragmented land structure in Hungary, by reducing the costs related to the sale and purchase of small plots.

By Gabriella Galik, Partner, KCG Partners Law Firm

Hungary Knowledge Partner

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

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