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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?

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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

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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