Month: November 2011

Bulgarian Property Market Trends

"Chicken is not a bird, not abroad Bulgaria" – was a joke in Soviet times. And because, in some degree in every joke there is a piece of the truth, it turns out that Bulgaria is much closer and accessible to Russian than Moscow and buying real estate in Bulgaria available to a greater extent than is possible in Moscow. Only two hours by plane and the Bulgarian Black Sea coast with clean beaches, low prices and decent service, ready to please your soul as well as your portfolio. Despite the fact that almost double eskperty consider raising prices of new homes in Bulgaria for the 2002nd and 2007th year, after all, and in 2008 the real estate in Bulgaria remains the cheapest in Europe. A real estate the Black Sea coast has the lowest prices among the countries with developed tourist infrastructure and the purchase of real estate on the Bulgarian Black Sea is still very profitability. Prices start from 900 euros per square meter, with which you can buy an apartment on the coast of Bulgaria, for about 1500-1800 euro per sq.m. Best Luxury and expensive apartments reach 4 thousand euros per square meter – the prices that the real estate market in Moscow long have not forgotten. With the greatest interest from foreign investors is still using the Bulgarian Black Sea Coast – Sunny Beach and Golden Sands, Varna and Burgas, on the southern resort towns Black Sea Bulgarian coast.

The danger of overpopulation, however, force some of them appeal to a small village in the northern part of the coast-strip – Krapets, Durankulak and others who have undeveloped beaches. The southern part of the Bulgarian Black Sea coast – holiday villages in Lozenets, Chernomorets, Sozopol, Kiten, Ahtopol, Sinemorets, Barbara – attract potential hunters a mild climate, clean nature and proximity to the mountain Strandzha. Prices winter resorts such as Bansko, Pamporovo and Borovets have largely approached the European one. New construction starts from 1200 euros per square meter. Tourism infrastructure, however, fully satisfies the European standards. Recently established trend moving from the investor's interest in well-known summer and winter resorts in more undeveloped sites.

Especially popular mineral springs. I must say that most of the 800 such mineral water basins in Bulgaria, has not yet been developed and used fully. Rapidly rising land prices and apartment in small towns Central Balkan, Rhodope, Rila, but still calm fans can buy an apartment is much cheaper than anywhere in the rest of Europe. According to analyzers, they will be a boom of foreign investment in the country in next few years. Anyway, do not portend downturn in property prices in Bulgaria – its economy is developing actively, the country is a member of the European Union, is to add and coming through 2-3 years accession to the Schengen area. Against this backdrop, experts predict that the trend of rising prices, about 10-15% per year, will remain as much in the next 5 years.

Total Joint Marital Property

Property acquired by the couple during the marriage is their joint property, except in cases where the marriage contract stipulates otherwise. That property, which was owned by one spouse before marriage, as well as a gift or inherited by one spouse during the marriage is recognized only by his personal property. However, if the property owned by one of spouses before marriage, has been greatly improved during their cohabitation (eg, one-story house was rebuilt in a three-story), it can be recognized by the court and the joint property of spouses. It is important to remember that "Marital" does not mean "shared earnings." Even if one spouse during the marriage action did not work, and engaged in child rearing or housekeeping, you still have the same right to the overall joint property, as well as to work and earn a spouse. It should be noted that the regime of joint ownership only applies to relations arising after the official registration marriage in the registry office.

If a man and woman who live together but do not rush to formalize their relationship, then there is a so-called. "Civil marriage" to prove the existence of joint ownership of the purchased items at this time almost impossible – the property will belong to someone who actually bought it. So the official marriage has not only symbolic but also very strong financial foundation. Sometimes there are problems with proving the property belonging to one of the spouses before marriage. Therefore, in some situations it makes sense to make a prenuptial agreement, which will be transferred valuable property each of the spouses, as well as the rules that will be the division of property upon divorce. If there is no marriage contract, all marital property (with the exception of donated and inherited) will be divided half.

Divorce. Property Division. Inheritance Law And The Law

Virtually all citizens, sooner or later face the problems related to property rights. Most often this concerns, such as hereditary cases, the entry in the inheritance, probate, divorce, property division, prenuptial agreement. In all these cases simply require assistance of a qualified lawyer. All documents relating to the marriage contract, inheritance and division of property shall be certified by a notary. In order to correctly prepare all necessary papers, you should consult with lawyers or attorneys in law firms. With regard to the division of property upon divorce, if the agreement was not concluded a marriage contract, the section property acquired during cohabitation and housework spouses, is by the world court.

In this case, all property subject to partition, divide between the spouses in equal shares. At the same time takes into account all factors. Even if the wife is the marriage did not work, it has no effect on its share of the jointly acquired property. It is believed that the household – it is the same work for the benefit of the family. It is also takes into account such circumstances, as a further accommodation of children. Therefore, in order to protect the interests of all persons in marriage recommended conclusion of the marriage contract.

Not smaller problems and waiting for you at registration inheritance. Coming into an inheritance – this is a complex legal procedure. Again, when accompanied by a will most problems solved by itself. If the will is made and there is no dispute among the heirs, the process section of the inheritance can be solved only in court. Civil Code clearly delineates the rights of inheritance, but in practice the interpretation of the law may be different, depending on the specific obstoyateltsv case. Here it should be noted that the will not give an absolute guarantee of entry into law, the estate received. Almost any will be challenged by lawyers. Today Society looks at a different conclusion of the marriage contract, rather than 5-10 years ago. Pragmatic in the best sense of the word, people prefer to pre-negotiate their rights and responsibilities in a divorce and division of property, often protecting themselves thereby from nelitsipriyatnyh litigation. The same can be said about the legacy of the case. Successors, especially in the case of a dispute about the inheritance, prefer to use the services of professional lawyers, thereby protecting itself from material losses.

Single Property Tax

A single real estate tax will be introduced in Russia in 2012 – announced the Ministry of Economic Development and Finance. Who will suffer more: the rich or poor, the company has tried to understand Investment Advisor. A bill to impose unified real estate tax was passed by the Parliament of the Russian Federation in 2005. But because of the inconsistencies of ministries, and then there was a crisis, decided to postpone the project. Therefore, the tax on real estate in Russia may be introduced in 2012 with a three- transition period. Recall that we now have in the country, there are two kinds of taxes – on property and agricultural lands.

Of the concept of "single", just understand that it will replace these two taxes. The main organizer of this project is Ministry of Finance. They say that the maximum tax rate will not exceed 0.1% of the cadastral value of the property. But in the ensuing proraboty "rate can change up or down. With a rate of 0.1% majority of Russian citizens will not be an innovation's impact on the financial situation.

And there is information that, for low-income people, such as veterans, invalids, pensioners and soldiers developed tax deductions. While for the "rich" Russians, who own several real estate or large areas of housing, the Ministry of Finance experts are developing so-called "step-up ratio" – the more "extra" m, the higher the tax rate. Moreover, to determine what and how much is "excess" will be the local authority in accordance with the standards in each region. In general, it is assumed that individuals will pay a tax for owning a residential and nonresidential buildings, structures and land. For legal entities remain the property tax so that different organizations will pay only for residential properties and plots. Most of all may be affected by the introduction of a unified real estate tax retirees who have a large apartment in central Moscow that date back to Soviet times. The cost of these apartments is Tens of millions of rubles, and many elderly people now hardly even pay the minimum bill. But who will assess the value of the property and to whom to entrust this responsibility and how to ensure that assessment was carried out correctly, is still unclear. From the above we can conclude that the introduction of a new tax in each region could be affected both rich and poor Russians. It all depends on how will be held evaluation. Because the introduction of the new tax has one clear goal – to increase fund-raising in the state treasury.

Property Rights Through the Courts

The recognition of property rights through the courts – this is the procedure for obtaining property rights to which recourse citizens and legal persons in case all other means of obtaining property rights have been exhausted. Recognition property rights through the courts can be made in a number of cases of economic practice. We consider these cases in detail. Fairly common case is when a claim for recognition of property rights to the apartment served shareholders in new construction. This is due to those cases where developers have long time did not make out the ownership of the apartment for whatever reasons, mostly related to the harmonization with government agencies. The recognition of property rights to the apartment through the courts is an effective way to obtain property rights in such circumstances.

Another case of recognition of the right property through the court case is the recognition of property rights in connection with the prescription. These are the cases where a person owns the property is open for many years – for real estate for 15 years, for personal – 5 years others do not claim their rights to it, then the ownership may be considered for such a person. Are also common complaints for the recognition of property rights through the courts in cases where citizens are denied privatization of the apartment. The only option in this case is the recognition of ownership of the premises through the courts. In the privatization procedure also can be recognized right of ownership through the courts, for example, in the case death of a person had time to apply for privatization, but not dooformivshego it through. Frequent litigation against the estate. In such inheritance disputes tend to combine several lawsuits requirements, such as the inclusion of property in the succession mass and recognition of property rights through the courts for it. Thus, we examined a number of cases recognizing the right to own property through the courts. However, it is not exhaustive, and there are many other cases where ownership is recognized by the court.