The Legal 500

Construction projects are expensive, and they usually end up being more expensive than agreed. The principal often tries to mitigate this risk by concluding a lump-sum contract.

Romania

Bogdan Ionita and Nicolae Mihu SCA - Schoenherr si Asociatii

Main environmental regulations What are the main statutes and regulations relating to the environment?

Bulgaria

Vesela Mirkova and Elena Andonova-Rangelova - Schönherr

Main environmental regulations What are the main statutes and regulations relating to the environment? 

Austria
Christian Schmelz and Bernd Rajal - Schönherr Rechtsanwälte GmbH

Main environmental regulations What are the main statutes and regulations relating to the environment? 

Der Oberste Gerichtshof beschäftigte sich neulich mit der Frage inwieweit technische ÖNORMEN bei der Frage heranzuziehen sind, ob das hergestellte Werk den "anerkannten Regeln der Technik" entspricht (OGH 22.6.2010, 10 Ob24/09s).

News from the Construction Law
The Supreme Court recently dealt with the question whether technical ÖNORMEN are taken into consideration for the issue of whether the plant produced the "accepted rules of technology" (equivalent to OGH 22.06.2010, 10 Ob24/09s).

Grunderwerbsteuer wird auf Antrag nicht festgesetzt, wenn der Erwerbsvorgang innerhalb von drei Jahren seit der Entstehung der Steuerschuld durch Vereinbarung, durch Ausübung eines vorbehaltenen Rücktrittsrechts oder eines Wiederverkaufsrechtes rückgängig gemacht wird.

Real estate transfer tax, despite withdrawal
Real estate transfer tax is not imposed at the request, if the acquisition process is made ​​within three years since the formation of reverse tax liability by agreement, by exercising a reserved right to withdraw or re-sale rights.

Based on the Hungarian government's proposal, effective as of 27 July 2011, the Parliament passed a new legislation introducing the concept of REIT (Real Estate In-vestment Trust) in Hungary.

The Enforcement and Collaterals Act ("Enforcement Act") was adopted on 17 May 2011, and shall be applicable as of 17 September 2011, save for the provisions relating to the private enforcers which shall become applicable as of 17 May 2012. The aim of the Enforcement Act is to enhance efficiency of enforcement proceedings, which were often drawn out, complicated and ineffective.

According to the BBBP Act, (Official Gazzete of the socialistc RS Nr. 18/1974, 34/1988, 5/1990, Official Gazzete of the RS-old Nr. 10/1991, Official Gazzete of the RS/I 17/1991-ZUDE, Official Gazzete of the RS Nr. 13/1993, 66/1993, 32/2000, 102/2002)),  a tenancy agreement can be ceased with the common consent of the parties at any time.

Eva Hegedüs-Brown

In last year’s Roadmap we reported on those changes to the new Romanian Civil Code that will impact on ownership and other rights in real estate.

Facing the situation on the international financial markets, the Austrian real estate market has stood up well against the sub-prime crisis and remains a stable investment haven.

Stefan Artner MRICS, head of the real estate desk at DORDA BRUGGER JORDIS, reports on current developments on the Austrian and CEE real estate market.