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Settlement Procedure Before Notary Public in Hungary

Settlement Procedure Before Notary Public in Hungary

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As a result of the new Hungarian Code of Civil Procedure, from 1 January 2018 the parties of a dispute may conclude a settlement in civil cases before a public notary without initiating a court proceeding in the framework of a new non-litigious procedure.

A settlement procedure before a notary public may only be conducted if at least one of the parties has residence (registered seat) in Hungary and the parties are able to freely dispose over the subject of the proceeding.

The new provisions of the act on certain non-litigious notarial procedures list the cases when no settlement procedure may be initiated before a notary public, such as cases relating to intellectual property rights, personal status or public assets.

In the settlement procedure, no taking of evidence may be performed. The settlement agreement approved by the ruling of the notary public will have the same effect as an agreement approved by a court.

By Levente Csengery, Partner, KCG Partners Law Firm

KCG Partners at a Glance

KCG Partners is a Hungarian business law firm providing a comprehensive range of legal services to international and local clients seeking local knowledge and global perspective. The firm comprises business-minded lawyers with sector-specific expertise, creating value for clients by applying a problem-solving approach and delivering innovative solutions.

The firm has a wealth of knowledge in corporate law, M&A, projects and construction, energy, real estate, tax, employment, litigation, privacy and forensics, securitization, estate planning and capital markets.

To address clients’ regional and international concerns, the firm maintains active working relationships with other outstanding independent law firms in Central and Eastern Europe, whilst senior counsel Mr. Blaise Pásztory brings over 40 years’ of US capital market and fund management experience.

KCG Partners Law Firm is the result of the teamwork of passionate and talented lawyers guided by the same principles and sharing the same values: 

  • Our most valuable asset is our people. They are the engine of our business and the key to our success.
  • We push boundaries by looking for innovative solutions that can empower our clients to achieve greater results.
  • We place our experience, commitment and professionalism to your service.
  • We are driven by our vision to shape and lead the Hungarian legal market and become a first choice law firm in our practice areas.

Firm's website: http://www.kcgpartners.com