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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

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