Hungary:
New Regulations On The Register Of Condominium Managers, Real Estate Agents And Property Evaluators
16 May 2018
KCG Partners Law Firm
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As of 1 January 2018, a new government decree (Decree) entered
into force on the detailed regulations of the commercial activities
of condominium managers, real estate managers, real estate agents,
property evaluators and agents. In case of providing such
activities on a commercial basis, the real estate company
supervisor authority, i.e. the district and the county government
offices or the notary of the municipality of the competent town
must be notified. The content of the notification is also detailed
by the new provisions.
The Decree states that service provider activities may be
performed by a natural person or a business association complying
with special requirements (e.g. specific qualification or scope of
activity).
The authority must keep a register on the service providers and
the new laws determine also the cases when the authority must
cancel the service provider from the register or forbid the service
provider to provide activities.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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