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Notary Public

The Public Notary is  a public official appointed by the Minister of Justice. It is the  impartial witness and especially the guarantor,  of the agreements and legal instruments that it draws up (known as "Authentic Notarial Acts"), which have the same status as and court decisions. The notary public archives all the documents that have been submitted to a notarial procedure, which makes it very easy to issue duplicates after them as often as necessary.

The role of the Notary is not only important in real estate transactions, his competence and knowledge also cover issues of family law including matrimonial regimes, commercial law, private international law, urban planning and construction legislation, real estate advertising, any field of civil law being in addition fiduciary officer.

The notary is there to clarify the issues and advise his clients on the most appropriate legal solution for their situation and on the consequences of the commitments they assume. 

All information is treated as confidential and is subject to a strict code of ethics.

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THE NOTARY PUBLIC - A KEY ACTOR IN URBAN RENEWAL

Stefania Zorila, notary public
The role of the public notary in real estate development 
- creator of a real estate strategy

In the field of real estate development, this role becomes much more complex, surpassing the traditional role of the public notary for authentication of sale-purchase documents. The public notary advises real estate developers and investors, throughout the development of their project, from planning to the completion of a real estate development, helps them establish a strategy from the moment of identifying the property that will be the object of the development and until the delivery of the homes to their beneficiaries.

 

Whether it is the identification and subsequent acquisition for real estate development of a buildable plot of land, free or occupied by old buildings or even a condominium building, the notary public  ensures a favorable legal environment for each stage, including compliance with the constraints arising from the legislation on urban planning and construction authorization, environment, but also from co-ownership law and public law.

 

Knowledge of this legislation allows the notary public to inform its clients about their obligations and the risks they assume in the case of the purchase of real estate encumbered by various servitudes, with the risk of expropriation but also about the problems raised by the condition of the soil, the utility networks, offering personalized and innovative solutions to enable the realization of projects.

 

Also, the public notary can advise his clients regarding the financing of real estate development projects both for real estate developers and regarding the conditions for granting financing for their potential clients. At the same time, the public notary guides his clients in order to ensure a financial optimization of the development project, as well as in order to achieve a sustainable development, being at the same time a partner of the state, collecting for it the taxes generated by the income resulting from the transfers related to the real estate development.

Of course, it ensures compliance with the legislation regarding the sale of real estate and the protection of buyers. 

The public notary is a key actor in urban renewal, at the center of which is real estate development, offering legal security and vision, collaborating in favor of sustainable development and urban transition, using the legal means available for the legal organization of real estate development projects.

See also:

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INTERVIEW Stefania Zorila, Notary Public, Aequitas Aviatorilor: ,,Purchase of a new or under construction apartment,,
Paper Abstract
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NOTARY PUBLIC -
PROTECTOR and ADVISOR of his clients

Oana Ligia Cristudor, notary public
The Public Notary and its increasingly prominent role in taxation

The fiscal field is one of the most dynamic in terms of changes, and many of the fiscal aspects are closely related to the activity of the notary.

As we have evolved as a society, the public notary came into contact, in one way or another, in almost every aspect of its activity, with the fiscal field. Whether we are talking about alienation documents, whether we are talking about inheritances or about associations between natural and/or legal persons in order to build some constructions, the public notary must be in constant preparation for the news in the fiscal field.

In addition to the attributions of collection and transfer, based on own human resources, of the tax derived from the transfer of property rights, the verification of the conditions for the application of the reduced rate of VAT as well as the exceptions regarding its application, is again of interest.

The Romanian State granted citizens, as a social protection measure, the right to benefit from a reduced VAT rate when purchasing a property from a person registered for this purpose. In the last 5 years, the law regarding the reduced rate of VAT, respectively the Fiscal Code and its method of application, has undergone numerous changes, some legislative proposals even appearing during the year, leading to a slight annexation on the real estate market.

It is easy to understand, because the easiest way to understand both the changes in the tax field, as well as how they directly impact the client, is a consultation with the public notary.

The latest changes in the fiscal field with an impact on the notarial activity, are those related to the E-Invoice system accessible from the Virtual Private Space, the VAT Register in which purchases made with a reduced VAT rate are checked and registered, as well as Declaration 208 in its modified version, which is a tool for analyzing real estate transactions subject to taxation upon the transfer of ownership.

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Here you can learn more about Notary Services

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