Distraint – privatization
Distraint – privatization
The joint real estate and law firm JURIS REAL, spol. s r.o. offers assistance in privatization of housing stock, debt relief or the purchase of real estate burdened with a distraint (or more distraints).
We use a broad portfolio of lawyers for these activities. When privatizing the housing stock of cities and municipalities, we base our activity on the knowledge of our external lawyers who, among other things, have worked in the offices of municipal districts in the metropolis, or have been members of housing committees at municipal authorities.
Are you currently privatizing a municipal apartment in which you live? Do you have insufficient funds to buy this property? We will help you as we have many years of experience in this area (see above).
In order to help you with the privatization of the apartment to our best, we recommend you a personal tentative meeting with our experienced real estate agent or a lawyer who will thoroughly discuss with you the purchase of the apartment from the municipality, including the estimate market price of the apartment, legal service, payment of the purchase price to the municipality (or municipal district), debts, distraints, taxes, and, of course, a possible subsequent sale and purchase of new housing.
In case of privatization of the housing stock owned by the Prague City Hall, we will help you with the establishment of a housing cooperative (or an association of unit owners).
Privatization Loan with JURIS REAL, spol. s r.o.
We will lend you funds for the purchase price of the apartment up to a half of its market price. You can use some of this money, for example, to settle rental debts or distraints, or for other needs. We provide full legal service, of course. We will be happy to help you sell your apartment and arrange for the purchase of new housing at a location of your choice, with sufficient financial reserve security for the future.
In conclusion, our legal and real estate services in housing stock privatization can be presented in Mr. Petr's case (question) which we have successfully resolved (see below).
Mr. Petr's question: I plan to buy an apartment in privatization from the Municipal District of Prague 1 (in its historical centre), but unfortunately I owe "big money" on the rent. What should I do? I have education in arts and I do not know much about legal issues. Could you advise me please? I have lived in the apartment with my mother since my birth and I really like its local genius loci. There are not many old residents here any longer. I would also like to continue attending the At Rudolfinum pub with local pub goers.
Answer by JUDr. Tomáš Mádl, Director and Managing Director of the Joint Real Estate and Law Firm JURIS REAL, spol. s r.o.: Dear Mr. Petr, the condition for a successful purchase of the apartment, undoubtedly, is the fact that there are no rental debts payable to the Municipality of Prague 1. If you have a serious interest in buying the apartment, you must pay the encumbering rental debts. If you do not have enough money to cover your debts or the purchase price and you still want to acquire the property in privatization, you need to borrow the funds to be able to purchase the apartment, preferably at the mortgage institution, or turn to a reputable real estate agent cooperating with lawyers.
If the apartment is located in an interesting location (which the territory of Prague 1 undoubtedly is) and we, or our client, are interested in buying the apartment from you, we can agree on mutually beneficial assistance and cooperation when following the sale of your apartment we will broker the purchase of a substitute apartment of your choice.