Property Law in Estonia
Property Law in EstoniaUpdated on Wednesday 31st May 2017
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If you are interested in purchasing real estate in Estonia, in residential purposes or in order to accommodate your Estonian company, you may need to be aware of the main aspects contained in the Property Law of this country. This Act was passed in 1993 in Estonia in order to regulate aspects concerning the possessions of goods and properties. The provisions of the Property Law in Estonia apply to every individual and are open to public access. Our Estonian law firm can help you familiarize with the Property Act in Estonia so that you can profit of your rights and be aware of the legal limitations.
Purchasing a property in Estonia
According to the Property Act in Estonia, the possession of a good or property is inviolable and granted by the law. The transaction of a property can take place through the signing of a sale/purchase agreement. Our team of Estonian lawyers can help you conclude a contract so that you can be sure that the transaction takes place in compliance with the local regulations.
Preliminary to the elaboration of the contract, it is advisable to employ a due diligence service for the examination of the property. Through this legal service, one of our attorneys can help you evaluate the property and land and identify potential hidden risks for your investment. Through employing a due diligence service our law firm in Estonia can provide details concerning the legal status of the property in question.
Renting a property in Estonia
Many foreign investors prefer to rent a property in order to accommodate their business offices. The Property Law in Estonia regulates as well key aspects concerning the lease procedure. Some of these aspects refer to the amount of the initial deposit, control of rent increases and conditions for rent increases.
According to the Estonian Property Act, taxes related to housing are supported by the landlord who has the right to motivate a rent increase for purposes of renovation. The rate amount must respect the market value and the housing costs cannot be more than 10% of the rent price.
Our Estonian lawyers remain at your disposal for other questions regarding property regulations in Estonia. Please contact us for assistance with the elaboration of purchasing or renting contracts in Estonia.