In no case! By law it is always the seller who is obliged to pay the real estate transfer tax within 30 days from the record at the latest, i.e. from the time when property right of the buyer was entered into land register. According to law you as a buyer are only a guarantor of the payment of this tax. If a seller has not paid the tax and the respective revenue authority has not recovered the payment of this tax with a court, the revenue authority would contact you, and you would have to pay the tax. To prevent such inconveniences, and to protect our clients from failure, we normally make an offer to clients to leave a part of purchase price corresponding with this tax (3 % of the purchase price) in deposit FREE OF COST. After the entry, and on the grounds of a submitted tax declaration we than pay this amount directly to the respective revenue authority.

Without their consent, or without making an offer for a repurchase of a share in common property to the other co-owners within their statutory pre-emptive rights you may only transfer your share in the common property in case of a transfer to a next of kin (i.e. to a direct line relative – your parents, children, grandchildren etc.), a brother or a sister, and a spouse. In other cases it is necessary to make a written offer of the share in common property to the other sharing co-owners for a repurchase. Within two months from the offer they are obliged to enter into a contract with you, and to pay the price requested by you, or to fulfil other conditions stated in the offer. If the co-owners fail to do so within this time limit, their statutory pre-emptive rights terminate, and you may transfer your share in common property on the same conditions you have stated in the offer to any third person. In this matter, however, I call your attention to the fact that the market value of this share in common property for sale is markedly lower than if you were selling an apartment as a unit assigned in the house in question according to Act No. 72/1994 Coll., on ownership of flats. Moreover a potential buyer will not be able to draw a mortgage credit to purchase a share in common property, because as a standard banks do not grant mortgage credit for this type of purchase. This will also narrow down the field of people with a possible serious interest in the purchase. Therefore prior to the sale proper I would recommend you to consider whether it would be meaningful to carry out the assignment of flats as units in the house after the agreement with your brother and sister. Obviously we are prepared to provide you with the necessary information in this matter, and to help you in resolving this situation, to find a suitable person interested in the purchase, and ensure all contractual and legal requirements related to the sale.

If you let out an apartment bought on a mortgage, the rental incomes are liable to income tax. In such case you cannot claim the paid interests on mortgage credit as a deductible item on income tax base. However you will be able to claim the paid interests as a deductible expense against the rental incomes. Moreover, some banks include the future letting in a certain percentage into your net income on the grounds of which the bank evaluates your solvency for acquiring of the mortgage. With some banking institutions this percentage may amount to as much as 70% of the future incomes from letting of the new apartment. Such investment is very advantageous, and the incomes vary between 5 to 10% p.a. of the purchase price, regardless of the continuous growth of the real estate price itself. Our company ensures such advantageous investments including the subsequent letting and a complete service related to it.

The transfer of membership rights and obligations in a cooperative housing society is governed by the provisions of § 230 of the Commercial Code. On the grounds of an agreement the transfer of rights and obligations related to a cooperative housing society membership is not subject to the consent of the cooperative society bodies. Member''s rights and obligations related to membership are devolved upon the assignee in relation to the cooperative society by a presentation of a contract on membership transfer to the respective cooperative society, or at a later day stated in this contract. As soon as the cooperative society is in receipt of a written notice on the membership transfer by an existing member, and a written consent of a membership assignee, the same effects as with submitting of a contract on membership transfer occur. 

Yes, a real estate transfer tax applies to the sale, i.e. 3% of the price of the property ascertained from expert opinion or purchase price, whichever amount is higher. Income tax also applies but there are many possibilities to exempt you from this tax; for this reason I am unable to explicitly write down the amount of this tax or all aspects of this taxation. Most real estate agencies cooperate with tax advisors, therefore I recommend you to contact experts to consult your case. If you assign the sale of your house e.g. to our real estate agency, a part of the sale service will also be all consultancy including filling of the tax declaration and elaboration of an expert opinion free of cost.