The new Act C of 2021 on the Land Registry will enter into force on October 1, 2024, and this will bring about a fundamental change in the procedures related to real estate transactions. The new legislation will allow for faster and more convenient administration, but it will also require legal entities and natural persons to use electronic signatures or Identification Based Document Authentication.<\/p>\n\n\n\n
The new Act on the Land Registry is expected to enter\ninto force on October 1, 2024, and it will make the partially electronic land\nregistry procedures compulsory.<\/p>\n\n\n\n
One of the main innovations of the act is the\nintroduction of the E-Land Registry (hereinafter \u2018E-Land\nRegistry<\/strong>\u2019). Generally, applications to the Land Registry will\nbe submitted via electronic filing and not in hard copies. The legal\nrepresentation will be mandatory in all land registry procedures. In land registry\nprocedures legal representation may be provided by an attorney-at-law, a registered\nin-house legal counsel, or a public notary.<\/p>\n\n\n\n The method of authorising a legal representative to\nact in a land registry procedure will also change in future, all persons\nconcerned \u2013 and not only the buyer of the real estate – will have to\nunanimously authorise the attorney-at-law to represent them in the procedure in\norder to register rights or facts in the E-Land Registry.<\/p>\n\n\n\n The Implementing Regulation of the new Act on the Land\nRegistry requires that the authorisation of registration granted by the owner\nof the real estate is created on an electronic form provided for this purpose.\nThis must be signed by the owner with a qualified electronic signature or\nauthenticated by the Identification Based Document Authentication service (hereinafter\n\u2018AVDH<\/strong>\u2019) in the personal\npresence of the attorney-at-law acting on behalf of her\/his client in the\nprocedure. The AVDH is a free service provided by the Hungarian State,\navailable to all individuals with a Client Gate, which provides qualified\nelectronic signatures (Client Gate access can be provided by any Government Office\nor by online registration with video identification, for further information,\nsee the following webpage: https:\/\/magyarorszag.hu\/szuf_avdh_hasznalati_utmutato)<\/p>\n\n\n\n While at present land registry\nprocedures are largely paper based, the new regulation, which will come into force\nfrom October 2024, will also allow to carry out the whole transaction\nelectronically. Legal documents required for real estate transactions, such as\nsales and purchase agreements, can be electronically undersigned by qualified\nelectronic signature or authenticated with AVDH.<\/p>\n\n\n\n A major advantage of the new regulation\nis that the contracting parties will be able to sign the necessary documents\nfor land registry procedures remotely, so that in the future the conclusion of\ncontracts and signing the related documents for real estate transactions will\nnot necessarily require personal presence.<\/p>\n\n\n\n The rules on the jurisdiction\nof Land Offices will also change, as instead of the previous system of Land Offices\nbased on territorial jurisdiction according to the location of the real estate,\nLand Offices will have national jurisdiction, that means that any Land Office\nwill be entitled to decide on every application for land registration submitted\nvia electronic filing.<\/p>\n\n\n\n The new regulation also\nshortens the duration of the land registry procedure in many cases, allowing\nfor the possibility of a summary procedure or automatic decision making, which\ncan be completed in a much shorter time than before. The E-Land Registry will\nalso be linked to other publicly certified registers, so that in many cases the\nnecessary data can be obtained automatically, reducing the administrative\nburden on individuals.<\/p>\n\n\n\n *<\/em><\/p>\n\n\n\n This summary is intended to\nraise awareness and does not constitute legal advice.<\/em><\/strong><\/p>\n\n\n\n If you have any questions or need further information in connection with obtaining the electronic signature or any other issue, please do not hesitate to contact us.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The new Act C of 2021 on the Land Registry will enter into force on October 1, 2024, and this will bring about a fundamental change in the procedures related to real estate transactions. The new legislation will allow for faster and more convenient administration, but it will also require legal entities and natural persons to use electronic signatures or Identification Based Document Authentication.<\/p>\n","protected":false},"author":1,"featured_media":2003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-2002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/posts\/2002"}],"collection":[{"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/comments?post=2002"}],"version-history":[{"count":4,"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/posts\/2002\/revisions"}],"predecessor-version":[{"id":2009,"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/posts\/2002\/revisions\/2009"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/media\/2003"}],"wp:attachment":[{"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/media?parent=2002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/categories?post=2002"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/gerey.hu\/EU\/wp-json\/wp\/v2\/tags?post=2002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}