On Oct. 25, FIN GVT adopted bill changing fines for late registration.
FIN GVT adopted bill HE 62/2024 vp amending section 16 of the the law on the implementation of the legislation on the apartment information system (1329/2018).
Main Points
The President of the Republic confirmed the law that changes the calculation method of penalties for delays in the registration application in the apartment information system.
When the real estate company has transferred its condominium shares for the first time, the transferee must be registered as a shareholder in the condominium register.
Within two months of signing the transfer agreement granting apartment's ownership.
Under the previous law, late registration resulted to a fine increased by 20% for every two months of delay; the future calculation of the fine will not add interest on interest.
Effectiveness
The law enters into force on Nov. 1, 2024.
Regulators
FIN GVT
Entity Types
CNSM; Corp
Reference
EV 73/2024 vp, PR, 10/25/2024; HE 62/2024 vp; Act 1329/2018
