Czech Republic 2013: Good Intentions not Enough

Czech Republic 2013: Good Intentions not Enough

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Jun 21, 2013

 

In Czech Republic there are more and more cases where fraudsters forge documents with data changes in real estate register and they are transferring ownership without the knowledge of the actual owners. They will then take loans or resell it to unsuspecting buyers. The other methods are that someone can also bribe an official at real-estate register and he can purposely change the record of the real-estate or land register. As any other state officials they are not liable for their mistakes during their duties. 

At the beginning there was a good intention to prevent fraudsters and how to deal with forged real estate. At the end MPs passed a bill with a legal hole that doesn't provide any additional gain in protecting its assets. The new law does not protect home-owners, apartments and land theft. The Czech parliament got lost in a numbers of amendments and approved it.

The proposed change in the Land Register Act was passed by MPs. The authority has to send to home-owners e-mail, or text message notification of any change of the land register. But the law eventually doesn't contain withdrawal period during which the owner not only detects the fraud, but also to can appeal to the change and revert it back.

 
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