Is real estate registered/does a reliable register of land ownership exist? Are transfers of title recorded? Is title insurance common?
All real estate (with the exception of underground structures) is registered in the Cadastral Register. This is administered by special 'cadastral offices', which are each responsible for their own district. The Cadastral Register contains general information about real estate, including:
It also records how the title to ownership has been acquired and other relevant information.
Some real estate is still registered in the 'land register' which predates the Cadastral Register. This contains residual information on certain real estate which has not been carried forward into the Cadastral Register, since the process of incorporation is still ongoing. However, the number of entries remaining in the land register is limited.
Yes, transfer of title must be recorded in the Cadastral Register to be effective. All transfer documents are subject to review by the relevant cadastral office, which examines whether all the legal requirements of the transfer have been met. If this is found not to be the case, the parties to the transaction must remedy the situation, otherwise the transfer cannot be registered. However, since the cadastral office examines only certain aspects of each transaction, it cannot be held responsible if the transfer proves to be invalid for some other reason.
Apart from ownership rights, pledges and mortgages, easements, and certain types of pre-emption right, the Cadastral Act contains new provisions governing other types of rights which are also registered in the Cadastral Register (such as a right of construction or, subject to owner's approval or application, a lease). Preliminary sale agreements cannot be recorded.
Any documentation is archived in the "Collection of Deeds" which forms part of the Cadastral Register.
Yes, although provided almost exclusively by foreign insurance companies.
