Compendium of terms
Kupno nieruchomości to złożony proces, w którym pojawia się wiele specjalistycznych terminów – od praw własności, przez zabezpieczenia finansowe, aż po formalności notarialne. Aby uprościć poruszanie się w gąszczu pojęć, przygotowaliśmy kompendium najważniejszych wyrażeń, które warto znać przed podjęciem decyzji o zakupie lub inwestycji.
Glossary of Key Terms
Freehold Ownership
Definition: A form of ownership in which the owner has full rights to dispose of the property.
Significance for the buyer: Guarantees complete control over the property and no additional fees.
Mortgage
Definition: A security interest (e.g. for a loan) registered on a property.
Significance for the buyer: Before purchase, it is essential to check whether the property is encumbered with a mortgage.
Revitalization
Definition: The process of restoring degraded urban areas.
Significance for the buyer: It may increase the value of an investment but is associated with temporary inconveniences.
Notarial Costs
Definition: Notarial, tax, and court fees related to the transfer of ownership.
Significance for the buyer: They usually amount to 2–3% of the property value and should be included in the budget.
Perpetual Usufruct
Definition: The right to use state-owned land for a specified period (e.g. 99 years).
Significance for the buyer: It involves the obligation to pay an annual fee.
Land and Mortgage Register
Definition: A public register containing data about the property – owners, encumbrances, and claims.
Significance for the buyer: The primary source of information on the legal status of the property.
PCC Tax
Definition: A tax on civil law transactions in secondary market purchases (2%).
Significance for the buyer: A mandatory tax that must be paid within 14 days of the purchase.
VAT in Real Estate Transactions
Definition: A tax applied on the primary market – 8% or 23%.
Significance for the buyer: It can significantly affect the purchase price from the developer.
Developer Agreement
Definition: A document governing the relationship between the developer and the buyer.
Significance for the buyer: Specifies the project schedule, handover conditions, and contractual penalties.
Developer
Definition: An entity responsible for carrying out construction projects for sale.
Significance for the buyer: Choosing a reliable developer is a key element of a secure transaction.
Summary
Knowledge of these terms enables conscious and secure purchasing decisions. It is advisable to use this glossary as a quick reference during discussions with a notary, bank, or financial advisor.
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