The 2005 Special Issue of the Comparative Law Yearbook of International
Business addresses issues relating to security in immovables. Each Chapter
contains an overview of the security in immovables laws of a particular
country. The laws vary widely among the countries; the word immovable (or real
property in Common Law jurisdictions) even has different definitions in
different countries.
Crossborder transactions involving immovables are integral to international
business dealings. This publication provides a general overview of the methods
by which immovables are secured in various countries, and each chapter
contains details such as the priority granted creditors and openness of the
land registers. Each chapter contains a country-specific explanation of the
method by which one obtains a mortgage, lien or similar security and an
exploration of the possible problems that might arise during Such a process.
In addition, special attention is given to the obstacles facing non-nationals
interested in buying immovables. The book evidences the varied attitudes at
governments towards the purchase of immovables by non-nationals. In some
countries, such as The Philippines, non-nationals are prohibited from buying
land. Other countries, such as the Slovak Republic, allow foreign acquisition
of nearly any immovable, only forbidding purchase of items that no private
citizen can own, such as the country's rivers.
This publication reflects recent developments in security in immovables,
especially in Eastern Europe. The chapter on immovables in Ukraine is based on
the country's new property laws, passed in 2004. The chapters on the Czech
Republic, the Slovak Republic and Hungary all reflect the changes brought by
accession to the European Union,
The acquisition of property in a foreign country is an integral facet of
international business and practitioners will find this publication¿s in-depth
instructions for the purchase of security in immovables useful as it pertains
to individual countries. In addition to showing practitioners how transactions
work for individual countries, readers will be able to compare diverse legal
regimes to find the one most favorable for their particular business
transactions.
