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The European Real Estate Market – Transparency, Security and Certainty through registration by EuroTitle
... In consequence, there is a chance of not effectively transferring the property, compelling the parties to contract in the country of situation of the immoveable propertybearing the uncertainty given by a Notarial act written in a language the parties do not understand 10 : "the practical solution is that a local advisor is hired". 11 This problem was acknowledged by the European Parliament, who stated it was not legally forbidden to contract abroad but the contracts were often unrecognised in the country of the property. 12 ...
This paper explores the obstacles regarding cross-border transactions on immoveable property within the European Union. The existence of obstacles to the exercise of the freedom of movement of capitals, such as travel costs to the country where the property is located and finding a notary there, may even lead the parties not to enter in those contracts. E-justice solutions are being created to solve such situations and this paper reflects if they are enough to overcome the difficulties and rectify current deficiencies. It concludes by examining the tendency of solving the difficulties of international cooperation between non-judicial authorities through e-Justice tools.
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