ROMANIA Law and Practice Contributed by: Monia Dobrescu and Mădălina Trifan, Mușat & Asociații
Mușat & Asociații 43 Aviatorilor Blvd. 1st District Code 011853 Bucharest Romania Tel: +4 021 202 59 00 Fax: +4 021 223 04 95 Email: general@musat.ro Web: www.musat.ro
1. General 1.1 Main Sources of Law The main sources of real estate law in Romania are as follows: • the Romanian Constitution, as further amend - ed, supplemented and republished; • the Civil Code, which entered into force on 1 October 2011; • Law No 71/2011 for the enforcement of the New Civil Code; • Land Law No 18/1991, as further amended, supplemented and republished; • Law No 50/1991 on authorisation of con - struction works, as further amended, supple - mented and republished; • Law No 10/1995 on quality in constructions, as further amended; • Law No 112/1995 on the legal regime of dwellings transferred within the state prop - erty, as further amended; • Law No 7/1996 on cadastral works and the real estate publicity system, as further amended, supplemented and republished; • Law No 10/2001 on the legal regime of real estate abusively taken over between 6 March
1945 and 2 December 1989, as further amended, supplemented and republished; • Law No 350/2001 on territorial planning and zoning, as further amended and supplement - ed; • Law No 165/2013 on measures to complete the process of restitution in kind or by equiva - lent of properties abusively confiscated dur - ing the communist regime in Romania; • Law No 17/2014 on several measures regulat - ing the sale and purchase of agricultural lands located in extra-urban areas; and • Law No 312/2005 regarding the acquisition of ownership rights over real estate by foreign citizens, stateless persons and foreign legal entities. 1.2 Main Market Trends and Deals As anticipated, 2023 saw a dynamic energy sector, with a focus on sites for photovoltaic developments and wind projects reuniting both local developers and active foreign players. In the office segment, well-located and ESG-com - pliant buildings were highly sought after from a sustainability perspective, considering the prior - itisation of aligning real estate investments with broader societal and environmental goals.
745 CHAMBERS.COM
Powered by FlippingBook