SLOVENIA Law and Practice Contributed by: Blaž Ogorevc, Miha Štravs and Blaž Murko, Odvetniki Šelih & partnerji, o.p., d.o.o.
• the Nature Conservation Act and the Cultural Heritage Protection Act, which prescribe special protection regimes and restrictions on transfer of title of real estate designated as natural and cultural monuments; and • the Spatial Management Act in connec - tion with implementing regulations of the municipality or the state, which provide for pre-emption rights of the municipalities or the state over land plots which are of special importance. 2.3 Effecting Lawful and Proper Transfer of Title For the proper transfer of title to real estate a binding sale and purchase agreement, a land register permission and an entry in the land register is required. The land register records transfers of title. Entry in the land register is a constitutive element in the transfer of title. The Land Register Act prescribes the principle of reliance on the land register data. In accordance with it, anyone who acts honestly in legal trans - actions and relies on the information entered in the land register should not suffer adverse consequences as a result. The land register is kept electronically and is publicly accessible. Considering the foregoing, title insurance is not common in daily transactions. In large transac - tions, however, foreign buyers who want to miti - gate all risks during the pre-registration period or cover transaction-specific matters might seek title insurance. The limitations in governmental office functional - ity and in-person availability for document sign - ing or notarisation that existed during the coro - navirus pandemic have resulted in certain new processes or procedures for the documentation and completion of real estate transactions. Most notably, the latest amendment to the Notariat
Act envisages a comprehensive digitisation of notarial services. The amendment enables remote access to notaries and remote drafting of notarial deeds, video-electronic identification through a direct secure video link with the notary and simplifies data retrieval by electronic link to official records, registers and public books. The described provision of digital notarial services will be possible when technical requirements are ensured. 2.4 Real Estate Due Diligence The aim of real estate due diligence is to thor - oughly inspect the real estate to reduce and miti - gate uncertainties. Besides legal due diligence, acquisition of real estate frequently also requires performance of technical or environmental due diligence. The manner and scope by which buyers carry out real estate due diligence depends heavily on the objectives of the transaction. On one hand, the acquisition of an income-producing prop - erty like a shopping centre requires the buyer to examine existing lease agreements and each tenant’s rental payment history. On the other hand, the acquisition of greenfield intended for real estate development requires the buyer to examine the zoning. Regardless, due diligence always involves a review of public records (land register, land cadastre, etc). A due diligence activity specific to the acquisi - tion of real estate in Slovenia is the examination of potential ongoing restitution proceedings, which is a legacy of the former collective own - ership system. 2.5 Typical Representations and Warranties The scope of representations and warranties in commercial real estate transactions depends on
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