ROMANIA Law and Practice Contributed by: Monia Dobrescu and Mădălina Trifan, Mușat & Asociații
1.3 Proposals for Reform The Civil Code stipulates that the ownership right over properties will only be considered as having been acquired after it is registered in the Land Book. However, this provision is not yet in force: it will become applicable country-wide only after the completion of the cadastral works for each ter - ritorial administrative unit. Until then, the regis - tration of real estate rights ensures opposability towards third parties, and the Land Book provi - sions have an informative effect. Property rights include several attributes: pos - session, use and disposition. In addition to exclusive ownership, common ownership (two or more persons holding quotas over the prop - erty) is also possible, which can be either co- ownership, where the quotas are divided, or joint ownership, where the quotas are undivided. The attributes of property rights are as follows: • the usufruct right – using an asset owned by another person and benefitting from its products; • the right of use – using an asset owned by another person and benefitting from its prod - ucts only for family and own needs; 2. Sale and Purchase 2.1 Categories of Property Rights • the right of habitation – similar to the right of use, but applicable where the property is a dwelling; • the easement right – owning a plot of land (the dominant tenement) and having certain rights in connection with another person’s plot of land (the servient tenement); and
(ESG) standards, reflecting an increasing focus on sustainability. Real estate transactions in 2024 were marked by strong demand in the industrial and logistics market. Although financing costs have been a challenging factor in recent years, investor sen - timent remained positive, with many continuing to expand their real estate portfolios for the long term. At the same time, interest in innovative technological solutions, such as land tokenisa - tion and real estate investment platforms, has increased, indicating a trend towards digitalisa - tion in the Romanian real estate sector. For 2025, the real estate market is expected to be influenced by a range of economic and social factors. Regarding the economy, a reduction in the inflation rate is expected by the end of the year, which would accelerate activity in the con - struction sector. Sustainability will remain a key aspect of the real estate market in Romania, and property developments will increasingly focus on energy-efficient buildings. These properties are attractive not only due to lower utility costs and long-term savings but also in the context of new European regulations imposing stricter standards on energy efficiency and pollution reduction. The Romanian real estate market in 2025 and beyond will be marked by innovation, sus- tainability and adaptability. The future will be driven by smarter technologies, demographic changes and new economic and social forces, and the real estate sector will quickly adapt to these transformations, continuing to be one of the most dynamic and influential sectors of the economy.
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