It will be faster and easier to liquidate undivided common property

By: Trademagazin editor Date: 2020. 07. 06. 11:15

The abolition of undivided common property will be faster and easier from January – Nagy István, Minister of Agriculture told Kossuth radio on Monday.

On Friday, without a vote against, Parliament passed a new law to help eliminate liquidation of undivided common property, which will take effect on January 1, 2021.

The Minister of Agriculture said that from January, the abolition of undivided common property does not require the consent of all owners, it can also be initiated at the initiative of 50 percent plus one person. It helps to speed up the process by not having to call a surveyor, instead measuring the areas with the help of an IT program, he added. (MTI)