Land transaction law
5 important questions on Land transaction law
Investment in real estate is movement of capital. What are the restrictions regarding investments in second homes in Austria according to art. 70 Act of Accession ?
Investment in real estate is movement of capital. What are the restrictions regarding investments in second homes in Austria according to art. 70 Act of Accession ?
Investment in real estate = movement of capital. What is restriction regarding investments in second homes in Austria of 5th Joint declaration on secondary residence?
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ECJ case C-302/97, judgement of 1 June 1999, Konle. What were the facts of the case? Land transaction law.
- Acc to Tyrolian law: prior authorization for acquisition of real estate required for Austrians and nationals of other countries alike
- Respective authorities examine whether acquirer actually intends to establish his main residence in Tyrol; no evasion of prohibition of second homes
ECJ case C-302/97, judgement of 1 June 1999, Konle. What was the decision of the ECJ? Land transaction law.
- 'a MS can justify its requirement of prior authorization by relying on a town and country planning objective such as maintaining, in the general interest, a permanent population and an economic activity independent of tourist sector in certain regions, restrictive measure inherent in such a requirement can be accepted only if it is not applied in a discriminatory manner and if the same result cannot be achieved by other restrictive procedures.
- Authorization not necessary, less restrictive means to reach aim (eg notification procedure + sanctions in case of breach of law).
- Tyrolian authorities are free to examine afterwards
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