The ban on cash payments in real estate transactions squeezed through at first reading at the Bulgarian Parliament yesterday. The proposed changes to the Notary Act will see parties in property deals presenting declarations that the price in the title deed is the actual amount that is paid.

Further payments agreed in the deed will be guaranteed with a bank account in the declaration where money will be transferred. The proposal is aimed at preventing hiding the real cost of the transaction as formalities relating to the sale are currently performed on the property`s tax appraisal to evade taxes. Another goal is to stop money laundering through real estate transactions.

This News is listed at news.Guide-Bulgaria.com

house for sale Kurdjali 150 m2 € 10300

house for sale Elhovo 36 m2 € 4900

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