Register of custodial contracts and Custodial Notaries
The Protection of Buyers of Apartments and Single Occupancy Buildings Act (ZVKSES) protects buyers against risks of investor's financial unviability to complete the construction project and against a seller's default. One way to such prevent risks is a custodial service performed by a custodial notary. A custodial notary must be registered in the Register of the Custodial Notaries (ZVKSES – Article 41) and any custodial contract must be entered in the Register of Custodial Contracts. A custodial contract shall be, according to Article 39 of ZVKSES, concluded among the custodial notary, custodial bank and the seller.
Register of Custodial Contracts
No entries – contract on establishing a custodial account according to the Article 39 of the Protection of Buyers of Apartments and Single Occupancy Buildings Act was not concluded.