Slovak Financial Law News 2004

Act on Transfer of Ownership of Real Estates in the Ownership of the Slovak Republic to Municipality or Higher Territorial Unit

Act No. 172/2004 Coll. on transfer of ownership of real estates in the ownership of the Slovak Republic to municipality or higher territorial unit

This act stipulates the conditions and procedure of transfer of ownership of real estates in the ownership of the Slovak Republic, which is under administration of the Ministry of Defence of the Slovak Republic (the ``Ministry'') and has become redundant for the Ministry and the higher military administration to municipality or higher territorial unit.

The redundant state property means such a property, which does not serve, neither will serve, to the administrator (e.g. state budgetary organisation and state contributory organisation, state fund, public institution if it administrates the property of the state pursuant to the law) another legal entity if it administrates the property of the state pursuant to the law, for the purpose of fulfilment of the assignments in the framework of the scope of its activities or in connection with it. The ownership transfer of the respective property may be made by a deed of gift after the prior decision of the Government of the Slovak Republic.

This Act came into force on 1 May 2004 and shall cease to be effective on 1 December 2010.