Tuesday, March 19, 2013

New restitution law for Communist Confiscated Properties

A new restitution law is prepared by the Romanian government these days and rumors in the Romanian press refer to the enormous stake: lands and forests estimated at approx. 11 billion Euros.

Here is what Ziarul Financiar (www.zf.ro) writes on this subject:
The government wants the new law to establish a national fund to compensate people whose property was confiscated by the communist regime over sixty years ago and cannot receive compensation in nature.

Currently, more than 200,000 claims files are waiting to be solved, but no one knows the exact amount of these requests nor how many of these claims are truly justified. There is no national register of restitution showing the exact area of ​​land or number of dwellings claimed.

The area in question consists of 400,000 hectares of land currently comprising the ADS administration of lands and resorts research institutes and ministries. Also there are 3.2 million hectares of forest.

The Romanian government is not going to simply hand out these properties to the people requesting compensation, but prepare a rather complicated system that will enable them to purchase any of the properties in a bidding system. There are many opinions that this system will be designed to compensate some...more than others.

You can read the entire article here:

Our Law Firm has successfully represented an important number of clients for the restitution of communist confiscated properties.

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