|Costs: Property Search|
All claims deemed to have a reasonable chance of success are dealt with on a contingency basis.
Each claim is carefully studied by the Property Company and its specialist lawyers.
Where it is decided that the Claimant has a reasonable chance of success, the Company will enter into a legal Agreement with the Claimant(s) by which the Company will cover ALL THE COSTS incurred within the Czech Republic, including all searches, legalities and if necessary, court fees, up to the point where the property transfers to its former owners (or their heirs).
At the time when the property reverts to its former owner, the Company is then paid a pre-agreed percentage of the value of the property.
The only costs incurred by the claimants during this time are those of obtaining any required documents from outside of the Czech Republic.
Where clients approach us for help with their potential claim (we call these "Introduced" cases) we clearly first need to evaluate such a case.
These costs are "lost" if it is found that no claim can be made. However, where it is established that there is a likely success for a claim, these costs are credited in full to the claimant when a contract is signed for the Property Company to act on behalf of these "introduced" clients.
The Claimant, once their claim is recognized and the property re-possessed, can of course decide what they want to do with the property - for example whether to use it for themselves, sublet it, re-develop it or just sell it off on the open market.
It is likely that by then the value will have increased compared with the "State owned Value" where proceedings will have started.