The system manages around 19 million property deeds and connects to a dozen state IT platforms. E-ING replaces the TAKARNET system which has operated for more than 20 years.

The new E-ING system aims to make property administration faster and more efficient by having legal representatives file applications electronically and linking the digital register to other public databases. 

Key features include potentially faster registration under automatic decision procedures and a new "Buyer's right to retaining property rights" for payments in installments.

Impact assessment:

Digital-only filings by lawyers and notaries: All property-related procedures will be completed on the online platform, eliminating the need for paper documents but requiring enhanced electronic signatures for authentication.

The effects on the general public are basically the new buyer's right, and the expected increase in efficiency and speed of transactions.

The system is designed to reduce turnaround times for land registry procedures, allowing for certain applications to be processed automatically within an hour under specific conditions. 

 

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

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