Fasteignalögum

Fasteignalögum refers to the laws governing real estate in Iceland. These laws dictate the acquisition, ownership, use, and transfer of immovable property. Key aspects covered by fasteignalögum include the registration of property titles, which is managed by the National Registry of Iceland (Þjóðskrá Íslands). This registration system ensures legal certainty and provides a public record of ownership and any encumbrances on a property, such as mortgages or easements.

The laws also address issues related to property boundaries, building regulations, and zoning. When purchasing or selling property, fasteignalögum stipulate the necessary legal procedures, including the role of notaries public in drafting and witnessing sale agreements. Furthermore, these laws cover landlord-tenant relationships, outlining the rights and obligations of both parties in rental agreements. Inheritance of property is also regulated, determining how real estate is passed on to heirs. Amendments to fasteignalögum are made periodically to reflect changes in societal needs and economic conditions, ensuring the legal framework remains relevant to the Icelandic real estate market.