What Acquiring Commercial Property Means Legally
Acquiring commercial property — the purchase of premises for a clinic, a dental practice or a consulting office — is a transaction regulated by the Georgian Civil Code, every element of which is defined by law. A contract by which one party undertakes to transfer title to immovable property to another, or to acquire it, requires written form — an oral agreement renders such a transaction unlawful. This is the first and foremost rule by which the law disciplines every participant of the immovable-property market.
The content of the sale contract is also prescribed: the seller is obliged to transfer to the buyer the right of ownership in the property, the documents connected with it, and to deliver the goods; the buyer is obliged to pay the agreed price and to accept the property purchased. If the price is not directly indicated in the contract, the parties may agree on the means of determining it — though in practice a precisely fixed price always serves the contract better.