Notarial deposits

At the depositor´s request the notary will deposit the following:

• Testament – with the aim to store the testament, disinheritance deed, declaration on choice of law and retraction of such acts, for the purpose of submitting such documents in inheritance proceedings after the testator deceases,
• Other deeds, paper securities – to use it in accordance with the depositor´s orders, in accordance with an agreement concluded between the depositor and the recipient or for the purpose of fulfilling an obligation,
• Money – to use it in accordance with the depositor´s orders, in accordance with an agreement concluded between the depositor and the recipient, in accordance with a special regulation or for the purpose of fulfilling an obligation,
• Movable property – for the purpose of fulfilling an obligation.

The depositor can deposit documents and money at the notary, and the notary will use it in accordance with the depositor´s orders, in accordance with an agreement concluded between the depositor and the recipient. During the duration of such notarial deposit, the depositor expressly waives the right to dispose of the deposited subject and the right of disposal shifts to the notary. After the conditions determined by the depositor are complied with, or based on an agreement between the depositor and the notary, the deposited subject will be issued to the recipient. Unless the conditions are complied with, the notary will return the deposited subject to the depositor. During such proceedings the depositor cannot change the deposition conditions subsequently.

If a debtor cannot fulfil his or her liability towards the creditor, as the creditor is not present or is in delay, or if the debtor is doubtful for good reasons about who the creditor is, or if the debtor does not know the creditor, the effects of fulfilment of obligation arise if the subject of the obligation is deposited by the debtor in the notarial deposit in order to fulfil such obligation (so-called qualified deposit). The notary can deposit a document, money or movable property in order to enable fulfilment of the obligation. A movable property not suitable for deposition, in particular a thing that can decay, and a thing that cannot be stored in the notary´s safe or in bank due to its character or size, and no other suitable depositary is found, cannot be deposited.

Money can be submitted to notarial deposition and the notary will dispose of them in accordance with the special regulation, especially deposition of proceeds from selling a pledge that exceed the liability pledged in favour of the priority pledgee, after deducting inevitable expenses spent to the purpose in connection with the right of lien in favour of other pledgees and the depositor (section 151ma, par. 5 of the Civil Code), deposition of proceeds from an auction after paying the costs of such auction and after settling the pledgee´s claims in favour of the previous owner of the auctioned subject, if such previous owner failed to hand over the auctioned subject to the auction winner or if the previous owner refuses to accept such sum (section 32, par. 1 and 2 of act No. 527/2002 Coll. on Voluntary Auctions) or deposition of proceeds from sale of property comprising a separate estate in favour of the creditors, whose claims were secured by security rights, while such claims are next in line to be settled after the settlement of the security rights (section 70, par. 2 (d), par. 3 and 4 of Act No. 7/2005 Coll. on Bankruptcy and Restructuring).