ARTICLE · 21 MARCH 2018

Russia: Important Draft Laws On Real Estate

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The Russian parliament is considering a draft law establishing mandatory notarisation for all transactions concerning rights to assets which are subject to state registration.

RussiaReal Estate and Construction

Ekaterina Kalinina

Mandatory notarisation for all real estate transactions

The Russian parliament is considering a draft law establishing mandatory notarisation for all transactions concerning rights to assets which are subject to state registration. The new law would primarily cover transactions in real estate, including sale and purchase, lease, mortgage and servitude agreements.

If the new laws are enacted, the cost of executing real estate transactions will increase significantly.
Currently, Russian law provides for mandatory notarisation only for transactions regarding the transfer of ownership of a share in joint property (including simultaneous transfer of ownership by all owners of such shares), annuity agreements, transactions with real estate belonging to minors and pledge of shares in the share capital of legal entities.

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