Sunday, 12 February 2017

The new law on real estate registry

On the 1st of January 2017 the new Law of Real Estate Registry took effect, abolishing a large quantity of acts which had been enacted since 1998 when general rules in this question were provided for the first time. As the law of 1998 was the the starting point for real estate registry in modern Russian history, it had been amended enormously often thus the general revision seems to be quite a reasonable step to take.

However, the new law is not just a unification of different enactments, it’s a further step in a massive reform aiming to land parcel and building upon it into a single object of rights. I have already mentioned that nowadays they are two distinct objects so, selling a house, an owner must sell both a parcel and a building itself, the weird approach being a consequence of economic reforms of 1990ths. So, why is the new registry law important?
First of all, it sets up a new single registry (“The Single State Real Estate Registry”) instead of two distinct (first one for rights on real estate and another one for its specifications).  That means in many cases to register a property right one should follow just one procedure instead of two (at first to specify technical characteristics of an object and then to register a right upon it), resulting in two different government bodies being joined into one (its short name in Russian is RosRehestr).
This unification has led to shorter terms of registration (not longer than 10 working days instead of 20 working days in the previous law). Moreover, one can submit any documents either through official web site or personally through any of the offices or multi-functional centers over the country, notwithstanding the location of the property (art. 18). Just couple of months ago one had to go to a registry office closest to the location and possibility of electronic submission was a lucky exception… 

 All these measures will inevitably change the mindset of either lawyers and lay people, making them consider any changes to the property as a modification of the right upon it.

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