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In Ukraine, cost of transactions for real estate or land plots sale to be recorded in state register – resolution

KYIV. Nov 26 (Interfax-Ukraine) – The Cabinet of Ministers of Ukraine has approved changes to the procedure for registering property rights to real estate, in particular, fixing the price of property under a sale and purchase agreement.

As reported on the government’s website, the decree introduces the interaction of unified and state registers in the competence of the Ministry of Justice to ensure automatic verification and entry into the State Register of Real Rights of statements about the subject, including from other registers.

In addition, in the State Register of Real Rights, the price of land plots or construction projects specified in the purchase and sale agreement, will be recorded. Also, in the case of state registration of ownership of housing before January 1, 2013, when maintaining the register, the rule on the need for a technical inventory of a completed construction project is not applied.