On April 15, 2024, Law No. 3588-IX “On amendments to certain laws of Ukraine regarding the improvement of legal regulation of issues related to the prohibition of alienation of real estate acquired (including invested/financed) using a housing certificate for the acquisition of an object came into force residential real estate.”
Notary Chamber of Ukraine informedthat Law No. 3588-IX amends a number of laws:
Law “On Notaries”
In particular, in Article 8: the entry by a notary, in cases provided for by law, of information into the State Register of State Property Management, the Unified Register of Persons Disappeared under Special Circumstances, is not a violation of notarial secrecy.
The rules regarding the imposition and lifting of a ban have undergone changes.
Law “On Mortgage”
From now on, the subject of a mortgage can be a residential real estate property (including one that will be built in the future), a land plot on which such an object is located, which are purchased or the investment/financing of the construction of which is carried out using a housing certificate for the purchase of a residential real estate property and for credit account; and other changes.
Law “On state registration of real rights to real estate and their encumbrances”
In Article 2, “the heir or his authorized person is added to the circle of applicants – in the case of submitting documents for state registration of rights that belonged to the testator.”
Part two of Article 3 is set out in a new wording: “2. Property rights to real estate, an unfinished construction project, a future real estate project and their encumbrances, subject to state registration in accordance with this Law, arise, change and terminate from the moment of such registration.”
Changes have been made to normalize the possibility of mortgaging objects acquired using a housing certificate.
Law on compensation for damage and destruction of real estate as a result of armed aggression of the Russian Federation and the GRPUI.
The words “apartment, other residential premises, manor-type house, garden or country house (including financing the acquisition of such premises/house to be built in the future, or investing/financing its construction)” are replaced with the words “residential real estate property (including including investment/financing of its construction), the land plot on which such an object is located, shares in the ownership of such property.”
The relevant provisions of the Law have been changed to provide the possibility of mortgage lending for purchased housing using housing certificates.
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