|
MauerGroup
Peculiarities of Real Estate Business in Russia
In Russia state registration is carried out on ownership for immovable property and transactions according to the Federal Law of the Russian Federation.1
Federal registration services of Russia maintains the Uniform State Register, which contains information on existing and terminated ownership of real estate, data on mentioned objects and references to the owner of the deeds.
Purchase agreements of real estate for buildings, buildings under construction or land plots is executed in writing by drawing up one countersigned document2 Non-compliance with the purchase agreement makes it void.
The Transfer of ownership rights regarding real estate in accordance with the sale agreement must be registered by a government agent3
Real estate leasing agreement for buildings, buildings under construction or land plots is executed in writing by drawing up one countersigned document. Non - compliance with the building or construction leasing agreement makes it void.
Real estate leasing agreement, made for the timeframe of less than a year, is subject for state registration and considered to be concluded with the moment of registration. Non - compliance with the building or real estate leasing agreement makes it void.
1 Federal law from 21.07.97 № 122-FЗ «On state registration of rights for immovable property and transactions»
2 article 550 Civil Code Russian Federation
3 article 551 Civil Code Russian Federation
4 article 651 Civil Code Russian Federation
|