Ditching Territorial Boundaries for Real Estate
Significant amendments in real estate legislation regarding property documentation
A fresh regulatory shift is set to reshape the real estate landscape. The new legislation scrambles the traditional territorial tie, allowing property registration applications to be filed anywhere within the country, not just at the property's location.
For added convenience, remote real estate contract closing is now an option. Inexplicably, parties can now handle business with different registrars from the safety of their homes, all coordinated via video conference calls as documents are signed in unison.
The Notary's New Role
Navigating real estate registration or changes within the State Real Estate Register just got easier. citiens no longer have to waste time visiting registration authorities when addressing a notary. The notary will handle the submission of all necessary documents to the registrar, eliminating the need for additional visits.
Automated Updates for Easier Management
good news for those experiencing changes in their personal lives. Information about changes in owner data, real estate addresses, and legal entities' identification data will be automatically logged in the Unified State Real Estate Register, streamlining the process and reducing the need for manual updates.
Mandatory Registration and New Deadlines
The mandatory registration of real estate is being emphasized by the new law. A six-month deadline from the document signing date is set for any registration activity.
Additionally, the deadline for legalizing self-occupied land plots has been extended until January 1, 2028.
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Of course, these updates are relevant mostly to countries where specific provisions aren't mentioned, but there might be recent changes in real estate laws and procedures in Florida, USA, and Ukraine.
In Florida, there are new requirements for administrative approval in real estate, indicating an increase in state control over local zoning and approvals[1]. In Ukraine, starting from March 12, 2025, the state registration of real rights to real estate will adopt stricter verification processes by notaries, particularly for transfers to legal entities and in cases involving agricultural land, aimed to prevent land schemes and raiding[5].
In light of these advancements, individuals considering investing in real estate may find it beneficial to explore opportunities in states with favorable regulatory shifts, such as Florida, where increased state control over local zoning and approvals might offer a more structured environment for financing.
Moreover, potential investors in Ukraine should be aware of the stricter verification processes to be implemented by notaries starting from March 12, 2025, particularly for transfers to legal entities and agricultural land, as these new measures aim to minimize land schemes and raiding.
