Publication date: 26.05.2024
Housing certificates: the Chamber of Notaries has prepared an information sheet regarding the changes introduced by Law No. 3588-IX
Introduction
On April 15, 2024, Law No. 3588-IX "On Amendments to Certain Laws of Ukraine on Improving the Legal Regulation of Issues Related to the Prohibition of Alienation of Real Estate Objects Purchased (including Invested/Financed) Using a Housing Certificate" entered into force for the purchase of a residential real estate object". In this regard, the Commission of the Notary Chamber for Analytical and Methodological Support of Notarial Activities has prepared an information letter, in which the key changes introduced by this Law are discussed.
The main questions of the information letter
1. Amendments to the Law "On Notaries"
The introduced changes exempt notaries from the obligation to observe notarial secrecy regarding information necessary for the implementation of the provisions of Law No. 3588-IX. This allows more quickly and efficiently to carry out notarial actions related to housing certificates and their use for the purchase of residential real estate objects.
2. Imposition and removal of the ban on alienation of immovable property
The law provides for new rules for imposing and removing the ban on the alienation of real estate purchased or invested with the use of housing certificates. This contributes to the protection of investors' rights and ensures legal transparency of real estate transactions.
3. Mortgage on residential real estate objects
Special attention is paid to the issue of mortgages on residential real estate objects, which are purchased or invested with the help of housing certificates.The law regulates the conditions under which such objects can be the subject of a mortgage, including future structures and land plots on which they are located. In addition, rules have been established regarding the prohibition of alienation of such objects.
4. Amendments to the Law "On State Registration of Property Rights to Immovable Property and Their Encumbrances"
The introduced changes are aimed at improving the process of state registration of property rights to immovable property and their encumbrances. The law provides clearer regulation of this process, which should have a positive impact on legal certainty and protection of the rights of owners of housing certificates.
5. Definition of the concept of an object of residential real estate
The law provides a clear definition of the concept of a residential real estate object and regulates the use of residential certificates for the purchase of such objects together with the land plots on which they are located. This also includes shares in the ownership of such objects, which contributes to greater transparency and protection of the rights of owners.
6. Bringing by-laws into compliance with Law No. 3588-IX
At the end of the information letter, the Commission of the Notary Chamber emphasizes the need to bring subordinate legal acts into compliance with the new provisions of Law No. 3588-IX. This will ensure effective and consistent application of new norms in practice. You may be interested in the following articles: lawyer's consultation, lawyer's consultation, document analysis, legal situation analysis, written consultation, document review by a lawyer, lawyers' documents, lawyer's help online, lawyer online, legal opinion, lawyer's legal opinion, lawyer online.
Conclusion
Law No. 3588-IX makes important changes to the legal regulation of issues related to housing certificates and real estate objects. The Chamber of Notaries' fact sheet provides a detailed analysis of these changes, highlighting key aspects relevant to notaries and other legal actors in this area. The clarity and transparency of the new rules, which will contribute to the improvement of the legal environment and the protection of the rights of participants in operations with residential certificates, is important. Considering the complexity and significance of the changes, it is necessary to note the importance of careful study and implementation of new normative legal acts in this area to ensure their effectiveness and legality in practice.
