Publication date: 30.05.2024
Legal Regulation of the Real Estate Market: Key Requirements and Trends
Introduction
The real estate market is one of the most important sectors of the economy that requires clear legal regulation to ensure transparency, protection of participants' rights and stability. Legislation in this area is constantly changing, taking into account the latest trends and challenges.
Key Legislative Acts
Civil Code of Ukraine
The Civil Code regulates general issues related to property rights, sale and purchase, lease and other legal aspects of real estate.
- Article 316: Defines the concept of property rights and its types.
- Article 655: Regulates the sale and purchase agreement, including the terms, rights and obligations of the parties.
Law of Ukraine "On State Registration of Real Property Rights and Encumbrances"
This law defines the procedures for state registration of rights to real estate and their encumbrances, which is key to ensuring the legal purity of real estate transactions.
- Article 4: Establishes mandatory state registration of rights to real estate.
- Article 15: Defines the procedure for registration of rights and encumbrances.
The Law of Ukraine "On Regulation of Urban Development"
This law regulates planning, development and other urban planning activities.
- Article 5: Establishes requirements for urban planning documentation.
- Article 29: Determines the procedure for issuing documents entitling to perform construction works.
The Law of Ukraine "On Land Lease"
This law regulates the lease of land plots, which is important for the location of real estate.
- Article 5: Defines the terms of the land lease agreement.
- Article 21: Regulates the rights and obligations of the lessee and the lessor.
Key Requirements for Real Estate Transactions
State Registration
State registration is a prerequisite for acquiring ownership of real estate. This ensures the legal purity of the transaction and protection of the owner's interests. You may be interested in the following articles: legal advice, legal advice, analysis of documents, legal analysis of the situation, written advice, verification of documents by a lawyer, lawyers documents, online legal assistance, online lawyer, legal opinion, legal opinion of a lawyer, lawyer online.
Notarization
Real estate purchase and sale agreements, as well as some other transactions, require notarization. This is an additional measure to prevent fraud.
Real estate valuation
Before entering into a transaction, real estate is often appraised to determine its market value and avoid overpayments or underpayments.
Compliance with Building Regulations
Construction and reconstruction of real estate must comply with building codes and standards. This includes obtaining the necessary permits and approvals.
Trends in the Real Estate Market
Digitalization and Automation
More and more processes in the real estate market are moving online. This includes submitting documents for registration, online property valuation, and even concluding transactions.
Increased focus on energy efficiency
Demand for energy efficient buildings is growing. Legislation is gradually introducing energy efficiency requirements for new buildings and reconstructed facilities.
Regulation of Lease Relations
Increasing attention is being paid to the regulation of lease relations, especially in large cities. Legislative changes are aimed at protecting the rights of both tenants and landlords.
