Online Registration of Special Property Rights: a New Phase in Ukrainian Real Estate
Date: 2023-10-27 Author: Dima Zakharov Categories: ECONOMY
The State Register of Property Rights (SRPR) has recorded a historic moment by allowing the registration of special property rights for future real estate projects. Previously, such a registration process did not exist.
This new right will aid construction contractors and developers in conducting transparent business operations while offering homebuyers protection against unscrupulous developers. The initiative aims to create a more secure environment for real estate transactions, ensuring the integrity of investments in housing.
Before registering this right, developers must complete a series of specified documents in the Unified State Electronic System for Construction (USESC). These documents include an application for state registration of special property rights. The application is processed by the state registrar electronically through the interaction between USESC and SRPR. Developers are also required to provide detailed information about the construction project and their own details.
The relevant authorities emphasize that the registration of special property rights is mandatory for those intending to sell future apartments, garage units, other residential and non-residential premises, or parking spaces. Currently, special property rights have already been registered for three construction projects.
Special property rights are a type of property right that involves ownership and management of an unfinished construction project or future real estate object.
This new right will aid construction contractors and developers in conducting transparent business operations while offering homebuyers protection against unscrupulous developers. The initiative aims to create a more secure environment for real estate transactions, ensuring the integrity of investments in housing.
Before registering this right, developers must complete a series of specified documents in the Unified State Electronic System for Construction (USESC). These documents include an application for state registration of special property rights. The application is processed by the state registrar electronically through the interaction between USESC and SRPR. Developers are also required to provide detailed information about the construction project and their own details.
The relevant authorities emphasize that the registration of special property rights is mandatory for those intending to sell future apartments, garage units, other residential and non-residential premises, or parking spaces. Currently, special property rights have already been registered for three construction projects.
Special property rights are a type of property right that involves ownership and management of an unfinished construction project or future real estate object.
