BarentsNews.com

The President of Russia signed the new Federal Law No. 69-FZ of 9 June 2003 (the “Law No.69-FZ”) that makes changes and amendments to the Federal Law “On State Registration of Real Estate Rights and Transactions With It”.

The Law No.69-FZ will come into force from 16 September 2003 and will provide more detailed regulation of real estate rights registration procedure.

The Law No.69-FZ also grants additional rights to the registration office. For example, the registration office will have the new right to issue a copy of Contract to the owner of the real estate at its written request. Hence the owner should not experience difficulties with confirming its rights to the real estate any longer in case its version of Sale-Purchase Contract is lost or destroyed.

Sergei Mashkarenko.
Lawyer
Tel/Fax: +7812-174-59-50