The Federal Service for State Registration, Cadastre and Cartography (Rosreestr) has drawn a law which lifts Ukraine-imposed restrictions on real estate in the new Russian regions, TASS reported citing Rosreestr’s press service.
To prevent document forgery or obstacles in the execution of property rights, Rosreestr suggests annulling certain documents if they limit property rights by pledge, arrest or property transaction ban imposed by a Ukrainian court or government body, the press service said.
The information on encumbrance or real estate rights limitation will not be entered in the Unified State Register of Real Estate Records (EGRN).
Though the proposed legislation does not “automatically” terminate the obligation to pay mortgage loans, it provides for possible registration of rights to mortgaged property in the future.
The law is specifically expected to rule out the risk of property registration with forged or unacceptable documents. It upholds the general principle established by the federal constitutional law on the recognition of real estate documents.
Earlier, Rosreestr drafted a law on the recognition of real estate documents issued in the new Russian regions prior to their accession to the Russian Federation.
The Lugansk People’s Republic, Donetsk People’s Republic and Zaporozhye and Kherson regions acceded to Russia on September 30, 2022 following the unification referenda.*i*v