Notaries will notarize all real estate transactions in the Russian Federation

The State Duma of the Russian Federation adopted in first reading an amendment to the Civil Code. According to the changes, individuals and legal entities are obliged to notarize all real estate transactions in Ust-Ilimsk and other cities of the Russian Federation that are subject to state registration.

The authors of the amendments from the working group under the President of Russia believe that innovations will help protect against the fraudsters the parties to the transaction, who also have to pay for the services of intermediaries during registration. We add, lawyers say - this amendment will not become the norm of instant action.

To make it work, we need a new law on notaries, explains the deputy head of the Ministry of Justice, Yuri Lyubimov. Notaries must agree to bear the property responsibility for their actions, tariffs should be justified, services - affordable.

It is planned to adopt the law in 2013, but before its entry into force, a transitional period is needed so that there are more notaries in the regions where they are not enough.According to Lyubimov, the rule is planned to be extended to transactions of both individuals and legal entities. Notaries will independently carry out the entire registration process, issuing a ready certificate.

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