Real estate transactions are suspended. What is the reason?
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Notaries cannot perform notarial and registration actions on immovable property, and Ukrainians are actually deprived of the opportunity to exercise their legal rights to dispose of immovable property belonging to them. This is stated in the statement of the Notary Chamber, published on its website.
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What happened
According to the Chamber, since February 2 of this year, the mutual exchange of information data between the electronic systems of the State Land Cadastre and the State Register of Property Rights on Real Estate has been stopped throughout the territory of Ukraine.
As a result, notaries cannot perform notarial and registration activities on immovable property, in particular on land plots.
There are many applications for state registration of rights pending before notaries, which cannot be processed, but the rights are registered. This leads to a violation of the terms in the field of state registration of rights.
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What is the NPU doing?
The NPU appealed to the Ministry of Justice, State Geocadastre and State Enterprise “NAIS” with a request to inform them of the reasons for the termination of the mutual exchange of information between the State Register and State Geocadastre and the terms of restoration of their full-fledged work.
Source: Ministry of Finance
The post Real estate transactions suspended. What is the reason? appeared first on Evening News.
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