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Procedure for Registration of Real Estate Deals  has Changed Again

Procedure for Registration of Real Estate Deals has Changed Again

 Amendments were introduced earlier into the Civil Code in compliance with the Law of the Republic of Uzbekistan dated October 18, 2018, which raised the issue of the procedure for execution of contracts for the sale of real estate. In particular, it was established that the sale of any real estate, that is, including non-residential one, shall be registered by drawing up and signing of a single document by the parties and its mandatory notarization. Moreover, such a requirement was established regardless of whether the deal was concluded between individuals or legal entities or between an individual and a legal entity.
  The Law of the Republic of Uzbekistan No.ZRU-531 “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in connection with the adoption of additional measures on the improvement of business climate in the country” dated March 20, 2019 again amended the Civil Code, according to which was restituted the original order of registration of real estate. That is, as before, notarization shall be required only for a contract for the sale of a residential house, and apartment, part of a residential house or apartment. Accordingly, the sale of other types of real estate, including non-residential premises, can be simply made in written form and regardless of who the parties to the deal are: physical or legal entities.

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