Law of Real Estate Registration

In this Law, the following terms and phrases shall have the meanings assigned thereto, unless the context requires otherwise: Law: Law of Real Estate Registration. Competent Authority: The authority designated as such pursuant to a resolution by the Council of Ministers. Senior Official: The top official or the board of directors, as the case may be, at the competent authority. Regulations: Implementing Regulations of this Law. Real Estate: A lot of land and anything above or beneath it — with the exception of natural resources and heights the construction and exploitation of which are not permitted — and all buildings, fixtures, plants, factories, or other facilities such as ports, airports, power lines, pipelines, and the like, constructed thereon. Real Estate Right: A legal right enjoyed by one or more natural or legal persons over a particular real estate entitling them to dispose of such real estate or benefit therefrom. Real Estate Register: A set of documents stating the description, location, physical condition, and legal status of the real estate, as well as any rights, obligations, and modifications thereto, prepared in accordance with legally recognized documents. Real Estate Registration: Making the real estate subject of the real estate right the basis for registering such right. First Real Estate Registration: Registering the real estate in the real estate register under the owner’s name for the first time in accordance with this Law and its Regulations. Real Estate Registrar: A person who conducts the first real estate registration, and any dispositions of the real estate or modifications to its description in accordance with the provisions of this Law and its Regulations. Real Estate Area: The location of a land determined pursuant to a decision by the competent authority and governed by the provisions of this Law and its Regulations. Property Registration Deed: A document issued by the real estate register, as per the template specified by the Regulations, establishing that the data of the real estate conforms to the data in the real estate register. Said document shall include the location, boundaries, description, and use of the real estate, and any associated rights and obligations, as well as the owner’s data and any other data specified by the Regulations. Law of Real Estate Registration Map: A cadastral drawing based on a national coordinate system indicating the real estate location, boundaries, landmarks, numbers, and area, as well as any other digital and graphic data. Owner: A natural or legal person whose right of ownership over a real estate is established by the real estate register. Fee: An amount payable in return for the real estate registration services in accordance with this Law and its Regulations.