Law of Real Estate Registration

1. A real estate area shall be designated pursuant to a decision by the competent authority. Said decision shall include a precise definition and clear markings of the area and shall specify the period for receiving the applications for first real estate registration; said area shall be announced through any appropriate medium specified by said decision. 2. The competent authority shall be in charge of the first registration of each real estate located in the real estate area as well as of the registration of any subsequent dispositions. 3. Dispositions of real estate located in the real estate area which are made during the period of conducting the first real estate registration shall be documented in accordance with the procedures specified by the Regulations.