The State Housing Committee has issued regulations introducing nation-wide registration of all commercial, residential and industrial real estate owned by individuals and companies. The regulations represent a long overdue measure which should enable title verification, ensure greater transparency and generally facilitate real estate acquisitions. The registration involves filing by the owner with the local real estate registration authority a document of title (purchase contract etc) embodying his ownership rights which is checked for completeness and legality. Once the authority is satisfied of the propriety of the documents it assigns a registration number and issues a registration certificate. According to the regulations, ownership rights to a building must be evidenced by an ownership certificate issued by local authorities on the basis of title documents. Accordingly, investors owning real estate in Ukraine now need to obtain the appropriate ownership certificates to validate the ownership. (Order No 56 of the State Housing Committee of 13 December 1995)
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