President signs law on protection of property rights

President signs law on protection of property rights

President of Ukraine Volodymyr Zelensky has signed the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine on Protection of Property Rights."

The corresponding announcement was posted on the website of the Verkhovna Rada of Ukraine.

The Ministry of Justice of Ukraine, in turn, noted that the new law would reduce the number of raider attacks on real estate and corporate rights.

As stated in the explanatory note, the purpose of the law is to provide additional guarantees for the protection of property rights in Ukraine.

The law provides for the elimination of main legal loopholes that cause problems for real estate and business owners.

The law provides for the termination of the activities of accredited entities; introduction of obligatory notarization of agreements on the alienation of corporate rights; implementation of the principle of simultaneous notarization and state registration of rights; strengthening responsibility for violation of relevant registration procedures.

The authors predict that the law will reduce the number of raider attacks on real estate and corporate rights, as well as reduce the costs of citizens and businesses related to the protection of property against unlawful encroachment.


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