Moldovan cabinet optimizes procedure of registration, sale of real estate

Chisinau, 22 March /MOLDPRES/ – The Cabinet of Ministers approved in its meeting today, a bill that comes to optimize the registration procedures and alienation of immovable property. As such, contracting sides shall not be required to submit to notary statements of public registers, the government’s communication and protocol department has reported.

The project provides the mechanisms for access of notaries to data in electronic registers of the State Tax Inspectorate, State Registration Chamber and I.S. Cadastru, necessary to authentication procedure for contracts of alienation of immovable property. Currently, notaries are obliged to ask the parts for confirming documents from the above-mentioned institutions.

The list of documents from the state registers will include: certificate on the absence or existence of arrears to the budget relating to the property, subject to alienation/pledge, the extract from the state register of legal entities and individual entrepreneurs extract from the Land Register, information on real estate value.

The optimizations proposed in the bill will help increase legal certainty and significantly reduce administrative costs for the parts to real estate transactions.