Procedure for registering real estate simplified in Moldova

Chisinau, 03 May /MOLDPRES/ – The procedure for disposing and registration of real estate has been simplified. A draft amendment to the law on notarial has been adopted in final reading by Parliament today.

According to new amendments, individual and legal persons will no longer be obliged to present to notaries certificate issued by the State Tax Service (SFS) regarding lack or existence of budget debts related to real estate.

The authors of project claim that simplifying procedure will reduce time and costs of registering property. Similarly, they state that SFS does not have a complete tax cadastre at national level because buildings in rural sector have not been evaluated. The records of those goods and their related taxes are kept by Mayor's offices collecting taxes and fees. The city halls, at their turn, do not have all info systems that allow notaries access to information on tax debts.

At present, disposing contract and pledge contract of goods subject to registration are authenticated on terms of holding documents confirming ownership of goods, State Tax Service certificate regarding lack or existence of debts to budget related to respective assets, extract from the pledge record of lack of pledge of these assets.

According to statistical data, about 400 thousand people carry out real estate operations annually in Moldova.

(Reporter A. Zara, editor A. Raileanu)