New property protection mechanism has been launched in Ukraine

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New property protection mechanism has been launched in Ukraine

From now on, Ukrainians will be able to register property rights to housing that is under construction or will be built.

Previously, citizens were forced to enter into a preliminary real estate sale and purchase agreement or an agreement of intent with developers. This did not grant ownership until the housing was put into operation. This sometimes led to fraud. For example, when one apartment is “sold” to several people at once.

What will change

With the new legislation, Ukrainians receive state protection for their investments in construction. Even before the object is put into operation, you can register your property rights to housing. This will protect citizens from possible corruption schemes and fraud related to the purchase of housing.

How the new mechanism works

Developers will be able to apply for registration of property rights to the objects to be built through the Unified State Electronic System for Construction (USESC) and then transfer these rights to buyers. All data will be stored in the USESC.

Digitalization

The Unified State Electronic System for Construction was developed by the Ministry of Communities, Territories and Infrastructure in cooperation with the Ministry of Digital Transformation with the support of the USAID/UK aid Transparency and Accountability in Public Administration and Services/TAPAS project.

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