Information on Real Estate To Be Publicly Available

Baker&McKenzie, Kyiv,  Ukraine, Wed, August 5, 2015 On4 August 2015 the President of Ukraine signed Law of Ukraine No. 597-VIII"On Amendments to Certain Acts of Ukraine on Improving Transparency inProperty Relations in Order to Prevent Corruption" (the "Law"),which will become effective 2 months after its publication. The Law entitlesany person or legal entity to obtain information from the State Register ofProperty Rights to Real Estate (the "State Register") and the StateLand Cadaster (the "Cadaster"). Main Developments The Law authorizes any person or legal entity to obtain information about areal property, as well as about the holder of rights thereto from the StateRegister in paper or electronic form. Currently only information on registeredrights to real estate is publicly available and only a limited number ofpersons can obtain information on the holder of rights to real property. When the Law becomes effective, any individual or legal entity will be entitledto obtain information on registered land plots from the Cadaster. Currentlysuch information is only available to the owner, tenant and some others. As of 30 June 2015 it has been possible to order an extract from the Cadastervia the Public cadastral map and obtain such extract at any administrativeservices center. The Law imposes an administrative fine for the submission of false informationby an applicant when obtaining information from the State Register or theCadaster. Expected consequences The changes introduced by the Law are expected to increase transparency andaccessibility of information on real property, including land plots. However,proper implementation of the Law will be possible only after the introductionof relevant amendments into the legislation of Ukraine.

Tweet