The law about state registration corporeal rights for real estate derogates from rights wadsetters

Legislation “About entering changes in the Law of Ukraine “About state registration of property rights for real estate and its limits” derogate from rights of wadsetters.

Article 15 of legislation supposes that registration of rights for real estate including mortgage is leading in terms not more than 30 days from the moment of getting by local agency registration of the right application about this registration and documents which are necessary for its conducting. Consequently, there is a real danger that during 30 days the rights of wadsetters are stay unprotected.

Also, in an article 3 it is said that right on the property (and mortgage) is liable to state registration, appears from the moment of registration. Any operations with real estate (expropriation, administration, mortgage and etc.) are made if the right of property is registered on such real estate according to the demands of this law.

This position contradicts to the article 18 the law “About mortgage” and breaks the rights of wadsetters. According to this article, if mortgage provides return of the credit for buying the real estate which is transferred to the mortgage, contract of selling and purchasing of this property and mortgage contract could be made at one time.

Legislation suggests limiting this right of wadsetters what could not be done according to the article 22 of Constitution of Ukraine.

For correcting disadvantages of legislation you should point out this law does not spread to state registration of mortgage and withdraw the word “mortgage” from documents.

Besides, this document provides the liquidation of institute of state registration of deals. Such innovation is useless because the goal of state registration of deals is provide the clarity of separate civil contracts and make additional actions of security from the side of notary office sides of deal from dishonesty and deceit.