The bill (Reg. No. 1177) aims to bring existing legislation acts of Ukraine in accordance with the demands of legislation due to the introduction of state registration of property rights on immovable property. The draft law, in particular, provides the exclusion of provision regarding the state registrations of transactions from the legislative acts of Ukraine, and supplementation of the respectful norms with provisions, which determine the order of acquisition, transfer and termination of property rights and other rights on immovable property.
It was stated that the realization of draft law provisions “will settle provisions of other legislative acts that regulate social relations in the sphere of immovable property turnover. It will result in the full and effective functioning of the system of state registration of property rights on immovable property.”