Self-Ban on Real Estate Transactions in Kyrgyzstan: The Law Presented for Discussion
The proposed changes concern the law on state registration of rights to real estate.
According to the new provision, owners will be able to voluntarily impose a ban on conducting registration operations with their property, including sale, donation, encumbrance, and re-registration.
A record of such a ban will be entered into the Unified State Register, which will serve as the basis for refusing to register any transactions with the given property.
Applications for imposing a self-ban can be submitted free of charge, both in person and through the electronic government services portal.
To lift the self-ban, the owner must also submit an application; however, the cancellation will take effect only 24 hours after the register is updated.
It is important to note that this mechanism will not apply to certain situations, such as court decisions, inheritance rights, and corrections of technical errors.
The explanatory note to the draft law emphasizes that the initiative is aimed at protecting citizens from fraudulent activities in the real estate sector, especially concerning elderly individuals.
It is expected that this draft law will help reduce the number of cases of illegal re-registration of housing and improve the protection of property owners' rights.
After the public discussion is completed, the document will be revised taking into account the proposals received from participants.
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