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From January 1, 2010 all payments for real estate transactions will be conducted only by bank transfer.

24.11.2009

From January 1, 2010 all payments for real estate transactions will be conducted only by bank transfer.

These changes provide for Notaries and notary activity, which the government will discuss in tomorrow's meeting, told the government news service, quoted by BTA.

Before the notary seller and the buyer will specify the account under which you will make payments (single or staggered) between them. This may be a special bank account or account of the notary in their chosen bank. The purpose of the legislative change is to prevent opportunities for the use of real estate transactions for money laundering and to combat property fraud.

Conditions for the credit of the special bank account of the notary and orders for payment of notary will be governed by written agreement between the parties and the notary in the transaction. It was agreed to avoid execution on the funds in special bank account for the notary's duties to safeguard the interests of the parties. The bill represents a transition to a comprehensive system of relations connected with payments on reimbursable transactions and control them, to be governed by a separate special law for the deposit insurance fund.

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