The new Law on Procedures Relating to Registration of Real Estate in Land Registry will facilitate a faster and more efficient registration procedure thanks to e-counter, stronger legal security in trading in real estate, and a more efficient process regarding sales contract verification and land registry entry.
The new law has been drafted by a task force comprising of the representatives of the State Geodetic Authority, USAID’s Business Enabling Project (USAID BEP) and the National Alliance for Local Economic Development (NALED), and has been submitted for a public debate.
“The new Law on Procedures Relating to Registration of Real Estate in Land Registry facilitates a faster entry into the land registry, better availability of land registry data, reliability and effectiveness of land registry. The law stipulates a substantial lower number of procedures both for the citizens and companies. Following the implementation of this law, people will no longer have to go from counter to counter, but would finish the entire procedure with public notaries, in one go”, said Borko Draskovic, Director of the State Geodetic Authority.
With the implementation of e-counter, the relevant civil services will also be more efficient, while the process of updating the land registry will be quicker, as it will be the calculation of property tax and the tax on the transfer of absolute rights (real estate sales tax). Furthermore, these new e-services will contribute to better environment for doing business in Serbia, and will boost Serbia’s ranking on the World Bank’s Doing Business list.
“The law also improves the legal safety of everybody who participates in the relevant procedures thus facilitating a safer sale of real estate both for the citizens and legal entities”, says Aleksandra Damnjanovic, the State Secretary in the Ministry of Construction, Transport and Infrastructure.
(Nova Ekonomija, 08.08.2017)
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