A convenience has been provided for transactions before the land registry regarding sales, donations, and exchanges of real estate.
The Regulation Amending the Regulation on the Procedures and Principles for Title Deed Transactions Carried Out By and Before Land Registries with regards to Real Estate Registered outside of the Realm of their Authority was published in the Official Gazette dated 14 December 2019 and numbered 30978 and which entered into force on 1 January 2020. The Regulation introduced a significant amendment that enables parties to carry out title deed transactions separately without needing to be present at the same land registry/mission unit abroad.
Before the relevant amendments, all transactions concerning the transfer of real estate ownership could only be made with both parties present at the same time in the same Unit and the Official Deed had to be signed by the parties simultaneously.
This requirement led to significant practical difficulties especially if one of the parties resides or is located abroad.
The Regulation set forth the practical details of the amendment introduced by the Land Registry Law on 10 July 2019. By means of the Regulation, beginning on 1 January 2020, transactions concerning the sale, donation or exchange of real estate may be made by parties who are present before different Units with different locations, even if one of the parties is present before a Unit that is located abroad.
