According to the law, all real estate transactions are subject to registration, contracts for which are concluded for a period of 1 year or more. Such operations are carried out by the registration chamber, the official name of which is the Federal Agency for Real Estate Cadastre.
Registration chamber activities
In the legislation of the Russian Federation, there is a draft law providing for the registration of state registration of rights to real estate and transactions with it. The essence of this registration is to draw up an act of legal recognition and legal confirmation by the state of rights to real estate. This registration takes place within the county in which the property being registered is located.
State registration of rights is carried out by the Federal Registration Service and its regional divisions, which are the territorial registration chambers of real estate transactions. The competence of the registration chamber includes: verification of the authenticity of the documents provided by the applicant and the presence of legal rights of the authority or the individual who prepared the document - thereby, the actions of the notary office are monitored; verification of early registration of rights; direct registration of ownership and the issuance of an appropriate certificate of title to real estate. In addition, if a specialist from the registration chamber identifies obstacles to formalizing state registration of property rights, the applicant may be refused to accept the package of documents for registration, having received appropriate recommendations for their elimination.
Registration objectives
Registration of the right to real estate protects the interests of the new owners of this property, confirming their legal rights to it. With a certificate of registration of real estate, the possibility of offenses and fraudulent actions with real estate when making transactions with it is prevented. In addition, the registration of real estate regulates the collection of taxes to the state budget.
But it is worth knowing the differences between concepts such as ownership of real estate and the right to own this real estate. The first is drawn up in the registration chamber, but its absence is not a reason to recognize the contract concluded between the buyer and the seller as legally powerless. Until the real estate is fully registered in ownership after its transfer under the acceptance certificate, the buyer becomes its legal owner, but he is not entitled to dispose of this real estate until the registration of ownership in the registration chamber of real estate transactions. Until then, the ownership remains with the seller.
