Register of ownership rights to property free from risk

Justice Minister of Ukraine Pavlo Petrenko has said that the state register of ownership rights to immovable property is free from risk, and information in the register is protected from abuses by persons who have access to it.

"Our register is protected directly by the State Service of Special Communications and Information Protection… As for the fact that we get rid of these Soviet documents, certificates and other documents, I would give you a figure. In 2014, the state spent UAH 360 million on these certificates and concrete private companies received the money," the minister said at a meeting of the parliamentary committee for economic policy in Kyiv on Wednesday.

He said that Ukrainian notaries carried out 50% of all registration actions in Ukraine in the first two months when they were authorized to register business and property.

"As for the register of business – 5,000 out of 7,000 notaries have been connected to the register and work… In two months of the operation no claim regarding notaries under the new law has been filed, and I hope that their number would be small," Petrenko said.

As reported, Ukrainian notaries started providing business and property registration services from December 21, 2015.

The new law on the state registration of ownership rights to immovable property took effect on January 1, 2016. Notaries have the full range of powers as state registrars of ownership rights to property.