Civil Code amendments to improve ownership regulation
MOSCOW, April 9 - RAPSI. The new Civil Code amendments will substantially change ownership provisions and help better protect real rights, Pavel Krasheninnikov, the head of the State Duma Civil, Criminal, Arbitration and Procedural Legislation Committee, states.
“The proposed amendments will undoubtedly make the laws governing individual and corporate property rights more flexible, which means real rights will be better protected,” Pavel Krasheninnikov said.
President Dmitry Medvedev submitted the amendments on basic civil law institutions to the State Duma. They were prepared over several years and are necessary as economic realities have changed dramatically since the code’s first section was adopted 15 years ago.
The committee head noted that the provisions on ownership acquisition by a bona fide purchaser and acquisition of ownership to personal and real property, including unauthorized construction and single property complexes, will be set forth in more detail.
The bill will add new provisions on land ownership, in particular the property owner’s preemptive right and his neighbors’ rights.
For the first time, the Civil Code will have a separate chapter on the ownership of buildings, structures and premises, and residential inclusive, Krasheninnikov said.