Ukrainians were promised compensation of damage from apartment scams

The money for compensation to affected customers, plans to borrow from the administrative fee for state registration of property rights.

The Ukrainians, who fell for the Scam and bought a “bad” apartment, the real owner which then the court could overturn a contract, promise help.

The Verkhovna Rada registered the bill No. 6442, which provides for amendments to the law on state registration of property rights to immovable property.

The document was submitted to Parliament, the Cabinet, so the chances for its adoption are very high.

As noted in the explanatory Memorandum, Ukraine has a legal vacuum on the issue of compensation for material damage caused to natural and legal persons who have purchased property in the state when her status was legal, and then changed by the court. After all, the state guarantees citizens, that all information contained in the registry of property rights is accurate.

The government noted: the bill is designed, according to the action plan for the implementation in Ukraine of the best practices of quality control proposed by the World Bank in the methodology of the rating “doing business”.

The money for compensation to affected customers, plans to borrow from the administrative fee for state registration of property rights: 10% of this amount will be deducted to a special Fund of the state budget.

As expected in the Cabinet, the adoption of this bill will not only take care of ordinary Ukrainians, but also to increase the investment attractiveness of the country, as the business is guaranteed greater protection of property.

It is unclear whether the rise in connection with this administrative fee for the registration of property rights, or officials will compensate for the damage to the deceived buyers of available funds. Now, this amount is 10% of the minimum wage, if we are talking about registration of rights on real estate within 5 working days and 100% in the case of registration for 2 days, 200% for 24 hours and 500% for 2 hours.

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