Law of the Republic of Crimea “On peculiarities of regulation of property and land relations on the territory of the Republic of Crimea” of 31 July 2014 №38-ZRK

Law of the Republic of Crimea “On peculiarities of regulation of property and land relations on the territory of the Republic of Crimea” of 31 July 2014 №38-ZRK
The Law was adopted on 31 June 2014 and came into force on 12 August 2014. Para. 3 Part 1 of Art. 2 states that all lands except private and municipal property are recognized as the property of the Republic of Crimea. Herewith a restraint is established on the alienation of land plots which prohibits foreign citizens and foreign legal entities from selling or otherwise transferring interest in their property to another foreign citizen, stateless person or a foreign legal entity. Art. 5 establishes the obligation to re-register the property as required by the legislation of the Russian Federation till 01.01.2017. According to Art . 4 of the Law in the case of re-registration of the property before that date the owners lose the right to property.

 

Para. 3 Part 1 of Art. 2

Rights to immovable property, arising before the entry into force of the Federal Constitutional Law on the territory of the Republic of Crimea in accordance with the regulations in force up to the specified torque (hereinafter – the previously existing acts) recognizes the following rights established by the legislation of the Russian Federation:

3) All land, except for private and municipal property, recognized as the property of the Republic of Crimea.

Full content of the pact you can read by clicking on this link.