Our point of view

Russian Legal Update 03/2013

6 March 2013

REGISTRATION OF REAL ESTATE LEASE AGREEMENTS REMAINS A REQUIREMENT

The Russian president has signed into effect a new federal law amending various Russian legislation which de facto preserves the rules requiring the official registration of real estate lease agreements entered into for a period of one year or more. The changes come just after another law became effective on 01 March 2013 cancelling the need to register these and other agreements. However, under the new law, the previous rules on the registration of real estate leases will continue to apply.

Nevertheless, as of 01 March 2013, it has no longer been necessary to register sale and purchase agreements of “enterprises”, residential buildings, apartments or rooms, real estate gift agreements, or annuity (renta) agreements.

Please watch for an upcoming Business Brunch to be held by our specialists in April 2013 which will be devoted to a new decree passed in 25 January 2013 by the Plenum of the Supreme State Commercial (Arbitrazh) Court of the Russian Federation related to lease issues.