The government has prepared a new law for registering the real estate
assets, which obliges the Registration Office to financially reward all
businesses and individuals if there will be fake documents released by
this agency.
“If the registration office has given an information and the applicant has benefited a fake information, the Registration Office must respond for the damages that have been caused to the subject”, says the Minister of Justice, Eduart Halimi.
The bank representatives, who are directly affected by the insecurity of property ownership titles, have welcomed the law.
“Our biggest problem is that of the safety of property titles. If we give a loan against a given property title, we must be sure that this property title will guarantee our money”, says Sayan Pencapligil.
The law also reduces the procedures for receiving ownership titles, by digitalizing the archive.
“The information will be taken within a minute by the Registration Office, which makes it easier and faster for the banks to verify the property titles and to approve a loan or not. It also cuts the expenses”, Halimi explains.
The digitalized archive will offer information not only for banks, but also for notaries, who will make the procedures for the citizens.
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