Lomanov Batyr Jumaevich
Founder and Director of Hekem and Hekem Audit Individual Enterprises
“Everyone has the right to own property, to own, use and dispose of it individually as well as jointly with other persons. The right of inheritance is guaranteed”
Article 48 of the Constitution of Turkmenistan.
On May 3, 2014, the Law of Turkmenistan “On State Registration of Rights to Immovable Property and Transactions Related to It” was adopted, which entered into force on January 1, 2016. The legislation on immovable property is based on the Constitution of Turkmenistan and consists of the Civil Code of Turkmenistan, this Law and other regulatory legal acts of Turkmenistan. The law establishes the legal basis and procedure for state registration of rights to real estate and encumbrances of rights to it, as well as transactions related to it, in order to recognize and protect the state registered in accordance with this Law rights, encumbrances on real estate rights and transactions related to by him. According to Art. 54 of the Law on Real Estate Rights, arisen before the entry into force of this Law, that is, until January 1, 2016, not registered in the State Register, shall be recognized as valid subject to their compliance with the legislation of Turkmenistan in force at the time of the occurrence of the relevant right. State registration of such rights is carried out at the request of their owners. State registration of the right to immovable property arising prior to the entry into force of this Law is required during state registration of the transfer of this right arising after the entry into force of this Law, its encumbrance or transaction with the immovable property made after the entry into force of this Law. According to Art. 6 The law establishes the rules of state registration in relation to the following types of real estate:
The following rights and encumbrances on real property rights are subject to state registration:
The right to encumber the right to immovable property subject to state registration arises, passes, and terminates from the moment of state registration, respectively, of their occurrence, transition, and termination. The state registration of the occurrence, transfer, termination of the right or encumbrance of the right to immovable property may be invalidated only in a court of law. The subjects of state registration of rights to real estate and transactions related to it are individuals and legal entities that are owners of real estate and (or) rights in respect of real estate objects located in Turkmenistan. Moreover, individuals and legal entities can participate in relations regulated by this Law through their representatives, unless otherwise provided by the legislation of Turkmenistan. The powers of the representatives of individuals must be confirmed by a notarized power of attorney, unless otherwise provided by the legislation of Turkmenistan. In accordance with paragraph 11 of Article 7 of the Law of Turkmenistan “On Realtor Activity”, adopted on 30.05.2015, realtor enterprises assist the consumer in submitting documents for state registration of rights to real estate and transactions with it. However, as prescribed in Art. The 16th Law of the basis for the provision of real estate services is a contract for the provision of real estate services, concluded between the real estate organization and the consumer services in accordance with the laws of Turkmenistan. The contract between the realtor organization and the consumer of the service gives the realtor organization the right to act in the interests of the consumer of the service to the extent specified in the contract without a power of attorney, unless the legislation of Turkmenistan or the contract establishes the requirement for a power of attorney to perform certain actions. The power of attorney issued by the realtor organization to the consumer of the service on the basis of an agreement is subject to notarization.
The state registration of rights is carried out no later than within one month from the date of submission of the application and documents necessary for state registration Documents submitted for state registration: an application for state registration; identification information to be entered into the registration book when performing registration actions; other documents that are the basis for state registration; payment for state registration. When documents are received from judicial or other state bodies, the missing information for the implementation of registration actions by the territorial office of the Service is requested independently.