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Law of the KR on state registration of rights to immovable property |
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THE KYRGYZ REPUBLIC
LAW
ON STATE REGISTRATION OF RIGHTS TO IMMOVABLE PROPERTY
(As amended by the Law of the KR dated of March 6, 2003 N53)
Adopted by the Legislative Assembly
of the Jogorku Kenesh of the Kyrgyz Republic November 26, 1998
This Law establishes legal fundamentals and the procedure for functioning of the single state system of registration of rights to immovable property on the whole territory of the Kyrgyz Republic. The purpose of registration system is to ensure state protection of registered rights to immovable property and to encourage the development of the real estate market. This Law effectuates the registration system envisaged by the Civil Code of the Kyrgyz Republic.
Chapter 1 General provisions
Article 1. Terms and definitions
1. State registration: record keeping by the registration body of ownership rights and other rights to immovable property, limitations, emergence, transfer and termination of those rights, as established by this Law.
2. Immovable property (real estate): land plots, parts of subsoil, isolated water objects and everything which is firmly connected with land, removal of which is impossible without incommensurate damage to their purpose, including forests, perennial plants, buildings, installations, etc.
3. Unit of immovable property (real estate): a land plot, building, installation, apartment or any other unit of real estate which is separately defined (has separately established border) and may be owned or used according to legislation of the Kyrgyz Republic.
4. Registration system: the single state system of registration of rights to a unit of the immovable property.
5. Registration body: the state registration body acting in accordance with this Law which is responsible for registration of all rights to immovable property and transactions therewith.
6. To register means to enter a record in the registration card (state registry) on emergence, alteration, termination or existence of the right and limitations of rights with respect to the unit of the immovable property which is assigned its identification number in accordance with the established procedure.
7. Identification number is an individual, non-repeated on the territory of the Kyrgyz Republic registration code of the unit of immovable property which is assigned in accordance with the procedure established by this Law and shall be retained while this unit of real estate exists as a whole.
8. Owner or user (title holder) is an individual or legal entity whose last name or denomination is registered pursuant to this Law as the owner or user of the unit of immovable property.
9. Transaction with real estate: actions of individuals and legal entities directed at establishment, alteration or termination of rights to a unit of immovable property.