Real Estate Interests Directorate: Ensure that a transfer of a sum of the property price is attached to a bank account in the sales contract transactions

Damascus-Sana

The Directorate General of Real Estate Departments issued a circular to the heads of the real estate documentation offices about making sure to attach a notice to transfer a sum of the price of the property in a bank account within the sales contract transactions.

The Directorate stated in its circular, which Sana received a copy of, that the heads of the real estate documentation offices must ensure that a notice proving the transfer of the price of the sale or part of it from the buyer’s account is transferred to the seller’s account in the consensual sales contracts transaction before documenting it.

The Directorate excluded in its circulation a number of transactions because it does not need to attach the aforementioned notice within it, which are "transactions based on judicial rulings, whether the ruling was issued before or after the date of 15-20-2020" and "free gift transactions, transfer to heirs, jurisdiction, free swap and every real estate transaction It does not relate to the transfer of a real estate right to a third party in exchange for a “and” non-segregated judicial execution transactions related to a completed sale or based on a fixed date of reference and the organization prior to the date 15-2-2020 ″.

The Council of Ministers issued late last month a decision that obliges the public authorities legally authorized to maintain records of ownership of real estate and vehicles of all kinds and book fairly not to document sales contracts or agencies involved in a completed and incomplete sale before attaching what feels the payment of the price or part of it in the owner’s bank account or his general successor or The private or his representative legally as of 15-2-2020.