The People's Assembly today, in its third session of the second special session held under the chairmanship of Hammouda Sabbagh, Speaker of the Assembly, approved the draft law on real estate fees, ending the implementation of Law No. 429 of 1948 and its amendments, and became a law.
The articles of the law determine the value of the fees to be paid in return for providing the real estate registration service on the basis of the prevailing value of the real estate units approved by the Ministry of Finance in accordance with a set of specified percentages, provided that one third of these fees are collected in the event that the registration is based on several cases, including “a non-removable instrument and a final judgment issued in A case whose reference was registered before the law came into effect and on the death of the inheritor in the transfer and usufruct transactions.
The articles indicate that a fiscal stamp fee of 5 percent of the amount of the fees stipulated in this law must be levied, as well as a local administration fee of 10 percent of the aforementioned fees, while 80 percent of the fees charged to their owners are refunded if the transaction is not accompanied by registration in the real estate newspaper while not Transaction fees for “moving, correcting descriptions, disposing without evidence, data, technical works fees, financial stamp fees, and local administration fees are returned”.
All “ministries, public bodies of an administrative nature, administrative units, Islamic and non-Islamic endowments, associations and private institutions legally recognized and housing cooperative societies” are exempted from the fees specified in this law. The exemption does not include the price of forms, publications, border signs, and transportation insurance while real estate departments are exempted in the course of correcting errors Of the fees stipulated in this law.
The Council also approved a number of reports of the competent committees on the legislative decrees received by the Council, including “exemption from fines resulting from violations of Civil Status Law No. 13 of 2021”, “Consumer Protection Law” and “Amending some articles of Decree 20 of 2017 governing the work of the Council of Ministers.” .
The session was attended by the Ministers of Local Administration and Environment, Engineer Hussein Makhlouf, and the Interior Major General Muhammad Al-Rahmoun, Domestic Trade and Consumer Protection Talal Al-Barazi, Communications and Technology Eng. Iyad Al-Khatib, Public Works and Housing Eng. Suhail Abdul Latif, and the State for People's Assembly Affairs, Eng. Maloul Al Hussein.
The session rose to 12 noon tomorrow, Wednesday.