The New Russian Civil Code Bill for the second reading is published

The New Russian Civil Code Bill for the second reading is published

The Russian Duma’s committee on the civil, criminal, arbitrage and procedure legislation has published the amended text of the New Russian Civil Code prepared for the second reading, which was initially presented in April 2012.

The approved proposals of interested parties and institutions were gathered into a single document counting more than 800 pages. It is expected that the document will pass the second reading this September.

The most significant changes to the document are as follows:

• introducing the article 8.1 named ‘State registration of rights to immovable property’ providing notarization (certification by a notary public) of real estate transactions ;

• cancellation of the article named ‘Affiliation’ where were eight possible variations of relations that can be treated as affiliated relations.

The text of the draft № 47538-6 prepared for the second reading is available on the official web-site of the Duma’s Committee.

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