State Registration of Proprietary Rights
The state registration of proprietary rights for immovable property and their encumbrances is an official state recognition and confirmation of facts of arising, transfer or termination of rights to immovable property, burdening such rights by making an appropriate entry in the State Register of proprietary rights for immovable property (the State Register of Rights).
Only registered rights are legally binding to other (third) parties, and the person is entitled to register the right to property only it belongs to such person according to the valid documents meeting requirements of the legislation.
Decree as of December 25, 2015 No. 1127 "On State Registration of Proprietary Rights to Real Property and Their Encumbrances". http://zakon4.rada.gov.ua/laws/show/1127-2015-%D0%BF
As of January 1, 2016 a new edition of the Law of Ukraine "On the registration of immovable property" came into force
This Law of Ukraine has identified a number of changes regarding the state registration (acquisition of title). Please note that this Law of Ukraine determines the Mortgagee as a legal successor and Notary public as the state registrar. The notary acts as the state registrar, as evidenced by Article 9 of the Law of Ukraine "On State Registration of Proprietary Rights to Real Property and Their Encumbrances". Therefore, the re-registration of property rights, which is held by the notary public, is completely legal!
LLC "UkrBorg" reminds you that the transfer to the mortgagee the ownership of the mortgaged property in accordance with article 37 of the Law of Ukraine "On mortgage" is the only legal mechanism! A prerequisite for the implementation of such an option is a contract to satisfy the requirements of the mortgagee or the relevant clause in the mortgage agreement, which is equivalent to such an agreement on its legal implications and involves the transfer of ownership of the mortgagee for the mortgaged property as the part of performance of the principal obligation.