On Thursday, July 1, amendments to the Land Register Law came into force, according to which the Cabinet of Ministers adopted amendments providing a significant reduction of the state fee for corroborating property rights - for residents by 25% and for legal entities, in some cases, by 33%.
Deputy Prime Minister, Minister of Justice Jānis Bordāns: “Reducing land registry fees will have a positive effect on people 's plans to buy housing. In addition, the reduction of the state fee rate will facilitate faster and more timely registration of property rights in the land register, thus gaining greater legal protection for property entered in public registers.”
As of 1 July 2021, a natural person will have to pay a state fee of 1.5% of the property value for corroborating the property rights in the land register, while a legal entity will now have to pay 2% of the property for corroboration of an apartment property instead of the current 6%. For example, when purchasing immovable property in the amount of 60,000 EUR, from now on the state fee will be 900 EUR (instead of 1,200 EUR).
Also, with the entry into force of the amendments from 1 July, the procedures related to the registration and deletion of a structure in the land register are simplified, ensuring the transfer of the necessary data between the State Unified Computerized Land Register and the Construction Information System. Thus, the administrative burden for building owners is reduced by one visit to a district (city) court or construction board, facilitating the process of submitting documents to the land register, as individuals will not have to attach documents issued by the construction board to the corroboration request. The new arrangements will provide this in electronic form at the level of information systems for documents adopted by the Construction Board from 1 January 2020.