Registration of Immovable Properties

The new Albanian law on Registration of Immovable Property entered into force on 28 April 2012. Together with the amendments the Law on notary services it substantially amended the entire process of registration of real estate and real rights. Pursuant to the new legal framework, transactions affecting land ownership or real rights on immoveable shall be simplified and done in a "one stop shop". Transaction shall be done in front of a notary who can access the "Online Immovable Property Register" and verify online immovable property rights and status of the immovable property. Any contract concerning real estate or real rights shall be registered by the notary with the Immovable Property Register. The amount paid in by the purchaser for the immovable property transaction shall be deposited with the notary as escrow agent until the title has been effectively registered with the Immovable Property Register. 

However, secondary legislation regulating different aspects related to the implementation of the new law has not been yet adopted. Actually, two draft decisions of the Council of the Ministers and an Instruction of the Minister of Justice are under discussion, but not yet approved. Secondary legislation should, inter alia, regulate the main aspects related to the digitalization of the online Immovable Property Register, the access to the Register, fees applicable for the completion of the transactions with immovable properties. 

Further, in order to fully implement such amendments, the digitalization of the entire Immovable Property Register is required. It is expected that the entire process of digitalization of the Immovable Property Registry and notaries' offices will be completed by the end of 2012. The Immovable Property Register in Tirana and Durres and the public notaries in these cities would be the first to operate with the new digitalized Register and the new rules of immovable property registration.

Cadastral maps made as per the requirements of the new law shall be effective after 1 January 2014. Until that date the existing cadastral maps remain in force.

Author

Jonida Braja

Associate
Albania