Land and Area: Real Estate Ownership Bill Does Not Include Taxes or Fees
The Land and Surveys Department confirmed that the Real Estate Ownership Bill aims to facilitate the execution of joint ownership removal transactions and to digitize real estate procedures and transactions, including electronic sales and digital signatures, without imposing new taxes or fees. The law also seeks to support investment, stimulate the real estate sector, regulate the sale of units off-plan, and improve the quality of real estate services. Some articles of the draft law have been approved by the Parliamentary Legal Committee, with the goal of developing the real estate ownership system, simplifying procedures, and safeguarding rights.
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