The law on "protection of the rights of construction investors" and its innovations

On the 10th of September the Law No. 2518-IX "On guaranteeing property rights to real estate objects to be built in the future" was officially published.

It foresees the following innovations:

• the developer will not be able to sell apartments without having permission documents and all the conditions for completing the object;
• each future apartment in an apartment building must be registered in the register of property rights of the Ministry of Justice as a separate object of property rights;
• the developer must disclose information about the number of apartments already sold in the building;
• the investor has the right to terminate an unfavorable contract with the developer;
• the developer is obliged to connect the building to engineering networks on a permanent basis before putting the building into operation.

According to the final provisions of the Law, it shall enter into force one month after its publication, but not earlier than the date of entry into force of the Law "On Amendments to the Tax Code of Ukraine on Promoting the Development of Volunteer Activities and Activities of Non-Profit Institutions and Organizations in the Conditions of Armed Aggression of the Russian Federation against Ukraine".