The Ministry of Justice announced today, Wednesday, that it has raised the upper limit on the value of properties that owners wish to transfer electronically from 3 million riyals to 20 million riyals through the Najiz e-portal.
The Ministry confirmed that real estate transfer is available online 24 hours a day via the Najiz portal, following simple and easy steps that eliminate the need for beneficiaries to visit notary offices.
The Ministry of Justice explained that the electronic real estate transfer service allows the seller and buyer to complete the transfer procedures, and agree on the details of the sale without the need for certification by a notary public or registrar. The Ministry has also made available a service to verify bank account ownership, in addition to verifying payment of real estate transaction tax.
The Ministry of Justice stated, that it continues to enhance technology and provide the best innovative digital solutions to serve beneficiaries and streamline procedures for them; this comes as the Ministry of Justice works on a series of development initiatives and reforms that have improved the efficiency of notarization and real estate security.
The Ministry of Justice announced earlier that the total number of beneficiaries of Real Estate Discharge Service From February 2020 to date, the number of beneficiaries has exceeded 65,000, while the value of transactions has reached approximately 3 billion riyals.
