Real Estate Registration System: Preventing the disposal of real estate for violators. Fines up to 100 thousand riyals

Poll: Abdullah Al-Salih

The General Authority for Real Estate has taken advanced steps in preserving and digitizing the real estate wealth by announcing a number of policies and initiatives, as it adopted the «Real Estate Registry» that works on registering the property in kind for all its information and updates of the transactions that took place on it, which maintains the guarantee of the rights of owners and investors.

Amlak real estate newspaper conducted a survey on compliance with the real estate registry regulations and the violations that landlords fall into and the resulting penalties.

Abdulrahman Al-Dargham: Penalties for filling inaccurate data

<Abdulrahman Al-Dargham, from Al-Shaalan Real Estate in Shafa district, stressed the importance of real estate registration in the real estate registry correctly and completely; stressing that not including the complete property information is a violation, pointing out that the name «in kind registration» does not tolerate errors that consist of: Listing errors, filling in inaccurate data, and everything related to the national address, whose importance is highlighted in drawing the attention of traders and matching the recorded data to reality, which preserved many rights and prevented them from confusion, especially since the site can be accessed through "Google Map".

Al-Dargham said that the title "Real Estate Registration" does not tolerate errors. Al-Dargham said that the system imposed a fine of up to 100 thousand riyals in 5 cases on those who violate or obstruct the implementation of the system, and these penalties were issued to develop the economic movement and attract traders from inside and outside the country, in the regulation you find confidence and an attractive force for money and business, and the source of this power is to identify violations and impose a penalty for them.

Dargham said. The real estate registration has many benefits for the owner and the beneficiaries of the trading process; it lies in the governance and acceleration of real estate transactions procedures and their digital preservation for reference, and the access of the parties to the property information transparently and effortlessly by referring to the register, which facilitates the trading and classification processes, and preserves the status of some historical properties that may benefit investors in tourism activities as archaeological sites, and the benefits are evident to the public after the passage of time, which enhances achievement in implementation, reliability, preserving the rights of parties, making real estate information available to all and promoting the principle of transparency and reducing transaction interference.

Registration.

Mohammed Al-Hassami: Delaying and not registering the property is a clear violation of the system

. <Mohammed Al-Hassami, a real estate expert, stressed that the process of real estate registration has great benefits and effects on the real estate sector, as it enhances transparency and guarantees the rights of the concerned parties, as by ensuring the legal ownership of real estate, disputes between individuals are reduced and facilitating the sale and purchase processes. It also contributes to enhancing confidence in the market and helps attract investments. <He stressed that not registering the property or delaying its registration in the real estate registry is a clear violation of the system, as well as manipulating the property data or registering on the basis of inaccurate information, pointing out that failure to comply with the correct registration may lead to legal disputes, and stressed that these violations entail penalties specified by the regulations for violators of in-kind registration of real estate; including financial fines or preventing the owner of the property from transferring or disposing of it. The penalties are applied through the authorities responsible for real estate registration, such as the Ministry of Justice or the Public Authority for Real Estate, by imposing legal procedures on violators.

Husami explained that these violations entail penalties specified in the regulations for violators of real estate registration. <Real estate registration provides a legal guarantee of ownership and protects the rights of owners, and ensures that their properties are protected from any future claims. It also makes it easier for them to access financing services such as real estate loans, and enhances the chances of liquidating real estate in the event of a sale.