Real Estate Systems Forum discusses real estate documentation issues in its second session

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<Dr. Khalid Al-Hussein, Dean of the Faculty of Law at King Faisal University in Al-Ahsa, chaired the second session of the Real Estate Systems Forum, which focused on the development of real estate documentation, in which Dr. Ahmed bin Abdulaziz Al-Omaira, a judge at the Supreme Court, listed the obstacles facing real estate documentation, which are represented in the confusion in title deeds and the history of neighborhoods and large lands, and must issue principles from the Supreme Court in this regard, and solve the delay in issuing title deeds due to the large number of cases and delayed procedures, and therefore the courts must link electronically with government agencies that must write to them and assign special departments for title deeds, which is a factor in the real estate documentation process in the Kingdom. <For his part, Sheikh Abdulrahman Al-Bujaber pointed out that real estate documentation since the establishment of notaries in the Kingdom has witnessed developments, most notably the abolition of fees that were imposed on real estate procedures and the abolition of witnesses in sales that are in government and private schemes and only one witness for a woman, if he is forbidden to her. Al-Bujaber added that one of the ways to develop real estate documentation that the ministry worked on is related to company contracts by not linking the documentation of company incorporation contracts, amendments and company resolutions to the notary whose head office is located within the spatial jurisdiction of the notary in which he works and the issuance of the notarization system in order for notaries to perform the work of notaries in accordance with the articles of the regulation governing notarial work.

Dr. Omar Al-Khouli, professor of law at the Faculty of Law at King Abdulaziz University, referred to the issuance of the «Mortgage System» by a decision of the Council of Ministers. It aims to regulate the nature of the contractual relationship between financing entities and those wishing to obtain financial financing from these entities so that the level of credit is raised by providing appropriate security in exchange for obtaining financing.