<\/p>\n\n\n\n
Following the issuance of the Cabinet decision approving the system of physical registration of real estate, the Minister of Municipal Affairs, Rural Affairs and Housing, Chairman of the General Real Estate Authority Board, Mr. Majid bin Abdullah Alhakil, affirmed that the issuance of the system comes as an extension of the interest and support that the real estate sector in the Kingdom enjoys; with the aim of increasing the reliability of ownership, enhancing the accuracy of information about real estate, and safeguarding the rights of the stakeholders in the sector, in line with the objectives of the Kingdom Vision 2030 programs in digital transformation, developing the real estate sector, and enhancing the investment attractiveness in the real estate sector.<\/p>\n\n\n\n
Hakil emphasized that the role of the real estate registration system is to unify supervision over real estate registration under one authority with ease and simplicity, in accordance with best international practices, to ensure the accuracy of information and data regarding all types of real estate, and to build a comprehensive real estate registry for all subsequent transactions following the real estate registration in the unified real estate registry.<\/p>\n\n\n\n
======<\/p>\n\n\n\n
The real estate registration system includes a real estate registry that ensures that new property owners are informed of all changes to the property\u2019s description, such as construction, additions, or modifications. The real estate registration takes effect immediately upon publication of the property listings, in addition to creating a record linked to the real estate records described on the map.<\/p>\n\n\n\n
====<\/p>\n\n\n\n
The real estate registration system stipulates that each subdivided unit located on a common property must have its own registration document of ownership. The common property documents determined by the regulation must be registered in the real estate registry, and the competent authority establishes a register of the properties described on the map that is linked to the real estate registry.<\/p>\n\n\n\n
All transactions relating to the properties described on the map are recorded in the land registry in accordance with the system, and the regulations specify the procedures for registration; the registry issues a certificate attesting to this, and the transactions are effective and produce their legal and administrative effects only through this registration.<\/p>\n\n\n\n
============<\/strong><\/p>\n\n\n\n The physical registration system stipulates that the property owner must, within 30 days of the completion of the property described on the map, submit a request to transfer the data contained in the registry to the real estate registry and to issue a title deed for the property.<\/p>\n\n\n\n ========<\/p>\n\n\n\n The system identified 5 cases<\/strong><\/p>\n\n\n\n The real estate registration system has identified 5 cases of violations or obstacles to its implementation, punishable by a fine of up to 100,000 riyals. The new real estate registration system replaces the real estate registration system issued 20 years ago and repeals all provisions that conflict with it.<\/p>\n\n\n\n System violations were characterized as follows:<\/p>\n\n\n\n - Refrain from disclosing any documents or data necessary for the validity and integrity of the first in-kind registration procedures.<\/p>\n\n\n\n - Obstructing the work of the competent authority related to real estate registration procedures.<\/p>\n\n\n\n - Failure to report any change in the description of the property due to the construction, addition, modification or removal of buildings.<\/p>\n\n\n\n - Failure to submit the application referred to in the system within the specified period, which obliges the owner of the property within 30 days after the completion of the off-plan property to submit a request to transfer his data contained in the real estate registry and issue the title deed.<\/p>\n\n\n\n - Failure to submit the first in rem registration application for his property within the specified period for submitting the applications referred to in the Law.<\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>Following the issuance of the Cabinet decision approving the Real Estate Registration System, the Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the General Authority for Real Estate, Mr. Majid bin Abdullah Al-Hogail, said that the system comes as an extension of the interest and support enjoyed by the real estate sector in the Kingdom, with the aim of increasing the reliability of ownership, enhancing the accuracy of information about real estate, and preserving the rights of dealers in ... 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days to transfer data<\/mark><\/strong><\/h3>\n\n\n\n
100,000 riyals fine for violations of the system for registering real estate in the name<\/mark><\/strong><\/h3>\n\n\n\n