Law to protect Ukrainians against uncontrolled growth of prices for services of notaries

The Law of Ukraine «On Amending the Law of Ukraine «On Notariate», developed by the Ministry of Justice, will protect Ukrainians against uncontrolled growth of prices for services notaries, announced head of the State Registration Service of Ukraine Dmytro Vorona, as reported by the agency’s press-service.

«After 1 January this year about 7 thousand notaries obtained the right to conduct state registration of immovable property. Real estate transactions take place mainly in the secondary market, so nearly 50% of agreements today are formalized by notaries. By the end of the year this indicator will increase to 70%. At the same time, we learn about significant price difference for notary services depending on the region. Ukrainians should not overpay for the services of notaries - we feel very strong about it. That is why the Ministry of Justice has elaborated amendments to legislation limiting the cost of notary services, including private notaries», - said Dmytro Vorona, head of the State Registration Service of Ukraine.

According to the official, amendments to the Law envisage that rates and order of payment of notarial fee will be determined by the Cabinet of Ministers of Ukraine, while socially disadvantaged groups will receive benefits.

Head of the agency added that the State Registration Service of Ukraine prepared a draft law on providing notaries with the powers of state registration of legal entities and individual entrepreneurs.