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Constitutional Court sets out new standard for purchase of real estate in Georgia


In its recent decision in Nodar Dvali v the Parliament of Georgia, the Constitutional Court considered issues raised in the decision of a lower court in which the legal presumption of accuracy and completeness of entries in the Public Register in relation ...


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Comment The decision may have a significant, adverse impact on the real estate market in Georgia and will be relevant to any real estate transaction, including taking mortgage security. From a seller's perspective, even if the seller holds good title, frivolous or baseless challenges filed against the seller's title could result in serious delay in the transfer of the property. Purchasers of real estate will no longer be able to rely on an extract from the Public Register alone to determine the legal title of the transferorIn order to purchase with good title, purchasers will need to satisfy the knowledge test as to the absence of challenges to the transferor's titleIn its decision, the Constitutional Court did not set the standard of the test and existing court decisions have set very different standards for a purchaser to satisfyIn one case, a purchaser would satisfy the test if it had no passive knowledge of a challenge, while in another a purchaser would satisfy it only if it had made thorough inquiries. Prudent purchasers will therefore need to conduct further investigation as to whether there is any dispute relating to a property, whether filed in the Public Register or the courtsA major hindrance will be the availability of relevant information in that, according to recent court practice, information on disputes involving individuals is not disclosed on the grounds of data protection. Clear judicial guidance is now required to ensure that the Georgian real estate market is not unduly fettered. This article was first published by the International Law Office, a premium online legal update service for major companies and law firms worldwide. Register for a free subscription. For further information on this topic please contact Benjamin Paine or Mary Kopaleishvili at Paine Stevens by telephone (+995 32 290 3211) or email (benjamin.paine@painestevens.com or mkopaleishvili@painestevens.com)The Paine Stevens website can be accessed at www.painestevens.com. Paine Stevens LLC - Benjamin Paine, Mary Kopaleishvili Back Forward View original Forward Print Save ShareFacebookTwitterGoogle PlusLinked In Follow Please login to follow content. Like var lex_script_article_filtersave = true; Filed under Georgia Litigation Real Estate Paine Stevens LLC If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries@lexology.com. Send to Prospector Related topic hubs Litigation Real Estate if (document.addEventListener) { document.addEventListener("DOMContentLoaded", function () { document.removeEventListener("DOMContentLoaded", arguments.callee, false); domReady(); }, false); // If IE event model is used } else if (document.attachEvent) { // ensure firing before onload document.attachEvent("onreadystatechange", function () { if (document.readyState === "complete") { document.detachEvent("onreadystatechange", arguments.callee); domReady(); } }); } function domReady() { var token = $('input[name="__RequestVerificationToken"]').val(); var $mlt = $('#mlt-launcher'); var headers = {}; headers['__RequestVerificationToken'] = token; $.ajax({ url: '/FeatureModules/MoreArticlesLikeThis/Widgets?articleguid=' + $mlt.data('id') + '&jurisdictionref=' + $mlt.data('jref') + '&numofresults=' + $mlt.data('top'), headers: headers, success: function (data, textStatus, xhr) { $('#mlt-launcher-loader').remove(); $mlt.html(data); $mlt.slideDown('slow'); } }); } Lexology Navigator Q&A Compare jurisdictions: Real Estate Peru Canada Germany More... Bob Lindsay Privacy Manager HP Enterprise Services What our clients say “I find the Lexology newsfeeds very informative as they provide concise and to-the-point contentThanks for providing a very good service.” Back to Top RSS feeds Contact Submissions About Testimonials Cookies Disclaimer Privacy policy Login Register Follow on Twitter Search

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