Jamal Yaqout: Real estate registration according to the amendments to the new real estate registration law will take place within 30 days
Dr. Gamal Yaqout, head of the Real Estate Registration Authority, expressed his thanks and appreciation to President Abdel Fattah Al-Sisi for his interference in the legalization of the real estate registration law and the intervention tax, because when Article 35 bis was amended, he directed the work of an integrated bill that fits the new period.
Yaqout added, during a telephone interview with the media, Basma Wahba, presenter of the “90 Minutes” program, on the “Al-Mehwar” channel, that the goal of the new amendment is to facilitate the procedures for registering and transferring ownership, as tax payment was separated from registration: “It is possible to register without paying a tax, because it is He will not be required to register, and whoever pays the tax will not be obligated to register.
The head of the Real Estate Publication Authority added that the amendment will allow the possibility of registration despite the existence of a sequence of registered ownership.
Jamal Yaqout pointed out that the amendment provides for the establishment of a new mechanism in the method of ownership without ownership documents: “In the sense that whoever acquired a property or unit without documents except for stable possession without dispute for a period of 15 years, it will be considered ownership, and one of the manifestations of this stable ownership is electricity receipts.”
He explained, that the registration steps included simplifying the procedures for transferring ownership by canceling the accepted stage in the real estate month, as the registration stipulated that there were two stages, the accepted and the project, and therefore there was only the project stage below the accepted, and a time limit was set for the procedures in front of the real estate month that does not exceed 30 days.