Overview of the Russian Real Estate.

1. Introduction. Both the Russian Constitution, adopted in 1993, and the Civil Code, adopted in 1994, uphold the right to own private property, which includes both land plots and buildings. Despite these guarantees, however, land reform was for a long time the subject of national political debate. Several proposed land codes worked their way through the State Duma, the lower house of Parliament, only to have the President reject them, largely because these codes infringed, rather than defended, …

…a company and/or lease to third parties. Confirmation of the absence or existence of a valid mortgage on the immovable property is therefore important. If there is a valid mortgage, the purchase can be effected only with the consent of the mortgagee. Even then, notwithstanding the provision of such consent, the mortgage will follow the immovable property until the primary obligation secured by this mortgage is performed and the property is released from it.