We find it appropriate to share the following important information:
In the course of recent professional projects, we have become aware of widespread cases of illegal property seizures and numerous violations committed against the legal owners of the real estate. These incidents involve land plots and other immovables owned by the individuals and companies, carried out without the knowledge of the rightful owners.
The essence of this unlawful scheme lies in the use of the pre-forged notarial documents. The fraudsters, without the owners’ awareness, re-register ownership rights to land plots and other real estate. The property is then transferred to the third parties or sold to so-called “bona fide purchasers,” making it increasingly challenging to reclaim. Its recovery becomes particularly complicated if the loss is not promptly identified and timely legal action is not initiated to secure and return the property. Reliable sources confirm that such situations are far from isolated.
In light of this, we strongly recommend you to regularly monitor registries and conduct periodic checks of relevant information databases. This should be done in accordance with the specifics of your activities and the real estate you own. We believe that, given the current economic circumstances, such measures, while time-consuming, can prove invaluable in the context of preventing from property loss and significant financial damage.
We hope this information will be useful to you. Please do not hesitate to reach out to us, should you have any questions or require additional details or assistance on our part.
Author: Dmytro Dovzhyk, Attorney-at-Law and Partner at ArtesLex
25.09.2024
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