With the rapid development of housing construction at the request of society for the efficient allocation of financial resources and investment in real estate, there is a need to resolve relations that go beyond the current legal regulation in this area. To this end, the Draft Law on Guaranteeing Real Rights to Real Estate Objects to be Constructed in the Future № 5091 of 17.02.2021 has been developed, which proposes, inter alia, to determine the conditions under which future real estate objects may be civil objects rights, peculiarities of transactions with such objects, as well as to introduce a mechanism of state registration of special property rights to future real estate and automatic conversion of such property rights at the time of acceptance of the completed facility into operation. However, this Project contains a contradictory provision, in particular regarding the fulfillment by the seller of the obligation under the contract of sale and purchase of the future real estate object to ensure the transfer of ownership to the buyer of the real estateobject. At the same time, the lawmaker does not equate such a transfer with the transfer of property in kind. This provision is a conflict in view of the mechanism proposed by the Project for the acquisition of ownership of real estate by a subject of special property law.

 Considering that according to the Project such right certifies the possibility of its subject to acquire the right of ownership of the real estate object at the moment of acceptance of the completed object into operation, and that under the contract of sale and purchase of the future real estate object special property the right, as a general rule, passes from the seller to the buyer, it is the buyer, not the seller, acquires ownership of the property at the time of acceptance of the completed construction into operation, which, accordingly, makes it impossible for the seller to fulfill its duty to ensure the transfer of ownership of the real estate object to the buyer under the contract of sale and purchase of the future real estate object.

The purpose of this article is to analyze the contradictory provisions of the Project in terms of fulfillment by the seller of the obligation under the contract of sale and purchase of future real estate to ensure the transfer of ownership to the buyer of real estate, to highlight issues in this matter, to determine the optimal mechanism on real estate objects and prevention of impossibility of application of norms of the Law on Guaranteeing Real Rights to Real Estate Objects to be Constructed in the Future, in case of its acceptance.

The conclusions propose to determine the object of civil rights is not the future object of real estate, but a special property right to an object of immovable property that will belong to the subject of ownership. Under such modifications, ownership rights to special property rights will be subject to mandatory state registration, which will be transformed into property rights to real estate objects upon acceptance of the completed object.            

Bibliography

Edited books 1. Rechove pravo: pidruchnyk (Maidanyk R red, Alerta 2019) (in Ukrainian).

2. Tsyvilnyi kodeks Ukrainy: Naukovo-praktychnyi komentar: poiasnennia, tlumachennia, rekomendatsii z vykorystanniam pozytsii vyshchykh sudovykh instantsii, Ministerstva yustytsii, naukovtsiv, fakhivtsiv, t 8: Dohovory pro peredachu maina u vlasnist ta korystuvannia (Spasybo-Fatieieva I red, Straid 2013) (in Ukrainian).