The Ministry of Finance of the Russian Federation has prepared amendments to the Civil Code, which will make it possible to sell real estate confiscated and turned into state ownership by a court decision, as well as property recognized as escheat.
The bill does not contain criteria for determining the degree of luxury of housing. Earlier, the Ministry of Justice proposed to consider the cost of living space as a luxury more than 30 million rubles. or an area of more than 50 sq. m. per family member, but this initiative did not find support in the Ministry of Economic Development.
Draft Laws "On Amendments to the Law" On the Privatization of the Housing Stock ", to the Law" On the Privatization of State and Municipal Property "and" On Amendments to Art. 1151 part 3 of the Civil Code "were developed in pursuance of the President's order to improve the mechanism for the disposal (sale) of confiscated and other real estate subject to state ownership, which is a housing stock.
“The adoption of the bills will create the preconditions for increasing the revenues of both the federal budget and the budget of the Pension Fund at the expense of the proceeds from the sale of luxury residential premises, as well as an increase in the revenues of the corresponding budgets of the budgetary system of the Russian Federation,” the press service of the Ministry of Finance explained.
The estimated date for submitting bills to the State Duma of the Russian Federation is the end of 2021.
