Amendments initiated to modernize the real estate registration process
The Fatwa and Legislation Department has finalized the drafting of necessary amendments to Decree No. 1959/5) concerning real estate registration and its subsequent modifications.
Informed sources told Al-Qabas daily that the updated amendments to the decades-old law, which dates back more than 65 years, aim to modernize the real estate registration process in alignment with economic and technological advancements.
These changes are designed to streamline transaction procedures and enhance efficiency in real estate registration and sales processes.
Among the key revisions is the provision allowing commercial companies with non-Kuwaiti partners to own real estate. However, in the event of the company’s liquidation, dissolution, or termination for any reason, non-Kuwaiti partners are required to dispose of the real estate within one year from the date of dissolution, liquidation, or termination. Failure to comply will result in the forced sale of the real estate.
Additionally, amendments have been made to abolish Articles 22 to 28 pertaining to “registration books,” as electronic records render the traditional registration books obsolete.
These amendments reflect a proactive approach to modernizing real estate regulations, facilitating transactions, and adapting to contemporary economic and technological landscapes.
Fee refund review
The amendments also included a review of Article 58 of Chapter Eleven regarding fees, similar to Authentication Law No. 10/2020 and its executive regulations and Article No. 60, which states: “The invalidation, revocation, cancellation, or revocation of documents — whatever their type — shall not result in the return of anything obtained from the decree.
An exception to this is the fees paid for registering a plot in government housing areas if the government decides to withdraw this voucher, provided that its withdrawal is not due to the person in whose name it was registered violating one of the conditions set by the government for ownership.”
The required amendment is to review what was stated in the article regarding refunding fees, as it was limited to only two cases.
