of March 23, 2023 No. 64
About realtor activities in the Kyrgyz Republic
Accepted by Jogorku Kenesh of the Kyrgyz Republic on February 9, 2023
The purpose of this Law is ensuring single state policy in the field of regulation of realtor activities, protection of the rights and interests of subjects of realtor activities and consumers of realtor services when making real estate transactions.
1. This Law extends to realtor activities in the territory of the Kyrgyz Republic and is aimed at providing single state policy in the field of regulation of realtor activities.
2. This Law does not extend:
- on the activities directed to property sale according to the legislation on privatization and other regulatory legal acts;
- on the activities directed to property sale according to decisions of the courts or executive bodies;
- on activities for ensuring process of bankruptcy according to the legislation on bankruptcy and legal executives;
- on owners or lessors of the real estate who as owners make any actions concerning the real estate.
In this Law the following concepts are applied:
1) the agent - the employee of real estate firm who underwent training and certification according to the procedure, determined by the Cabinet of Ministers of the Kyrgyz Republic, directly working with the consumer of realtor services and carrying out preparatory work for the conclusion of the contract for rendering realtor services;
2) agency activities - business activity of physical person on accomplishment of the functions delegated to it by the broker of the independent subject of the real estate market for implementation of auxiliary actions for transactions and transactions in the real estate market connected with transition of the rights to real estate;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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