329 views

Additions to the Code of Civil Procedure in matters of arbitration

The Official Gazette of Romania, Part I, no. 762 of the 13th of November 2012 has published Law no. 206/2012 that approves the Government Ordinance no. 44/2012 on the amendment of art. 81 of Law no. 76/2012 for the implementation of Law no. 134/2010 regarding the Code of Civil Procedure and the completion of related laws.

The law approves the GEO nr.44/2012 on the amendment of of art. 81 of Law no. 76/2012 for the implementation of Law no.134/2010 regarding the Code of Civil Procedure (which postponed the implementation of the new Code of Civil Procedure until February 1,2013)  brining a completion to the current and the new Civil Procedure Code, on the arbitration decision on disputes related to the transfer of ownership or another real right of a property.

Both the current Civil Procedure Code and Law no. 134/2010 on the Code of Civil Procedure introduce the following provision:

“If the arbitration award refferes to a dispute regarding the transfer of ownership and/or the establishment of another real right on immovable property, the arbitration award will be presented to the court or a public notary in order to obtain a court order or , an authenticated decision.  After verification, done by the court of the public notary, of the conditions and completion of the procedures required by law and by the parties after paying the tax on the property, they shall proceed to registration in the Land Registry and transfer of the property and/or establishment of another real right in the property in question will occur.”

>> The source: JURIDICE.ro

Diana STOICA

Related posts