Russian President Dmitry Medvedev has introduced amendments to the Civil Code. Experts say that they affect the modernization of economy, society, property turnover, business security, protection of interests, development and use of new technologies.
Arkady Bryzgalin, head of the Taxes and Financial Law Group, PhD in Law, told Vestnik Kavkaza that the amendments require subjects of the law to act scrupulously, reasonably, without violating interests of others. The bill simplifies procedures for legal bodies.
With introduction of article 4 of the Civil Code of Russia in December 1994, legal bodies with additional property were uncommon.
The bill set the rights of corporations, allows third parties to be included in corporative deals.
The document introduces a principle of linking land and property. Bryzgulin says that the principle is essential to avoid occurring problems when the land and its real estate belong to different owners.
Another innovation is the ban for unreasonable appeal of deals, introduction of the institute for house ownership protection to simplify legal protection against discretionary powers to obtain property.
