Escrow agent services
Updated regulation in the sphere of shared-equity construction of real estate Pepeliaev Group law firm advises that a number of amendments to Federal Law No. 214-FZ dated 30 December 2004 (“Law No. 214-FZ”) have come into effect regarding participation in the shared-equity construction of apartment buildings and other real estate, as have amendments to other regulatory acts.
Criteria have been approved that, when met, allow funds of the participants in shared-equity construction to be raised without escrow accounts being used Law firm Pepeliaev Group advises that on 1 May 2019, the Russian Government’s Resolution No. 480 dated 22 April 2019 comes into effect. Resolution No. 480 establishes criteria which, when met, allow a developer to raise funds from the participants in shared-equity construction without escrow accounts being used.
Escrow: new developments in the area of escrow of paperless securities Law Firm Pepeliaev Group advises that rules for escrow of paperless securities have been clarified.