The Ministry of Justice has registered the Regulation "On the Procedure for Electronic Data Exchange between Notaries and Banks for Settlements under Real Estate and Vehicle Sales Contracts."
From April 1, 2026, when certifying contracts for the purchase and sale of real estate objects, vehicles of categories M, N, O, and G, as well as special vehicles, the execution of settlements between the parties will be determined by electronic data exchange between notaries and banks.
According to the document, notaries certify contracts for the purchase and sale of real estate and vehicles on the basis of electronic information provided by banks on settlements between the parties.
Settlements under real estate and vehicle sales contracts are made in the following order:
- The buyer or their representative applies to the bank with a written or electronic application;
- funds agreed upon by the parties under the agreement are credited by the bank to the escrow account in cash or non-cash form;
- If the agreement is concluded with a deferral of payment obligations, the agreed-upon (initial) funds are credited to the corresponding escrow account;
- When the agreement is fully or partially executed on the basis of credit funds, the bank providing the loan sends electronic information about this to the notary;
- Accounts of the buyer or their representative in the bank (bank card, electronic wallet on demand) may be used as escrow accounts;
- The parties apply to a notary for the execution of the sales contract;
- The notary verifies the availability of funds in the escrow account electronically and certifies the contract.
After that, the funds are transferred to the account of the seller or his representative, or the funds transferred to the account are provided in cash at their request.
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