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LAW OF THE REPUBLIC OF ARMENIA

of June 7, 2022 No. ZR-136

About modification and amendments in the Civil code of the Republic of Armenia

Accepted by National Assembly of the Republic of Armenia on May 25, 2022

Article 1. In Item 1 of Article 170, heading and the text of Article 570. Parts 1, of 3, of the 6 and 7 Article 928.6 of the Civil code of the Republic of Armenia of May 5, 1998 (further – the Code) the word "buildings" before words of "purchase of the real estate" to exclude 1,.

Article 2. In article 224 of the Code:

Part 4 to state 1) in the following edition:

"4. In case of changes of the sizes of apartments or non-residential premises owing to insignificant construction variations in the course of works on construction of the apartment or subdivided building the sizes of shares of owners of apartments or non-residential premises concerning property of common ownership of the building do not change.";

2) part 7 to recognize invalid;

3) from part 8 the first offer to exclude.

Article 3. Add the code with Article 224.1 of the following content:

"Article 224.1. The right to purchase of the real estate or the apartment house in the under construction apartment or subdivided building

1. After state registration of the right of the builder to the real estate or the apartment house in the apartment or subdivided building according to the procedure established by the law on state registration of the rights to property, the real estate or the apartment house in apartment or the subdivided building can be encumbered with the right to acquisition of the real estate under construction.

2. The agreement on the right to purchase of the real estate or the apartment house in the under construction apartment or subdivided building is subject to notarial assurance, and the right to purchase following from it – state registration.

3. The right to purchase of the real estate or the apartment house in the under construction apartment or subdivided building extends also to the corresponding equity part of the parcel of land and rooms public.

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