of August 14, 2003 No. 198
About realtor activities in the Kyrgyz Republic
Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on June 27, 2003
This Law governs the relations arising in connection with implementation by legal entities and individual entrepreneurs of realtor activities and is aimed at providing single state policy in the field of regulation of these activities.
This Law does not extend:
- on officials of the executive bodies participating in property sale according to the legislation on privatization and other regulations;
- on persons organizing property sale according to decisions of the courts or executive bodies including legal executives, administrators, conservatives, external managing directors, special administrators (liquidators) according to the legislation on bankruptcy;
- on persons who as owners, owners or lessors of the real estate make any actions concerning the real estate.
In this Law the following concepts are applied:
realtor activities - the professional activity performed on permanent basis on rendering for other persons for remuneration of the services provided by this Law when making transactions with real estate objects and the rights to them according to the legislation of the Kyrgyz Republic;
the realtor - physical (individual entrepreneur) or the legal entity (real estate firm), performing realtor activities;
professional participants of the real estate market - the legal entities, individual entrepreneurs performing activities according to this Law and appraisers;
the owner - physical person or legal entity, being the owner or the user of real estate according to the legislation of the Kyrgyz Republic;
real estate - the parcels of land, subsoil plots, the isolated water objects and all objects firmly connected with the earth that is objects which movement without disproportionate damage to their appointment is impossible, including the woods, long-term plantings, buildings, constructions and others;
consumers of realtor services - the physical persons and legal entities which signed with the realtor the agreement on rendering realtor services;
the real estate market - set of real estate units, including the parcels of land, and also civil transactions and other real estate transactions and the rights to them performed by owners of real estate objects and professional participants of the real estate market;
self-regulatory organizations of realtors - the non-profit organizations, voluntary associations of realtors operating according to the legislation and this Law;
the agent - the employee of real estate firm who underwent training and certification, directly working with the consumer of realtor services and carrying out all preparatory work for the conclusion of the agreement on rendering realtor services;
the principal - the consumer of realtor services;
the consignor - the agreement party;
the partner - the contracting party of the agreement.
The legislation of the Kyrgyz Republic regulating realtor activities consists of the Constitution of the Kyrgyz Republic, this Law and other regulatory legal acts which are regulating realtor activities, and also came in the procedure established by the law into force of international treaties which participant is the Kyrgyz Republic.
In the field of realtor activities treat powers of the Government of the Kyrgyz Republic:
- carrying out single state policy on development of realtor activities;
- ensuring interaction of public authorities with realtors and their associations.
Participants of realtor activities legal entities and individual entrepreneurs whose activities are regulated by this Law (real estate firms, realtors), and also consumers of their services are recognized.
Voided according to the Law of the Kyrgyz Republic of 20.05.2016 No. 69
1. The self-regulatory organization of realtors is the non-profit organization, voluntary consolidation of realtors and professional participants of the real estate market operating according to this Law and other legal acts of the Kyrgyz Republic.
2. The self-regulatory organization of realtors is established by realtors and other professional participants of the real estate market for protection of professional interests, increase in professional level and the quality rendered by realtors of services, and also rendering development assistance of the real estate market to state bodies and to realtor activities.
Self-regulatory organizations of realtors have the right:
- participate in development of the regulatory legal acts regulating realtor activities in the Kyrgyz Republic;
- submit for consideration of state bodies and local self-government of the offer on development of realtor activities;
- according to qualification requirements to develop training programs and plans, to perform training of officials and personnel of real estate firms;
- perform protection of the members and consumers of realtor services;
- perform other types of activity which are not prohibited by the legislation of the Kyrgyz Republic.
According to requirements of this Law are among types of realtor activities (types of the services rendered by realtors):
- activities as the agent;
- activities of the realtor as the broker;
- activities of the realtor as the intermediary;
- activities of the realtor for the organization of trade in real estate;
- activities of the realtor for trust management of real estate in the part determined in article 15 of this Law;
- activities of the realtor for provision of information and consulting services, services in studying of market situation, other paid services accompanying civil circulation of real estate.
Agent activities are performed by it based on the agreement signed between the realtor and the consumer of realtor services on rendering realtor services.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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The document ceased to be valid since March 28, 2023 according to article 36 of the Law of the Kyrgyz Republic of March 23, 2023 No. 64