KSA: Notarized Title Deeds under Duly Approved Plans Can't Be Revoked
- Publish date: Tuesday، 24 January 2023
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Notarized title deed affixed to a duly approved plan cannot be suspended or revoked, said Saudi Arabia’s Justice Minister Walid Al-Samaani during his participation at the Real Estate future forum on Monday.
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The minister added that many real estate services are provided electronically, including trading, conveyance, and liens.
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“Several regulations have recently been issued relating to the real estate sector, whether directly or indirectly,” the minister said. “These include the Notarization Law, which regulates property notarization procedures and clarifies the authenticity of issued documents.”
“The only exception is the procedures for expropriation for public interest, where compensation is provided for according to the law,” he said.
The past year witnessed more than 55,000 real estate e-transactions, accounting for 30% of the total traded real estate in the Kingdom.