KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER RUSSIAN LAW -

I. Types of real estate -

• land plots;

• buildings, facilities, and other objects closely connected with land (i.e. objects that cannot be removed without detriment to their designation);

• constructions or developments under construction;

• objects qualified as real estate by operation of law (registrable aircraft, ships, inland-waterways vessels);

• residential and non-residential premises;

• car parking space.

Land plots and buildings and constructions constitute two separate types of real estate objects, according to Russian law. In practice, this means that a land plot and a building located on it represent two separate real estate items and can be owned by different parties and even on different titles (for example, right of ownership to the building and right of lease to the underlying land plot owned by another party). State registration of title to buildings, constructions on the one hand and underlying land plots on the other hand, is carried out separately, as well. However, there is a principle of “unanimous destiny of land plot and objects closely connected to it” commonly known in Russian law according to which the building inseparably follows the underlying land plot (see for more details section VII).