From November the 1st in Ukraine it will become impossible to make the contract of Gift and entering into inheritance

According To The Decree Of The Cabinet Of Ministers Of Ukraine № 231, from 01 November 2016, the appraisers no longer have the right to determine the assessed value of movable and immovable property. This means that from 01 November in Ukraine there will not be any appraisers who have the right to conduct an assessment for cases with an agreement of movable or immovable property or entering into the legacy of this property.

It should be noted that, according to the procedure of notarial acts №296/5, approved by the Ministry of Justice of Ukraine, notaries are prohibited to assure the contracts of Gift and entering into the legacy in the absence of a document on the evaluation of estate. Since there is no one to conduct such evaluation, it becomes impossible to implement these two types of contracts.

Thus, if before the 1st of November there will not be provided the amendments into the legislation, regulating activity of subjects of property valuation, no person in the territory of Ukraine since 01 November 2016, in fact, will not be able to enter the legacy or make a Gift contract.

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