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Economy 04/12/2010 Senate of Uzbekistan approve law “On realtor activity”
Senate of Uzbekistan approve law “On realtor activity”
Tashkent, Uzbekistan (UzDaily.com) -- Senators of Uzbekistan approve a law “On realtor activity” and law “On introduction of amendments to appendix No.1 to the resolution of Oliy Majlis of Uzbekistan from 12 May 2001 “On list of types of activities, implementation of which requires license”.

The main aim of these laws is to create system of legal regulation of realtor activity in Uzbekistan, ensuring balance of interest in real estate market participants and the state, directed at stage-by-stage development, as well as favourable conditions for carrying out professional realtor activity.

The law “On realtor activity” gives concept of realtor activity, realtor organization and realtors, their legal positions, sets main terms for carrying out realtor activity.

The laws are directed at setting mandatory licensing realtor activity and qualification requirements to realtors, improving quality of realtor services, introduction of insurance of civil responsibility of realtors, ensuring protection of rights and interests of real estate consumers.

The laws will expand legislation, regulating real estate market, ensure protection of rights of realtor service consumers, create mechanism on control over obligation of realtors, ensure sustainable development of primary and secondary real estate, optimize interaction of market participants.

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