The Kingdom hastened to activate the in-kind registration system for real estate issued in 09/19/1443 AH corresponding to 04/20/2022 AD, which consists of 40 articles, and one of the most prominent features of this system is that real estate acquires absolute authenticity after a year has passed from the date of publication of the owners’ lists in the real estate registry Comprehensive, and after registering the property, it must include lease contracts and obligations related to the property if their period is 10 years or more.
It is mentioned that real estate registration will be available free of charge through the electronic real estate registry platform or through service centers in the city of Riyadh. This is the basis for registering ownership and real estate rights resulting from it, and as for the advantages of this system, it will enable the beneficiary to know the history of the property, and through it he will be able to know all financial disputes from the obligations and rights arising from this property, and it will also contribute to increasing confidence when buying and selling among real estate dealers Local or foreign investors, without fear of a future lawsuit being filed against him by another owner of the same deed, or that the deed is inconsistent or forged, and other issues related to wrongly registering the property, and this protects the real estate owner from malicious claims; As for violations of this law, Article 35 of this law states that, without prejudice to any harsher penalty stipulated in any other law, a fine not exceeding 100,000 riyals shall be imposed on each of the following:
1- Refrain from disclosing any documents or data necessary for the validity and integrity of the first in-kind registration procedures.
2- Anyone who obstructs the work of the competent authority related to the in-kind registration procedures.
3- Anyone who fails to report referred to in Article (34) of this Law.
4- Anyone who fails to submit the application referred to in Paragraph (1) of Article (31) of the Law within the period specified in the same paragraph.
5- Whoever fails to submit the first in-kind registration application for his real estate within the period specified for submitting the applications referred to in Paragraph (1) of Article (Seven) of this Law.
Legal Adviser Abdullah bin Maeed Al-Maliki