The Need for Minimization of Risks in Transactions with Residential Premises to Protect Private and Public Interests

The article determines that at present there are high risks of identifying defects in the title or encumbrances of residential premises some time after its acquisition. The reasons for the situation that have arisen are analyzed, including the instability of the content of the concept of “real estate” in domestic legislation. The evolution of this concept is studied and the prospects for its development are outlined. The first reason also leads to the second, which is related to the imperfection of the system for registering rights to real estate. It was determined that it is not in the public interest to shift all the risks arising from a bona fide purchaser of real estate to the treasury. It is concluded that such methods of minimizing risks as notarization of transactions with residential premises and title insurance are more consistent with both public and private interests.