A bill to combat fraud in apartment sales will be introduced in the State Duma.

      Lately there have been increasing reports in the media that people sell their assets, in particular apartments, and then claim they were under the influence of fraudsters. They go to court demanding that the sale be declared invalid, and courts very often side with them. As a result, buyers are left without the property and without the money.

      Meanwhile, deputies from A Just Russia have drafted a bill aimed at solving this problem. It will be submitted to the State Duma in the coming days.

      The bill proposes introducing a so-called cooling-off period when selling real estate. In addition, it provides that a seller (an individual) may register the transaction only seven days after the contract is signed. Payment under the contract will be credited to the seller’s account after registration; cash payments will no longer be possible. If the dwelling is the only one, a notarized consent from the owner of other accommodation for the seller’s continued residence will be required, ria.ru reports.