The Treasury to Be Replenished at the Expense of Apartments of Belarusians?

It is better to have a security at real estate transactions.

It happened. Both legally and socially sound event happened in Belarus: the court of the Pershamaiski district decided to confiscate $95 thousand raised on purchase of the apartment of 33 year-old Minsk dweller. Purchase for dollars not Belarusian rubles caused the decision.

Charter97.org asked former investigator of the Prosecutor's Office, head of the HRC Legal Assistance to the Population Aleh Volchek for comments.

- It is not new that almost all major transactions between individuals are made for dollars in Belarus. What will happen to them now? How should we now buy and sell apartments, cars and so on?

- This is certainly a loud precedent. It sounds like a nonsense for Belarusians who got used to transactions in foreign currency. A person did as everyone and lost everything. This is the first time in my practice.

Indeed, from the legal point of view, we have a ruble in our country - the only means of payment and transactions in foreign currency are banned. Formally, it is true: absolutely all transactions for sale of apartments, cars can be considered illegal in Belarus.

It is hard to judge comprehensively about this precedent not knowing intricacies of the matter. But it fits into a general trend of "dedollarization" conducted by the authorities in the country. The hidden message here can be as follows: People should, if they want to buy an apartment, hand over dollars to the bank, and then pay with Belarusian rubles. This will ensure the inflow of dollars into a bank and into the state "storehouse". It is clear that then the seller of an apartment may have problems with the purchase of such a large amount of dollars. In addition, he will significantly lose on the difference in the purchase price.

This case is alarming for other owners of apartments, cars and other large property that they want to sell. This precedent can now be used by competitors, unscrupulous real estate brokers, and simply ill-wishers.

The trend is very worrying. We heard about the recognition of transactions as invalid, the cancellation of sales contracts, but the confiscation of the entire amount happens for the first time.

- What is your advice which could save people from such a situation?

- First, I would like to receive information about those who dealt with this transaction and analyze it. Second, we should be really cautious. It is clear that no one wants to sell apartments for rubles: the exchange rate is unstable, serious losses in money are inevitable.

Therefore, the recipe is as follows: watchfulness and diligence. Not to talk much, to have business only with familiar and reliable real estate agents, and to have the security with you, after all. Although, of course, no one can guarantee that a "buyer" is not a fake and the revenue from the transaction, as in the precedent described, will be "turned in favor of the state."