Real estate under protection, land under supervision: how seized property transferred to the National Agency of Ukraine for the Detection, Recovery and Management of Assets will be preserved
As reported by Sudovo-Yurydychna Hazeta, the Cabinet of Ministers approved the procedure for the storage of assets transferred to the management of the National Agency of Ukraine for the Detection, Recovery, and Management of Assets, effectively establishing a unified model for handling seized property.
The procedure defines the mechanism for storing assets transferred to the National Agency of Ukraine for the Detection, Recovery, and Management of Assets to preserve their characteristics and prevent risks of damage, loss, or illegal encroachments. This applies to both immovable and movable property — from residential and commercial real estate to vehicles and land plots — which are transferred to the agency by court decision for safekeeping or further disposition.
In addition, this procedure does not apply to monetary funds — both cash and non-cash in any currency — which are subject to seizure, as the National Agency of Ukraine for the Detection, Recovery, and Management of Assets manages such funds separately in accordance with the law.
How property will be preserved
According to the procedure, the National Agency of Ukraine for the Detection, Recovery, and Management of Assets will conclude agreements with custodians and specialized organizations through public procurement procedures.
For immovable property transferred to the National Agency of Ukraine for the Detection, Recovery, and Management of Assets, preservation will be ensured through protection measures. This applies to buildings, structures, and other facilities that require safeguarding against damage, unlawful access, or illegal actions. Specialized organizations will be engaged to ensure the preservation and proper physical condition of the property.
The procedure separately regulates the storage of land plots. If they are not part of other assets, they are not transferred to custodians but are monitored through regular inspections. Such inspections are conducted by officials of the territorial offices of the National Agency of Ukraine for the Detection, Recovery, and Management of Assets at least once a month under the agency’s instructions.
In case of identified threats or violations, law enforcement agencies may be involved in inspections. Inspections are not conducted in areas where hostilities are ongoing or have occurred, as well as in temporarily occupied territories.
Custodians and specialized organizations are obliged to:
- prevent damage, deterioration, or loss of the asset before it is transferred to the manager or disposed of;
- ensure the security of the property;
- maintain its proper technical condition (including adherence to special storage conditions if specified in the agreement);
- insure the asset if necessary.
Custodians are prohibited from transferring the asset to third parties or storing it under conditions that may lead to damage or destruction.
The procedure also specifies that custodians may not be:
- citizens of Russia, Belarus, or Iran (except those legally residing in Ukraine);
- companies registered in these countries;
- Ukrainian companies whose beneficiaries are connected with these states (ownership share of 10% or more);
- individuals or legal entities subject to sanctions;
- companies whose beneficiaries are under sanctions.
The agreement may terminate upon transfer of the property to the manager, its disposition, or cancellation of the seizure. The agreement also becomes invalid in case of a court decision on the recovery of the asset for the state or cancellation of its transfer to the National Agency of Ukraine for the Detection, Recovery, and Management of Assets.
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