Along with the restoration of the independent Republic of Lithuania, a comprehensive land reform involving privatisation and denationalisation of land and other real property was undertaken in order to restructure the legal, social and economic relations in the field of land ownership and land use. The principal objective of the reform was to create a free real estate market.
The historical situation and the complicated development of public circulation of real estate have caused a number of problems typical of a transition period. By amendment of several laws and adoption of the new Civil Code and the Code of Civil Procedure, existing deficiencies of legal regulation were eliminated to a large extent to complete the creation of a comprehensive legal system that were required for the sound functioning of the real estate market.
This publication provides a survey on effective legal regulation of the real estate issues, while also placing special focus on the Real Property Registration and Mortgage systems.
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