The government changed the order of realization of seized property

The Prime Minister of Russia Dmitry Medvedev signed a decree amending the procedure of realization of property turned into the property of the state. Relevant document published on the website of the Cabinet.

The new procedure provides for a differentiated approach to the possible implementation of converts to the property of the state property through direct sale (if there is only one buyer), and by bidding in the open auction if there are two or more applicants for the purchase of one and the same property, it follows from the document.

This procedure will reduce the initial price of sale of property in the absence of demand on the property with two steps at 25% after a certain interval of time, noted in the explanatory note to the document.

The property turned into the property of the state, an estimated value of up to 100 thousand rubles will be implemented solely through direct sales to speed up the process.

In addition the changes include a reduction in the cost of property in case if it will not be implemented for a certain period of time.

As explained in the government, such a mechanism is because in practice, a situation where a large part of the property turned into the property of the state, receives no more than one application for the acquisition.

The new order will affect the confiscated, movable ownerless and confiscated property, as well as goods placed under the customs procedure of refusal in favor of the state when transferred across the customs border of the Eurasian economic Union or admitted to the property of the state in the order of succession.