Fokina M.M. Procedure for residential properties title transfer, following an auction

Abstract: Auctions are widely known and popular around the world. This kind of public sale allows the participants to procure a broad variety of possessions, from art and antiquities to enterprise assets, securities and real property. In Russia, auctions are a comparatively new way of competing for the assets of one's choice. In light of the economic reforms, auctions started becoming more popular in all its variety, which includes, beside auctions themselves, tenders and contests. Goods auctions have gained importance, as they are connected to broad privatization policies. The methodological basis of this research consists of general research methods - analysis, synthesis, comparison, classification; as well as Jurisprudence-specific methods, such as analogy, interpretation, legal base survey and legal analysis. Auctions which are conducted in order to sell real property grow in popularity among the people, who, until recently, used to distrust such methods. Beside buying residential property directly from the owner, auctions offer a plethora of programs and offers. It would seem that auctions as means for property transactions have a rich potential for broader use.

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