The arbitral decisions which transfer/acknowledge a real estate right shall be submitted to a verification procedure by the court or by the public notary.
Law no. 206/2012, published in the Official Gazette no. 762/13.11.2012, amends the provisions of art. 363 Civil Procedure Code (“CPC”), as well as of art. 603 New Civil Procedure Code (“NCPC”) as regards the incorporation of arbitral decisions within authentic deeds.
The provisions amending art. 603 NCPC entered into force on the date when NCPC has entered into force, respectively on 15.02.2013.
In case of arbitral decisions which settle litigations regarding the transfer of ownership right and/or the incorporation of other real estate right over an immovable asset, the arbitral decision shall be presented to the court in order to obtain a court decision or to the public notary in order to obtain an authentic notary deed.