According to Mironov, the mechanism would freeze the buyer’s funds in a special account for two days after the official registration of the transfer of ownership. During this time, the seller would have the right to cancel the transaction if they can prove they were pressured into selling. At the same time, banks, Rosreestr, and law-enforcement agencies would be able to investigate any reports or red flags related to potential fraud. Mironov stressed that this measure is necessary to protect citizens from scammers. He noted that buyers often end up being the ones “left holding the bag” in court disputes. He added that while elderly homeowners are certainly in need of protection—since many are tricked into selling their apartments—the state cannot help some citizens by violating the rights of others. The proposed mechanism, he believes, will bring the real estate market back into a civilized, transparent framework. Just recently, the Supreme Court in Yakutia sided with a good-faith buyer and denied pensioner Irina Kirillina’s request to reclaim her apartment, which she claims she sold under pressure from fraudsters.

The Deal Can Be Canceled: Russia’s State Duma Proposes a New Mechanism to Protect Homebuyers From Real Estate Fraud