Uzbekistan tightens control over property and vehicle transaction settlements

According to the Ministry of Justice, the regulation on electronic data exchange between notaries and banks has been officially registered and will come into force on April 1, 2026.

Under the new rules, notaries will confirm that payments between parties have been completed through electronic data exchange with banks before certifying sale and purchase agreements.

The procedure will apply to transactions involving real estate as well as vehicles that are no more than 10 years old and fall under categories M, N, O, and G, including special-purpose vehicles.

Notaries will rely on electronic information provided by banks to verify that payment obligations under a contract have been fulfilled before completing notarial certification.

The regulation introduces a structured process for financial settlements between buyers and sellers:

• The buyer or their representative submits a written or electronic application to a bank;
• The agreed amount under the contract is deposited into an escrow account in cash or cashless form;
• If the contract предусматривает deferred payment obligations, an initial agreed amount is placed into the escrow account;
• If the transaction is financed fully or partially through a loan, the lending bank sends electronic confirmation to the notary;
• The buyer’s bank accounts, including cards or electronic wallets, may be used as escrow accounts;
• Both parties apply to a notary to formalize the contract;
• The notary verifies the availability of funds in the escrow account electronically and certifies the agreement.

After the contract is certified, the funds are transferred to the seller’s account or to their representative. Upon request, the transferred funds may also be withdrawn in cash.