Media & Resources
The first transaction under a machine-readable power of attorney is registered
DATE: October 11, 2023 | AUTHOR: AT
At the middle of September of this year, the Department of the Federal Service for State Registration, Cadastral Records and Cartography of Moscow had registered the first sales and purchase agreement of real estate under a machine-readable power of attorney.
A machine-readable power of attorney is an electronic document in .xml format, certified by a qualified electronic signature (CES) of the head of a legal entity or an individual entrepreneur.
The advantage of using a machine-readable power of attorney is that it does not need to be certified. In addition, the form of a machine-readable power of attorney is unified, which, according to the Federal Tax Authorities opinion, will reduce the risk of making mistakes and challenging the transaction, because the representative’s powers are indicated in the form of code, which allows their verification to be automated by requesting data from the distributed registry.
Special service has been created by the Federal Tax Authorities to create a machine-readable power of attorney, as well as verify the powers and validity of the power of attorney.
