Notarial Transaction

a transaction requiring a notarial form. Under present Soviet law such transactions include contracts to buy and sell, exchange, or present as a gift a house in a city or urban-type settlement; contracts to mortgage a house; wills; and contracts to present gifts worth more than 500 rubles. At the request of the parties, notarial offices may also witness any other transaction that does not conflict with the law, for which notarial witnessing is not obligatory. The notarial form gives a contract validity, clarifies the relations between the parties, and, where necessary, serves as proof in court that a transaction was effected.