The platform will allow notaries to send requests to the Central Depository in order to receive information about the shares of securities and pension funds of the testator, as well as exchange data contained in the certificate of inheritance right.

This arrangement was approved by the Minister of Justice on 5 September 2023.

The CDA manages a unified system of securities accounting and settlement, which also includes the maintenance of the register of pension fund participants.

Since securities and pension fund shares are the property of citizens, notaries often turn to the CDA to process inheritance transactions. Previously, this process was paper-based and time-consuming and resource-consuming.

The new electronic platform will significantly improve this process by allowing notaries and the CDA to exchange data online. This exchange speeds up the process of providing information, keeps data secure and simple, and reduces the time it takes to file certificates of inheritance and transfer property.

The new platform also allows for the transfer of certificates of title online, significantly reducing the time-consuming and often complex process, ensuring that heirs receive their assets quickly and safely.

‘One of our goals is to improve the efficiency of information sharing with our partners by utilising modern electronic and digital solutions that will not only streamline processes but also provide a faster, more accurate and more convenient service,’ said CDA CEO Ani Makarian.

This initiative is the first step towards the introduction of modern, technologically secure and fast inheritance processes in Armenia, contributing to the protection and safeguarding of citizens' property rights.’ -0-