International practice of settlements when buying real estate and its implementation in the Russian jurisdiction

Purpose: The purpose of this article is to analyze the possibilities of improving the mechanisms of functioning of settlement instruments such as documentary credit and escrow account when buying real estate (especially foreign). Methodology: In this article, the author used a comparative legal method of research of domestic and foreign legal doctrine and law enforcement practice. Results: The main conclusion of the study is that the Russian legislation does not prevent the acquisition of real estate abroad. The legislation of the world is able to limit the right to purchase property. Novelty/originality/value: The author’s contribution in terms of novelty is the conclusion that the current system of functioning of these tools does not always correspond to the current level of development of information technologies, as well as the accumulated experience in their integration into the business processes of financial institutions. The article will be of interest to practicing lawyers and a wide range of the scientific community.