Legal support of real estate transactions
A real estate transaction is the transfer of the right to an object from one person to another. We are talking here, as a rule, about the purchase and sale, donation and leasing of an immovable object. As such, land plots, apartments, private houses, commercial infrastructure buildings can act. At the same time, the subjects of law on both sides can be both a person and a legal entity.
Of course, any real estate transaction can take place without the participation of an appropriate specialist. However, the presence of a number of serious risks and other reasons encourage citizens and companies to contact a real estate lawyer.
What can a real estate lawyer help with?
Conducting any legal transactions, and working with real estate is no exception here, is associated with investing or receiving considerable sums of money. It is this circumstance that makes many sellers and buyers nervous. In order not to worry about their funds and avoid transactions with scammers, many reasonably apply for legal services to support real estate transactions. An experienced specialist can take over:
- Search for various information about the presence of encumbrances, debts or liens on this property object.
- Verification of documents provided by the seller.
- Full support of the real estate purchase and sale transaction, including preparation of the necessary documents and presence at the transaction.
- Assistance in drafting and terminating the lease agreement.
- Assistance in registration of ownership of real estate.
- Legal advice on real estate transactions at all stages of the procedure and, if necessary, the search for non-standard solutions.
- Representation of the client’s interests in court.
As you can see, the duties of a lawyer in support of real estate transactions include a number of important tasks. Such versatility is not accidental at all: specialist services are relevant for all market participants: seller, buyer and other interested parties.
What risks does working with a professional lawyer protect you from?
In fact, the subjects of any property transaction should always seek help from a specialist, and especially if there are signs of any risks. From experience, we can say that legal support for the purchase and sale of real estate can relieve several unpleasant situations at once. What do we mean by that?
- The purchased object has certain nuances, because of which the sale was impossible. In our opinion, this is one of the most unpleasant scenarios for the acquirer. There is a great risk of being involved in a legal dispute, the result of which may be the alienation of the apartment and the refund of the money back. However, there are already risks associated with the possible waste of your funds by the seller and the possible duration of their return.
- The presence of bank, judicial or other encumbrances. Firstly, not every restriction allows the sale of an apartment. Secondly, a special treachery lies in mortgage collateral. Here the buyer may face a situation when he repaid the seller’s loan, and the latter withdrew the decision to sell the property. Problems can also cause other types of encumbrances – due to a lifetime annuity agreement, arrest or the right to permanent residence in an apartment of persons registered in it.
- Violation of the rights of minors when selling an apartment or house. Most often, this situation occurs when using maternity capital and not allocating a share for children. According to the current legislation, when raising money from the mother capital, the apartment is divided into all family members in equal shares. This provision also applies to children under 14 years of age. However, with the legal support of the purchase of real estate, we are often faced with the concealment of the fact of using the mother capital and the lack of distribution of shares. Such a situation is fraught with the recognition of the transaction invalid. But the main problem is the presence of nuances for the refund of money from the seller to the buyer.
- The interests of former spouses are not taken into account. According to the Civil and Family Codes of the Russian Federation, property acquired in marriage is considered joint. On this basis, it is necessary to dispose of such real estate by mutual consent, even after a divorce. The sale of an apartment or house by one of the former spouses can easily be challenged by the second of them in court.
The procedure for registration of purchase and sale of real estate
As we noted earlier, a lawyer for the sale of property provides full transaction support from the seller or buyer. In order for the goal to be achieved for both sides, it is necessary to perform consistent work.
Firstly, it is necessary to conclude a contract for the provision of legal services for the support of real estate transactions.
Secondly, it is required to analyze all the title data and documents proposed for signature. It is at this stage that a number of factors with increased risk may be revealed, due to which the transaction may be postponed or canceled. As a rule, in our practice we have encountered such cases:
- The apartment was inherited, but not all heirs participated in the transaction.
- Shares in the property belong to children, but their interests in the sale of real estate are not taken into account or there is no permission from the guardianship and guardianship authorities.
- The property has been privatized. However, the procedure was carried out with a violation or an apartment with the right of residence of a person who refused a share during privatization.
Thirdly, it is necessary to prepare a contract of sale. It takes into account the method and procedure of payment, the amount of the advance and other nuances.
Fourth, after signing the documents, they are submitted to the MFC for registration of ownership rights in the Rosreestr.
What documents and information are required to complete the transaction?
Legal support of real estate transactions involves the collection of certain information and the availability of a number of documents. They can be divided into several blocks.
The first is personal documents and data. We are talking about the passports of the parties, information about marital status.
The second is documents and information about the property. This is a title document, a cadastral or technical passport, a certificate of the absence of arrears on utility bills, information from the passport office about those living in the apartment.
Is it possible to return the deposit if the apartment turned out to be burdened?
According to paragraph 1 of Article 463 of the Civil Code of the Russian Federation, the seller’s failure to fulfill the obligation to transfer the goods is the basis for the buyer’s refusal to fulfill the contract of sale. Thus, if the seller cannot remove the obstacle to the transfer of the apartment to the buyer, then the second can demand a refund.
VALEN’s lawyers have extensive practice in providing legal services to support real estate transactions. We have repeatedly participated in court disputes, where we defended the interests of our clients against claims from both unscrupulous sellers and government agencies. We will be glad to provide legal assistance in the transaction of purchase or sale of your object.
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