Fractional ownership is widespread in Russia.Companies attract investors to their funds, build a house, which then becomes the property of the latter.Thus it is possible to buy an apartment in installments and pay off the debt before the end of construction.But that's not all the possibilities offered shared construction.What you need to know about the process of the transaction parties, what to pay attention - read on.
Nuances
In theory, everything is simple and clear, but in the media, this process is covered in a negative way.Why is this happening?Interests parties to the transaction are protected by the law "On joint construction", which was adopted in 2004.He introduced strict requirements for developers.At the moment this is the only normative document regulating the shared construction.What you need to know the customer in the contract?
developer and the object of the transaction.If a company already operating in the market for a long time, has a number of completed projects, it can be considered as a contract partner.Communicate with untested organizations, especially the people who make a deal for the first time, it is not necessary.
Law "On joint construction» № 214 only applies to contracts of the same name.Another formulation is unacceptable.If the developer offers to sign a "Contract of investment," he tries to avoid the spread of the requirements of such regulations: the law "On joint construction", the Federal Law "On Protection of Consumers' Rights.
Before certify the documents, ask the company to give permission to build, find out where the project is located declaration and read it.Under the legislation, the availability of the publication is a requirement for the developer.
Participatory construction contract shall be considered concluded from the moment of state registration.Otherwise, it will be considered null and void.The paper should contain a description of the object, transfer period, the price and payment terms, warranty.
check documents
Law stipulates that a company can raise funds only after receiving permission, publish project declaration and registration of property rights.If at least one of these conditions is not met, the citizen can claim a refund, with interest.They are calculated by the double refinancing rate.According to the agreement, the company must be in the specified period of time to build a property, and after obtaining a permit from the state authorities for commissioning convey his party transactions.The other party is obliged to pay the agreed price and to take place (with a permit).
written contract equity participation in the building should be registered.Only after that it enters into force.Before signing the documents citizen has the right to review such papers:
- constituent documents of the builder;
- certificate of state registration;
- certificate of registration to the tax;
- approval of annual reports for the last three the period of the business;
- the auditor's report.
Increased security transactions
Since 2014 becomes effective rate of the Federal Law "On insurance responsibility of the developer," which applies to share building.What does it mean?In the event of default or bankruptcy of a person can get the money back.When state registration documents the developer must provide liability insurance or surety.Previously it provided an opportunity to provide collateral to secure the deal.
Nuances
insurance contract is concluded in favor of the beneficiary - the citizen or legal entity whose funds employed for the construction.
Insurance event - complete or improper fulfillment of obligations the developer, which has been confirmed by a court decision.
validity of the document is similar to that specified in the contract of shared construction.However, the beneficiary may receive a refund, even two years after the expiry of the transfer facilities.
minimum sum insured is calculated based on the cost of housing.But it can not be less than the market price.
Here as provided equity participation in construction.Law also provides for a procedure of payments:
1. There was a contract of guarantee.If the developer has not fulfilled its obligations, or did not provide a clear answer within the specified period, the client can refer to the corresponding requirement for the guarantor bank.
2. The transaction was provided by the insurance contract.The beneficiary must apply to the company or mutual insurance company (OBC) in the specified period of limitation on the collateral.The law stipulates that payment must be made no later than thirty days from the date of submitting the documents.The presence of debt the developer before the insurance company does not matter.This resolution is valid only for contracts concluded after 2013.
Ways to secure obligations
We have examined in what ways (by law) the customer can return the money spent.However, the availability of the item in the contract does not guarantee the payment of compensation.The document can enter different conditions and reservations, with which you can prolong the time obligations.And all these "ifs" can not go beyond the law.
When construction is slow or does not start for a long time, the client can not wait for the deadline for submission, request to cancel the document in court.This feature is provided if:
1) there has been a termination or suspension of construction of the house, which includes a shared object, in the circumstances indicate that in the period stipulated by the document object will not be available to the participants of the transaction;
2) there are significant changes in the project documentation, including a significant correction of the size of the shared object;
3) a decrease or increase in the total number of apartments included in the new house.
more you need to know about shared construction?
date of commissioning should be clearly spelled out (for example, "no later than 10/15/14").Very often, developers use the advertising phrase: "in the IV quarter of 2014".This wording is incorrect.After two months from that date interest holders may unilaterally terminate the contract of shared construction.It is only necessary to send a written notice.The developer must, within 20 calendar working to repay the money to the customer's account and pay him a penalty.Or add this amount on the deposit, which is open to the equity holders.
The total cost of the apartment, specified in the document, is calculated from the price per square meter of housing, multiplied by the area of the premises.These figures should also be painted.It should also pay attention to the description of the parameters of housing: location, floor, address, area, number of rooms.The warranty period for constructed apartment - 5 years.
In studying documents should pay attention to what point the interest holders have to pay for utilities and maintenance costs.If this item is absent, the obligation arises from the moment of signing the act of reception and transmission apartments, rather than commissioning.
Problems can not be avoided?
Sometimes developers specially "forget" to include some of the items in the document.However, the client may experience material losses, even if the contract is designed properly "Fractional construction."What does it mean?The developer may assign property rights to another legal entity.In this case, he will sell it virtually at cost of the right to all the apartments.Then the company proxy assigns the market price of real estate investors.At first glance, problems should not be.However, in case of risk of bankruptcy or unfinished developer interest holders can make a claim on the basis of the amount specified in the contract.But the apartments were sold at cost rather than at market price.
Another common scheme
Registration of contracts of share construction counts the time of their entry into force.But very often borrowers use a different scheme.They offer to sign a preliminary contract.It contains much of the same items as in the main, except for information on its entry into force.Such documents are not subject to mandatory state registration.If the parties come to an oral agreement that the second party to immediately pay all the money for an apartment.Developer shall conclude the basic contract equity participation in the construction sometime in the future.Real estate investors believe that the deal is framed correctly.But this "gray" scheme only displays the document from the application of the law.
But another popular maneuver.The developer enters into a contract with the buyer, the subject of which indicates no obligation transfer of ownership interest holders, and something else: the financing of investment activities, assignment of rights requirements of premises and the like.That is the essence of the document is determined by its content.But the claim of equity holders, the court may recognize it as invalid, since in fact the document is created with the purpose of avoiding liability under the law № 214.
morning - registration in the evening - Money
Agreement shall be deemed entered into force only after the introduction of its data Rosreestr.Take the money until this point the developer has no right.So, in a document to be registered this time.Believe claims of employees that the documents will be registered "whole bunch" then, but the money for construction is needed now, not worth it.In rare cases, such assurances are true.Transfer Chamber in each document individually is time consuming.But customers can and cheat.Therefore it is better to play it safe and wait for the transaction will be registered in the share construction.The developer may insist on prepayment.But in this case, ask to see the contract for this property, which was concluded in a similar way.Registered document has a stamp, stamp, signature of the responsible person Roseestra and number.If the transaction was paid by means of a mortgage, then this should indicate printing on encumbrance.
Most developers do not want to circumvent the law and have the means to paperwork.But in this case they need additional guarantees.For example, open a bank letter of credit.On a client makes money at the time of signing the contract.But the developer to access them only after a share in the construction of houses will be registered.This measure guarantees the solvency of both the client and allows you to observe the rules of law.
making facilities from the developer
What you need to know about the joint construction at the stage of putting into operation the apartment?
Firstly, this process should be treated reasonably.All questions to find out before signing the documents.All the identified deficiencies should be reflected in a written act of non-compliance of the object.Developer obligations under the law are considered executed from the moment of the signing reception and transmission facilities.The participant has the right to demand elimination of the defects or a reduction in the price of the transaction.If defects have been identified in the course of operation, the developer is obliged to compensate the customer for their removal.
Second, do not succumb to the entreaties.The following are the most common scheme of actions of developers, which are aimed at putting pressure on the client:
- asked to sign a paper saying that all issues will be solved later;
- argue that constitute "other act", which will reflect all claims;
- threatened that in case of violation of terms of paperwork, the customer will have to pay a fine for the rejection of the object.
Competent assistance
There are many nuances that need to pay attention.Therefore it is better to seek help from a specialist who knows how to execute documents on the joint construction, you need to know and take into account at every stage of the transaction.Specialized professionals provide assistance in the following areas:
- Choosing builder checking his documents.
- Accompany the procedure of signing the papers: analyzing the contract, advise on possible risks are negotiating on changing conditions.
- prepare and submit documents for registration.
- accompany the client in making an object, regulate issues of lack of space, the terms of delivery, payment of a penalty, including in court.
- Decorate termination document: control a refund, fines, interest on borrowed funds, as well as compensation for damages in excess of the penalty (attorney's fees).In similar ways to assist in the termination of the preliminary agreement, the contract investment, loan, and so on. D.
Conclusion
buy an apartment in the primary market can be, issued the joint construction.What you need to know the party to the transaction?Many nuances.Starting with the right choice of adequate borrower and finishing features fill an act of reception and transmission.Therefore it is better to use the services of an experienced lawyer who will accompany the client at all stages of the transaction.
