Safe acquisition of real estate. How to prepare for a deal.

Unfortunately, there is no exhaustive or clearly fixed list of actions that must be carried out before becoming the owner of real estate.

However, it can be recommended to take several steps to check the legal status of the desired property before making an informed decision to purchase it, with an assessment of all investment risks.

Thanks to a number of actions that are proposed to be carried out, it is possible to obtain fairly complete information about the property, its legal status, the features of the transfer of ownership, and the history of its creation and registration as a property.

First of all, it is necessary to investigate the history of the transfer of ownership of the object from the moment of its creation to the current owner. This can be challenging as the last owner of the property may not have documentation of prior ownership transfers. However, this information can be obtained, for example, through an extended extraction from the Register of Real Estate Rights, which is issued by the registrar, or through a lawyer’s request.

Next, it is necessary to investigate the history of the creation of the object – who and when built the object, on the basis of what documents, whether there were lawsuits related to this. For example, if an object was built, and the document on its acceptance into operation was canceled and then restored by a court decision, then the risks of acquiring it must be carefully weighed.

In the future, it is necessary to establish the legal status of the object, since it is important to analyze on the basis of what documents the ownership right of the last owner is formalized, whether he has met all the conditions for acquiring ownership rights. Also, it is necessary to check all available judicial proceedings in relation to the object and its owner, since their impact on the property right can be decisive.

Also

The physical characteristics of the object and its relationship with the surrounding world – buildings, a land plot are checked, since the buyer must be sure that the object being purchased is the object that was determined by the parties as the subject of the transaction (and not the one on the door of which there is a sign with the same room number ), and which is reflected in the technical data sheet. It is important to pay attention to the fact that after purchasing the object, access to it will not be blocked (for example, if it turns out that the corridor through which you can get to the premises is not really a corridor, but another room, the owner of which will deliberately block your access).

In most cases, if such a check is made before buying, its results will give you objective information about the investment object. At the same time, for verification it is possible to use online bots that collect information from open sources, and the information they provide can be quite effective.

Underline

Before you put your signature on a particular document, it is necessary to give a legal assessment of both the document itself and the whole range of accompanying circumstances.

© Legal agency “AKTIV”, 2020.