One of the important amendments, explained in the Federal cadastral chamber for the reduction of terms of state registration of contracts of participatory construction. After registration of the contract with the first participant of share building is carried out subsequent registration within five working days, and when submitting electronic documents – within three working days.
registration of the contract with the first investor takes more time because first, there is legal examination of the submitted documents, including those relating to the construction of an apartment building, checking the information about the Builder and the introduction of relevant information in the Unified state register of real estate (egrn).
In Cadastral chamber remind you that now registration of contracts of participatory construction takes up to seven working days. If you apply through the MFC, the procedure will take up to 10 business days.
the Contract of participation in share building of state registration is mandatory. If this is not done, the contract would not have legal force, even if signed by both parties to the transaction. Only the registered agreement with the stamp gives the buyer the official status of interest holders and is able to protect his rights and interests in the event of improper construction or bankruptcy of the Builder.
Documents for registration of the contract can be submitted to the authority of registration through MFC. In this case, if the Registrar becomes aware of the financial insolvency of the Builder, the forgery of the submitted documents or will be identified other obstacles to the registration agreement, the applicant will receive an official refusal to register the contract with justification. Thus, with the help of registration procedure future interest holders can protect themselves from fraud at the preliminary stage of the transaction.
Information about registered contracts equity interested persons may obtain by requesting a statement of the egrn. The statement contains information about the land, which is under construction.
While the developer is designated in it as the owner of the land, and was POS (contracts equity) as of encumbrances of rights to land. The equity holders specified as the face, the benefit of which the data set encumbrance. If the participants of shared construction many, that statement may be very voluminous. So order it in electronic format. Besides, it’s faster and cheaper. And with the help of online service Cadastral chamber such extract can be obtained independently for just a few minutes.
