Many people think about buying real estate abroad, but do not know where to start the acquisition procedure and what rights and obligations foreigners have in this transaction. What is the acquisition process? List of required documents? What are the costs for the buyer before and after the purchase?
In this article, we will provide an exhaustive list of regulations that must be considered when buying real estate.
1. Document confirming ownership of real estate - the last proof of ownership of the property, which legitimizes the seller, as well as previous notarial deeds.
The most common title deeds are:
• a notarial deed entered in the Registration Agency - a notarial deed of purchase and sale, a notarial deed of donation, a notarial deed of replacement, a notarial deed, etc .;
• act on the transfer of title, with a record of its registration;
• a sale agreement concluded in accordance with the State Real Estate Ordinance;
• a sale agreement concluded in accordance with the Law on Municipal Property and the Law on State Ownership of State or Municipal Real Estate. Contracts concluded after 01.06.1996 must be registered with the Registration Agency.
2. Certificate of tax assessment of real estate - issued by the tax service at the location of the real estate. The address of the immovable property in the tax assessment must be identical to the address indicated in the title deed. Otherwise, the relevant district service issues a certificate of identity of the addresses. All co-owners of the property must be listed in the tax assessment. Co-owners must not have real estate debts (tax and household waste tax must be paid) and this must be indicated on the property tax assessment certificate.
3. Certificate of marital status of the seller (sellers), which indicates what was the marital status of the owner (co-owners) at the time of obtaining ownership of the property. The certificate is issued by the regional service ESGRAON (unified system of civil registration and administrative services for the population) at the place of address registration.
4. Certificate of marriage, if the seller is married.
5. In cases where real estate was purchased before marriage, it is not a SNI (jointly acquired property), but if the spouse is registered at this address, it is necessary to fill out a declaration within the meaning of Art. 26 from the UK (Family Code) on the consent to the sale. The same applies to real estate inherited, donated, etc., which are not SNI.
6. If a proprietary right to use real estate is indicated, in order to make a sale, the user must relinquish the proprietary right granted to him - this can be done by filling in a declaration of waiver of the right to use. To be completed in the presence of the Notary Public and registered. In the event of the death of the user, an extract from the death certificate is submitted.
7. If there was a division of property - submit the relevant document (agreement, court decision), registered in the prescribed manner with the Agency for Registration. The technical plan of real estate when it comes to transferring ownership of land (land plot, yard or part of the yard on which the property / apartment is built). The plan is issued by the district technical service for the location of the property and remains in effect until new circumstances are introduced.
9. When the property is inherited, it is necessary to present a Certificate of Inheritance, a Certificate of Death of the testator, a will.
10. In cases where the seller is divorced, a court order must be submitted to dissolve the marriage.
11. In specific cases, various documents are required by which it would be possible to trace the history of real estate and prove ownership rights.
12. Certificate of encumbrance of real estate - issued by the Agency for Registration, all documents confirming the right to property are attached - from the first notarial deed to the last, in case of inheritance - Certificate of Inheritance. If land or an ideal piece of land is adjacent to the property, a cadastral plan of the land plot is also attached.
13. In cases where the seller cannot be personally present during the transaction, he has the legal right to authorize a third party to represent his interests by means of a power of attorney. The power of attorney must specifically describe the rights that the authorizing person grants to the authorized person. The power of attorney must be certified by a notary - the signature and the content of the document are subject to certification. Attached to the power of attorney is a notarized declaration under Art. 25, paragraph 8 of the ZNND (Law on Notaries and Notary Activities) and the declaration under Art. 264, paragraph 1 of the DOPK (tax and insurance procedural code).
14. Identity card, other documents identifying the buyer and the seller (identity card, certification of the current status, in cases where the party to the transaction is a legal entity - the decision of the relevant competent authority).
15. When a new building is purchased, the developer / investor provides the relevant documents: a building permit, an architectural plan and area distribution, a permit for commissioning - Act, sample 16 and others.
16. Other documents depending on the specific specifics of the transaction. Given the variety of possible options, it is recommended that your lawyer carefully check the documents of both parties to the transaction.
In conclusion, I would like to note that each case is individual and may have its own characteristics, so always carefully study all the documentation accompanying the purchase and, if necessary, contact the specialists for help. The VOTCHINA team is always ready to provide professional support in solving any issues.
