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What is the assignment of rights in the sale of apartments

What is the assignment of rights in the sale of apartments

In civil law relationsassignment of rights issued as a treaty of cession. This is a fairly common pattern, which allows to acquire the rights to an apartment in a multi-storey building of the previous equity holders.

But despite its popularity - at the stage of delivery of apartments is almost 90%, and they are acquired by cession agreements, the deal can be quite risky.

Features shared construction

After beginning in 2005, he joined inthe Federal Law № 214-FZ "On Participation in the shared construction of apartment buildings ..." from shareholders who signed the agreement with the developer to participate in the joint construction, it is possible to assign their rights to the apartment under construction to a third party. The assignment of rights to real estate is possible, in accordance with Art. 382 Civil Code and Art. 11 of the Act, at any time after the contract equity participation has been properly registered in the Russian State Register organs and before the share participant signed the transfer deed to the apartment.
Since it is not a secret that during the construction phase,especially at the beginning, you can buy an apartment at very affordable prices, option rights assignment is quite attractive to many people who want to improve their living conditions. Another question - the reasons for which the initial interest holders - the assignor - wants to sell an apartment under construction under the contract of assignment, losing their right to property is a new participant of shared construction - the assignee.

The risks arising from the conclusion of the assignment agreement

One of the common reasons whyinterest holders want to assign this right may be his debts to the developer. Therefore, before the assignee will sign the contract of assignment, it is necessary to check with the builder, if the debt has on making regular payments for an apartment.
Another reason for which the assignor wantedget rid of the apartments - it became known to him information about the quality of construction or violations of the impending bankruptcy of the developer, for whose conduct he is in front of the assignee is not liable. If the new interest holders, and even wants to terminate the contract, it will not succeed and all claims it will be able to present only the developer and only in court.
On the other hand, the assignee must know thatassignment of the contract may be annulled, if not carried out a number of essential conditions. For example, it can be concluded only after the assignor has fully settled with the developer and he paid the price of the contract. Proof of this is the agreement on offset of mutual claims. In addition, the prerequisite for the assignment of the contract is to obtain the written consent of the developer of the assignment rights. And, of course, for its conclusion will require approval of the credit institution, if the assignor has acquired an apartment on the mortgage.

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