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WHAT is the assignment of the right to sell an apartment


What is the assignment of the right to sell an apartment </a>

In civil law relationsAssignment of rights is formalized as a cession agreement. This is a fairly common scheme that allows you to purchase the rights to an apartment in a multi-storey building with a previous shareholder.

But, despite its popularity - at the stage of renting apartments almost 90% and they are purchased under cession agreements, this transaction can be quite risky.

Features of shared construction

In early 2005, he joined theAction Federal Law No. 214-FZ "On participation in the shared construction of apartment buildings ...", the equity holders who signed an agreement with the developer on participation in shared construction, it became possible to assign their right to the apartment being built to a third party. The assignment of the right to immovable property is possible, in accordance with Art. 382 of the Civil Code of the Russian Federation and Art. 11 of this law, at any time after the contract of equity participation was duly registered with the authorities of Rosreestr and before the transferor certificate was signed for the apartment.
Since it's no secret that during the construction phase,Especially in its beginning, it is possible to purchase an apartment at quite affordable prices, the option of assigning the right is quite attractive for many citizens wishing to improve their housing conditions. Another issue is the reasons why the initial shareholder, the assignor, wants to sell the apartment under the cession agreement, losing its right to real estate to the new participant in the shared construction-the assignee.

Risks arising in concluding a cession contract

One of the most common reasons whyThe interest holder wants to assign the right, may be his debts to the developer. Therefore, before the assignee will sign the cession agreement, he needs to clarify with the developer whether there is a debt to make regular payments for the apartment.
Another reason why the assignor wanted toGet rid of the apartment - it became known to him about violations of the quality of construction or about the impending bankruptcy of the developer, for which he does not bear responsibility before the assignee. If the new shareholder even wants to terminate the contract, he will not succeed and all the claims he can show only to the developer and only in court.
On the other hand, the assignee should know thatA contract of assignment of rights may be invalidated if a number of material conditions are not fulfilled. For example, it can be concluded only after the assignor has fully settled with the developer and paid him the price of the contract. Confirmation of this is the agreement on offsetting mutual claims. In addition, an obligatory condition for the assignment agreement is to obtain the written consent of the developer for the assignment of the right. And, of course, for his conclusion, a credit institution's permission will be required if the assignor purchased an apartment for a mortgage.

WHAT is the assignment of the right to sell an apartment Was last modified: May 23rd, 2017 By Feyzuilq
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