Rus Articles Journal

We buy the unfinished apartment. What is a cedation?

Studying the market of real estate under construction, we often face the concept “cedation“.

What is “cedation“ and what it is eaten with, it is difficult to simple buyer to understand. Prices of unfinished apartments it seems democratic, and word terrible and unclear. It that for your money the one who already invested money in construction concedes you the right to receive the apartment instead of it, that is to become the shareholder of housing under construction means.

Having decided on purchase of the apartment, the first that needs to be made, is to learn all information on the builder. How long exists in the market of services in what public organizations consists? Support of the government organizations is also a guarantor of quality.

Surely carry out information monitoring of the building - what terms and how there takes place construction?

Often shareholders will organize the forums, besides the websites of construction companies, on social networks where all hot topics are discussed. By the way, experience of participants of a forum can be useful to you at further cooperation with this company. And after registration of the contract the construction company is obliged to provide at your request all documentation on a building point according to article 21 214 - Federal Law.

The special law regulating transactions on a cedation no. The contractual relations are governed by article 382 of Osnovaniya i poryadok perekhoda prav creditora drugomu litsu Group and article 11 214 - Federal Law “About Individual Share in Construction“. In a case with share real estate a creditor will be the buyer who signed with the builder the contract for receiving in the future the apartment.

The contract of a cedation is made out in a simple written or notarial form, how the contract for shared-equity construction is issued. In case of a simple written form the notification of the builder is not obligatory, then, according to paragraph 3 of article 382 of group of companies, the new buyer bears all risks which can arise at a cedation. It can be just penalties under the contract for the untimely notification of the builder, or to you will just refuse reception of the apartment.

On 214 - Federal Law, the shareholder can concede the apartment after payment of an overall cost of the contract or along with transfer of a debt on other shareholder, and also from the moment of registration of the contract until signing of the transfer act by the parties. It is necessary to remember that the contract of a cedation is subject to the state registration too.

By drawing up the contract it is necessary to pay attention to the following items:

1. In the contract has to be specified on the basis of what original contract the right is conceded.

2. Pay attention to terms, sizes and a payment procedure under the contract as contracts of a cedation are the transactions interfaced to risks.

After the conclusion of the contract it needs to be registered in bodies MFRS (Management of Federal Registration Service), and upon on hands you for this moment will have no documents.

For prevention of risks it is better to make calculation for such schemes of payment as a safety-deposit box and the bank letter of credit. Having chosen the bank letter of credit, you determine date of payment, convenient for you, and the conditions of money transfer to the account of the seller. As a condition registration of the contract can serve in UFRS. It will allow you to avoid financial losses in case of refusal in registration.

3. Though 214 - Federal Law does not provide the obligatory notice of the builder on the planned cedation, many construction companies include this point in the contract. It allows the builder to control all changes happening to the contract and also reduces the risks connected with secondary resale of apartments. Besides, according to article 391 of the Civil Code of the Russian Federation, “transfer by the debtor of the debt on other person is allowed only with the consent of the creditor“, in this case the builder`s consent is required.

4. In addition should be requested the builder it can have documents confirming the fact of payment by the first shareholder acts of verifications, agreements on mutual settlements.

Surely specify what obligations under the contract are fulfilled by both parties and what else should be executed.