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Your power to winLegal support of real estate transactions
The primary feature of real estate transactions is their exceptionally high cost. The budget for almost any real estate project of a development company often reaches multi-million figures in monetary terms. From a business perspective, real estate investments are considered attractive assets that can generate substantial and stable income (for example, by leasing commercial property). The high value of real estate leads to the presence of individuals who, taking advantage of the other party’s lack of awareness, attempt to seize it illegally. A person unfamiliar with legal intricacies may fail to recognize fraudulent schemes, ultimately losing not only money but also their property.
Another key characteristic of real estate transactions is their complexity. For instance, constructing a multi-story residential building or a shopping center requires numerous approvals from government and local authorities, as well as financial institutions (such as obtaining land for development, approving permitting and project documentation, securing bank loans for construction financing under collateral agreements), and signing contracts with contractors.
Legal relations related to real estate are regulated by numerous laws and subordinate nationwide regulations, building codes, local acts, instructions, and decisions of local authorities. The failure to apply or the incorrect application of a specific legislative act may result in the invalidation of agreements, cause multi-million losses, and, in some cases, even lead to criminal liability.
Given these factors, any real estate transaction or project implementation should be preceded by a thorough legal examination conducted by a qualified attorney. This analysis aims to identify and eliminate all potential legal risks to the maximum extent possible.
comprehensive legal analysis of the status of real estate and unfinished construction projects (Due Diligence), including the evaluation of building permit documentation and title documents for real estate, existing disputes, and encumbrances;
drafting and supporting the conclusion of contracts for sale and purchase, investment in construction, property management, exchange, lease, mortgage, superficies, design, contracting and subcontracting, and other contracts, as well as supporting negotiations on their conclusion;
recognition of ownership rights to real estate and unfinished construction projects;
representation before state authorities and local self-government bodies (State Architectural and Construction Inspectorate, Department of Urban Development and Architecture, Department of Construction and Housing Provision, Real Estate Management, State Architectural and Construction Control Department, etc.);
representation in courts of all instances and jurisdictions in real estate disputes.
support for the state registration of real estate rights;
consultation on real estate taxation.
Before making any transaction related to the acquisition of real estate, it is necessary to conduct a legal examination of the situation surrounding this property (so-called due diligence) – to verify the legality of the current owner's acquisition of ownership, clarify the presence of legal disputes around such objects. This will allow you to identify and assess the existing risks before carrying out the transaction.
A person who has submitted a statement to the executive body of the local council regarding the intention to develop a land plot owned or leased by that person must obtain urban planning conditions and limitations for the design of the construction object.
Construction work may be performed by the client after obtaining a document certifying ownership or use rights of the land plot, or a superficies agreement, and:
- Submit a notification about the commencement of construction works – for objects that belong to the low-consequence class (SSC1) and objects being built under a building passport;
- Obtain a permit for construction works – for objects that belong to the medium (SSC2) and significant (SSC3) consequence classes or require an environmental impact assessment.
A residential building, structure, facility, or other real estate is considered unauthorized construction if it is built or being built on a land plot that was not allocated for this purpose, or without the corresponding document granting permission for construction work, or an approved project, or with significant violations of building codes and regulations.
The success of investments is often determined by how correctly the legal platform for attracting capital is structured. This is why conducting a detailed investigation, carried out by a qualified lawyer, aimed at identifying and eliminating all legal defects, should precede any real estate transaction or project implementation.
The ownership rights and other property rights on real estate, as well as encumbrances, their creation, transfer, and termination, are subject to state registration. Therefore, ownership of real estate based on a sales contract arises from the moment of its state registration.
If the parties fail to meet the legal requirement for notarization of the real estate purchase agreement, such an agreement is void. However, if the parties have agreed in writing on all essential terms of the contract, and the contract has been executed (the seller received payment and the buyer received the property), but one of the parties refused to notarize it, the court may recognize the agreement as valid.
As a general rule, claims related to real estate should be filed with the court at the location of the real estate that is the subject of the dispute (this is called exclusive jurisdiction).