In order to restore ownership of the property, the parties generally sign a declaration of assignment that attests to the transfer as well as the physical condition of the object sold. At the same time, even if the signing of the declaration of surrender is required by law, the fact of the transfer and, therefore, the correct execution of the agreement can be demonstrated by other means. Even if the purchaser signed the declaration of assignment without raising any objections at this stage, he can nevertheless later assert the defects of the property if he proves that such defects appeared before the transfer. Escrow: Escrow is a neutral third party that is responsible for holding money during the buying process. Earnest money deposits are usually placed in trust. Escrow protects both parties until contractual risks have been taken. For example, a buyer could put his or her serious money deposit in trust until a home inspection is completed, and be sure that if he has problems with the inspection and the buyer decides not to proceed with the contract, he or she will receive the serious money deposit from the fiduciary party. Russian law does not provide for any special requirements for a person who owns the property. The property may be in the possession of a natural or legal person.

There are some restrictions based on national security reasons, but the list of such restrictions is quite small (see question 17 below). In the digital age, mixing stacks of paper to sign on the dotted line is quickly a thing of the past. Consider investing in electronic signature software to facilitate the process of creating and signing real estate documents for you and your clients. What is Escrow? If you buy a property, it is owned by a third party until the closing or possession date. It retains the property and all means, from a change of ownership until all aspects of the agreement are respected, such as home inspections, insurance information and financing. When a building is divided into different compartments (as well as a car park) into separate buildings, the building itself is not considered as a single property object, but as a set of separate compartments of real estate and commons. Common property can include constructive elements of the building: basement, walls, roof, buildings, common places such as corridors, etc., elevators, stairs, etc. The common land is jointly owned by the owners of all compartments of the building. The share of each co-owner is set in proportion to the size of the compartments held by such a co-owner. You should use this agreement if a) you are a potential buyer or seller of real estate, (b) define the legal rights of each party to the sale and (c) define the respective obligations of each party before the transfer of ownership. The cost of managing professional real estate varies considerably depending on the type of property, your location, size, purpose and other factors that do not allow for a general assessment of the cost of these services.

If you`re ready to create a sales contract, look in LegalNature for a step-by-step guide. Our real estate purchase agreement will protect your interests and put you on the path to a quick and easy conclusion. In the case of a transfer of ownership in the building (or in a compartment), the buyer acquires the same rights on the land concerned as the seller before the sale. In addition, if the building and land are owned by the same person, it is not permissible to sell the building without selling the land it uses. The remainder of this document will focus on providing a wealth of information on the terms of the agreement.