Registration of the contract of sale - an obligatory condition of legalization of the transaction with the real estate

The contract between the seller and the buyer (purchase and sale) is a document confirming the transaction with real estate and fixing the fact of transfer of the right of use from one owner to another. But to write and sign a contract is not enough, we need a mandatory registration of the contract of sale.

Registration of the contract of sale of real estate is held in the justice bodies (FRS - Federal Registration Service). But before the contract gets there, it is necessary to collect a package of documents and compile the contract in three copies: one will remain with the seller, the second will go to the buyer, and the third copy will be sent to justice.

The contract should contain information about the identity of the seller and the buyer (passport data, data on registration of residence); Information about the real estate (location, size, other technical characteristics and its cadastral number). The contract also necessarily indicates the price at which the property is being sold. The question of the price should be specified separately, since in our country it is considered normal to understate the value of the object in the contract - it is beneficial to the seller who needs to pay tax on the transaction. But this can have unpleasant consequences for the buyer, who will have the opportunity to issue a tax deduction (a return of thirteen percent of the transaction value) and will affect the amount of payment if the transaction is terminated in court. Another document is attached to the contract, it is called "the act of transferring the property". The act confirms the fact of transfer and absence of mutual claims. There are two options for writing a contract: independently and with the help of a lawyer, a real estate specialist. Itself, of course, to write cheaper, but as practice shows, with a lawyer more reliable. Next is the registration of the contract with the Federal Reserve.

Registration of the contract of sale passes in the regional justice body, where the property is located. There after the preliminary recording both participants of the transaction are sent. Remember, all documents are signed not by the lawyer (he only prepares them), but in the presence of the transaction registrar, and only these signatures are considered legal.

Registration of the contract of sale is impossible without a full package of documents. It includes: passports of participants in the transaction; Document on the ownership of real property; Cadastral passport of the object; An extract from BTI; An extract from the apartment card and a house book; Notarized consent of the spouses of the participants in the transaction (if any). If the property is shared, then all owners are present, otherwise a power of attorney from the absent person is needed; Prepared but not signed contract; Prepared act of transfer of the property.

So, the registration of the contract of sale is the necessary procedure for legalizing the ownership of real estate. Without this procedure, the fact of the transaction will be considered invalid.