DUE DILIGENCE OF REAL ESTATE OBJECTS
Due diligence is translated from English as a full legal expertise – a detailed report-analysis of the property, its history and the possible risks after the acquisition.
Every potential buyer, when purchasing a real estate property, wants to be sure that in the future there will be no lawsuits, third party encroachments or any further problems during the further exploitation of the property. Buying any real estate, the potential buyer seeks to protect himself from potential risks, so recently such legal service as conducting full Due diligence of real estate objects is gaining in popularity.
During the examination of real estate objects, several criteria are analyzed, which are not exhaustive.
History of the acquisition of the property by the owner, tracking the entire chain of ownership transfer to the object.
In the section of studying the history of the real estate object is checked all the legal documents, the lawfulness of the purchase of the real estate object, information from the archives of the administrative-territorial unit, state registers, BTI registration, etc. is raised and its analysis and detailed study is carried out.
Author: Mykola Baranovsky