Contract of purchase and sale of property rights to an apartment

The current Ukrainian legislation regulates a fairly wide range of possibilities for realizing the right of ownership of one or another property to another person. In particular, we are talking about the contract of purchase and sale of property rights to an apartment. If you need any services related to real estate in Kyiv and the Kyiv region, the specialists of our law office Prykhodko and Partners will help you with this.

Property rights: features of acquisition

Let’s start with the definition itself. Property rights are rights that are directly related to property, however, at the same time, they are not ownership rights. Components of property rights:

1. Ownership of property.
2. Use of property.
3. Property management.

One of the above-mentioned components can act as a property right.

That is, when buying an apartment, the buyer does not own the apartment itself, but the property rights to this apartment. In the future, the buyer may receive the right to own real estate.

In Ukrainian legislation, this is confirmed by Article 656 of the Civil Code of Ukraine. General rules on sales agreements apply to such legal relations. The only condition is that it should not be excluded by the content or nature of property rights.

Rules for drawing up a contract of sale of property rights to an apartment

The legislation of Ukraine does not provide for specific rules for drawing up a contract for the purchase and sale of property rights to an apartment. The main rule is that such an agreement must be in writing.

Also, the subject of the contract must be clearly formulated, i.e., it must be specified which of the real estate objects the buyer acquires property rights to. In addition, the contract must contain information about the property rights that are transferred (for example, the buyer will receive ownership of the apartment after the real estate object is put into operation). It is also important to note the terms of property rights and determine the cost of their acquisition. Regarding the terms. It is desirable that the contract should include:

1. Terms of completion of construction.
2. The term of putting the real estate object into operation.
3. Terms of transfer of ownership of the apartment (to the person who received property rights to the apartment).

A great role is given to specifying the warranty obligations of the parties to the contract. This will protect both the buyer and the seller from default by the other party.

A properly concluded contract can protect you from problems with real estate in the future.

Assistance of lawyers in concluding a contract of sale

In view of the above, the subject of the contract of sale is not only the real estate object, but also the property rights to it. It should be remembered that the alienation of such rights is accompanied by certain features.

Thus, when concluding a contract for the sale of property rights to an apartment, it is necessary to assess possible risks. It is quite difficult to do this without legal knowledge. That is why it is better to involve professional lawyers in concluding such an agreement.

Specialists Prykhodko and Partners will analyze in detail all available information about the developer and the real estate object. Based on the received data, we will prepare the appropriate contract. Our lawyers carry out a full legal review of real estate in both the primary and secondary markets. We have extensive practical experience in this field.

Do you still have questions? We are waiting for a preliminary consultation! To calculate the cost of a lawyer’s services for concluding a contract of sale of property rights for an apartment in the city of Kyiv and the Kyiv region, fill out the form below.