Purchase of real estate by a legal entity

Quite often, when buying real estate, there is a great risk of being left with literally nothing. The purchase and sale of real estate belongs to the category of complex procedures that can cause a lot of trouble to the participants of the transaction. That is why it is very important to enlist the support of professional lawyers. In this article, our experts, lawyers Prykhodko and Partners will tell about the purchase of real estate by a legal entity.

Peculiarities of buying real estate by a legal entity

According to the current legislation, in Ukraine, a legal entity can own both movable and immovable property.

It is very important to approach the process of buying real estate by a legal entity correctly and responsibly. The smallest mistakes in this process lead to problems with representatives of tax authorities.

Lawyers Prykhodko and Partners offer full legal support for transactions related to real estate. We will also help:

• Get a technical passport, BTI permit.
• Conduct an expert assessment of real estate.
• Legalize the reconstruction process, change the purpose of the land plot.

In addition, we solve even the most complex issues related to land and home territory. Our lawyers will help to re-plan buildings, legalize self-construction, carry out privatization, etc.

Buying Real Estate in Martial Law: What to Consider?

With the introduction of martial law in Ukraine, Resolution No. 480, which regulates the peculiarities of buying and selling real estate, came into force. Let’s consider these changes in more detail.

First, notarial actions related to private and commercial real estate are performed only by notaries with appropriate qualifications and accreditation.

Secondly, the sale of real estate is not possible within 30 days from the moment of legalization of ownership of the selected real estate in the relevant Register.

Exceptions are real estate objects that were obtained as a result of determining the size of shares in the right of compatible joint ownership.

Thirdly, certification of the contract by a notary is carried out only at the place of its location.

The exception is the execution of transactions regarding real estate objects located in Kyiv and the Kyiv region.

Fourthly, it is prohibited to sell real estate by an individual on the basis of a power of attorney. That is, only the owner can sell real estate, both private and commercial.

Important: this restriction does not apply to the purchase of real estate by individuals and legal entities. For example, an agreement for the purchase and sale of real estate is carried out on the basis of a power of attorney.

Fifth, it is prohibited to carry out real estate transactions in the territories included in the List of temporarily occupied territories.

Therefore, the current legislation, even under martial law, is aimed at the gradual restoration of the functioning of the real estate market. The introduced restrictions help to minimize various fraudulent schemes related to real estate.

Help from real estate lawyers

Lawyers Prykhodko and Partners provide a full range of services to support the purchase of real estate by a legal entity. We will analyze each specific situation to develop the optimal algorithm of actions. In addition, we will advise you on the accounting and display of transactions related to real estate in the documents of your company after the sale or purchase.

If necessary, we will help record the sale of real estate in the company’s accounting records.
Do you still have questions? We are waiting for a preliminary consultation! To calculate the cost of a lawyer’s services for the purchase of real estate, fill out the form below.