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Main » Articles » Real Estate » Apartments

Purchase mortgaged apartments: Watch the fine print

How to avoid buying mortgaged apartment, that the buyer should know, if he accidentally or deliberately acquired such property, as it does not lose?

At the conclusion of any contract the parties must provide each other with full information on the subject of the transaction, otherwise the contract will be invalidated. Therefore, when buying a property very carefully read the contract.

Perhaps the text in the bottom of the page in small type, and contains information that the property mortgaged. In the event that the parties signed a purchase agreement, which expressly stated that the purchased property is located in the pledge, it is believed that the buyer is notified of this fact. Thus, after signing the contract you can not dispute the fact that you have been warned. Three times check once buy.

There are cases where the seller is trying to implement real estate, without advertising, it has been laid. To avoid trouble, it is worth examining the certificate of ownership. When making a pledge apartment this document is the registration body, and after the termination of the owner of the collateral issue a new certificate.

Both the certificate (of ownership and the pledge) are compiled for a single form. But in the row "issuing authority" in the certificate of ownership given to a document that served as the reason for obtaining this right (the contract of sale, wills, etc.). The certificate of right of pledge in this line provides information on the mortgage agreement. Therefore, when buying an apartment or other real estate it is meticulously study: it is possible that you attempt to sell the mortgaged property.

Another confirmation of rights to an apartment is an extract from the Unified State Register of rights to immovable property and transactions with them. This statement may be obtained by any person on any object, because it is public information. If laid flat, in a statement that is sure to be specified. One of the simplest and most effective ways to protect the rights of the buyer - the inclusion in the sales contract terms that at the time of sale of property owned by the seller on the title and any encumbrances are absent. This course allows you to protect the interests of the buyer in full: any action the seller sent to sale of the mortgaged property, violates this clause, the buyer and the seller will be able to apply to the sanctions provided by law.

If thunder

Suppose, despite all the warnings, you bought laid flat. What effect this will lead? First, there is a chance to recognize the contract of sale void if the mortgagee first learned about the new owner after the last registration of the mortgaged property. Secondly, after purchasing the mortgaged property it may take you, and legitimately. In accordance with the law passes to the buyer not only the property itself, but also all the rights and responsibilities associated with it. Quite often, the previous owner is both the main debtor. Because the collateral secures the liabilities, the new owner can only hope that the former owner to pay its creditors. After the sale of property that "forgets" their debts: for now they will not pick his property, but someone else's.

Debtor does not fulfill its obligations guaranteed by the pledge? The lender has the right to meet their demands at the expense of the mortgaged property. Accordingly, it is drawn collection, real estate for sale, and received from the sale amount goes to repay debt.

Chance. But little.

What if the purchased property are threatening to take away? If you signed a contract, which stated that you transferred property with encumbrances, virtually no hope for that. Prove that you have been deceived when signing the treaty, is unrealistic. If the contract had no mention of the fact that the property is mortgaged, have all chances to challenge the deal.

Depending on whether you have managed to take away property or not, you may file a claim for recognition of the treaty null and void (if the property is you), or for damages. In principle, damages are recoverable in the first case. Having learned that acquiring an apartment can be transferred under the contract of pledge, you have to take certain actions aimed at its preservation. Accordingly, your expenses were incurred, which are obliged to compensate the seller apartment.

He does not want to not only reimburse you for damages, but also to pay their debts? Hint of his creditor, that the apartment you got not just so, and got some money from the debtor. In addition, it is worth recalling himself to the debtor, that the responsibility for fraudulent acts still provides the Penal Code. Sometimes it works, it is likely that after such hints debtor will pay voluntarily and with the lender, and with you. Of course, we should not forget about the compensation for moral damage. Its size, as a rule, the court sets. If the seller has disappeared with the money received for the apartment, just when you learned that the object has been laid, boldly apply for a criminal case. If the fugitive is found, it will have to be attributed not only to the buyer, but with the internal affairs bodies.

Unfortunately, hope for the solidarity of the creditor with the new owner of mortgaged property is not necessary, since the lender most important thing - to return their money legally, from whom he receives them, he no longer cares. Therefore, the most important thing when entering into a contract of sale of real estate - attention. If you do not take care of themselves, none of you will not. The idea that the verification of documents and status of the property will be interpreted by the seller as distrust or contempt, should move to the background. I have to check every letter and digit in the contract. When buying property you are risking not only their money but also their future, so treat this matter seriously.

Category: Apartments | Added by: Дмитрий (19.03.2010)
Views: 308 | Rating: 0.0/0

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