The seller is in bankruptcy or close to it
Posted: Sun Dec 22, 2024 9:17 am
If the real estate seller is in such a situation, the transaction for the sale of his property may be declared invalid at the request of creditors. According to the law, such agreements can be challenged within two years of their execution.
The seller is in bankruptcy or close to it
Source: shutterstock.com
It is important to check in advance for any information numbers (south korean tv series) about the seller's insolvency through the Federal Register of Bankruptcy Information or the Arbitration Case File. It is also useful to request information about their credit history to identify any current or past debt obligations.
The transaction was made by a seller who should not have done so
Agreements made by citizens who are unable to understand the meaning of their actions or control them (Article 177 of the Civil Code of the Russian Federation) may be declared invalid. This applies to people who have not been declared incompetent by the court, but who are forced by health reasons to take strong medications that affect their thinking and perception.
In practice, realtors often face the risk of such transactions being challenged. To reduce these threats, specialists usually request certificates from mental health and drug treatment centers. The presence of these documents significantly complicates the process of invalidating a transaction in court.
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Hidden owners
The transaction may be declared invalid if there are persons not listed in the extract from the Unified State Register of Real Estate but entitled to a share in the apartment. For example, during the privatization process, the share of minor children may not have been allocated. Upon reaching 18 years of age, they are able to declare their rights to the housing.
It can also be held by a citizen who has been discharged from an apartment in the event that he is declared missing. Additionally: persons who have refused to participate in privatization retain the right to use the residential premises, despite this action.
Transactions using maternity capital
When purchasing real estate using this payment, there is a risk that the agreement will be declared invalid if the shares of minor children have not been allocated or permission from the guardianship and trusteeship authorities has not been obtained. These actions are mandatory for such transactions.
Transactions using maternity capital
Source: shutterstock.com
Similar requirements also apply to situations where there are minor children in the seller's family. If they are the owners of the property, then permission from the guardianship and trusteeship authorities must be obtained to sell it. When the seller is married, the consent of the spouse is required to conclude the transaction.
Failure to comply with these conditions may result in the agreement being challenged and declared invalid. The spouse's consent can be obtained through a notary or in person when re-registering the property rights.
The seller is in bankruptcy or close to it
Source: shutterstock.com
It is important to check in advance for any information numbers (south korean tv series) about the seller's insolvency through the Federal Register of Bankruptcy Information or the Arbitration Case File. It is also useful to request information about their credit history to identify any current or past debt obligations.
The transaction was made by a seller who should not have done so
Agreements made by citizens who are unable to understand the meaning of their actions or control them (Article 177 of the Civil Code of the Russian Federation) may be declared invalid. This applies to people who have not been declared incompetent by the court, but who are forced by health reasons to take strong medications that affect their thinking and perception.
In practice, realtors often face the risk of such transactions being challenged. To reduce these threats, specialists usually request certificates from mental health and drug treatment centers. The presence of these documents significantly complicates the process of invalidating a transaction in court.
Re
ad also!
"9 Types of Customer Loyalty Programs"
Read more
Hidden owners
The transaction may be declared invalid if there are persons not listed in the extract from the Unified State Register of Real Estate but entitled to a share in the apartment. For example, during the privatization process, the share of minor children may not have been allocated. Upon reaching 18 years of age, they are able to declare their rights to the housing.
It can also be held by a citizen who has been discharged from an apartment in the event that he is declared missing. Additionally: persons who have refused to participate in privatization retain the right to use the residential premises, despite this action.
Transactions using maternity capital
When purchasing real estate using this payment, there is a risk that the agreement will be declared invalid if the shares of minor children have not been allocated or permission from the guardianship and trusteeship authorities has not been obtained. These actions are mandatory for such transactions.
Transactions using maternity capital
Source: shutterstock.com
Similar requirements also apply to situations where there are minor children in the seller's family. If they are the owners of the property, then permission from the guardianship and trusteeship authorities must be obtained to sell it. When the seller is married, the consent of the spouse is required to conclude the transaction.
Failure to comply with these conditions may result in the agreement being challenged and declared invalid. The spouse's consent can be obtained through a notary or in person when re-registering the property rights.