Russians’ demand for buying apartment shares quadrupled in 2024. Lawyer Irina Nigmatullina told socialbites.ca about this. She named two risks of such transactions.
According to him, pool deals are made by those who plan to make money on an apartment, rent it or resell it, that is, make a profit.
“If the purpose of purchasing an apartment is trade and resale, buyers can register an individual entrepreneur. The reality is that the sales tax will be lower than for individuals (6% instead of 13%). At the same time, the first and most obvious risk when purchasing shares in an apartment is the possibility of conflict with the transaction partner,” noted Nigmatullina.
According to him, before a transaction, you need to make sure of the reliability of the person from whom you plan to acquire a partner, and if a question arises regarding the purchase of a share of one of the parties, the latter will most likely be. The first person who wants to sell the stock at a higher price will want to buy it back at a lower price. The lawyer explained that it is better to discuss all transaction options regarding an apartment with your partner in advance and record which share of the property belongs to which of the participants.
“There was a case in my practice when a family wanted to buy a three-room apartment using a housing document. As if that wasn’t enough, the living space was purchased with my uncle; His document was the same amount. A year later, they had problems when the relatives decided to separate: both parties wanted to get a larger area,” the expert gave an example.
According to him, in an agreement on the purchase of an apartment by several owners, it is necessary to clearly indicate who will purchase its shares and at what price, as well as all the conditions for exiting the transaction: how the cost of each share will be calculated.
The second risk is the spouses of the transaction partners: When purchasing property, the husband and wife receive this right. Nigmatullina advised that in case of a quarrel, the spouse may not agree to the alienation of property, and all agreements between the partners will be destroyed, which means that it makes sense to formalize the consent of the spouses to the planned real estate transactions in advance.
Previously happened It is known how many Russians refuse to buy mortgaged real estate.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.