It is difficult to surprise anyone with the purchase of real estate in unfinished multi-storey buildings, however, often while real estate reaches the final buyer, manages to visit more than one owner. Similar resale of property rights to real estate, which at the time of sale exists only on paper, is called the sale of real estate on the assignment. What is called an assignment? The assignment is not formally executed and is not any document. By and large, it is a way to change the buyer (equity holder), which is indicated in the contract concluded with the developer. After making such changes, the new buyer receives all the rights of the previous acquirer of real estate, as well as his obligations to the developer. At the same time, all the conditions of sale and the amount that the buyer (shareholder) must provide periodically the developer remain unchanged.
In the circle of lawyers, such an assignment of rights and obligations is called a assignment, and the buyer and seller – the assignee and the cedent, respectively. If at the time of amendment to the contract the amount of the zedent’s debt remains unpaid in full, the responsibility for repayment and all debt obligations are reissued to the assignment.
The subtleties of the design of the assignment
In the process of processing the assignment, the security forces or the seller of real estate is obliged to transfer all the documents related to the initially concluded transaction to the buyer. The package of documents must include a preliminary agreement (agreement), as well as documents confirming the timely making periodic payments in full and on time. The thing is that non -payment of such payments for two or more months gives the developer the right to break the contract unilaterally and not provide the buyer with any real estate, regardless of the amount paid. Thus, you can make the necessary payments for a long time, and ultimately remain without money and without housing. In the process of designing a assignment between the parties, an agreement is concluded, which may need registration. An important requisite of such an agreement is the date of conclusion and the number of the initial agreement, on the basis of which the assignment is drawn up.