7.5 C
London
Wednesday, February 28, 2024

Purchase of an apartment. New obligation at the notary. Explains the Ministry of Development and Technology

Must read

- Advertisement -


Before the notary public, a statement will be submitted that no flat has been purchased for the last year – explained the development ministry when asked about the project on package purchases of flats. He also informed that the possibility of circumventing the regulations through donations will be limited.

On Tuesday, the Ministry of Development and Technology announced that a draft act on restrictions on the purchase of residential premises had been sent to the Chancellery of the Prime Minister. The draft assumes that a person (both institutions and investment funds or individual investors) who owns at least five residential premises will be able to buy only one flat once a year.

In addition, when buying a sixth or subsequent apartment, you will have to pay a higher tax on civil law transactions in the amount of 6%, and the tax will also be applied to transactions on primary market.

Statement submitted to a notary public

When asked how the purchase of one apartment more than once a year will be limited, the Ministry of Agriculture and Tourism explained that “the security will be a declaration submitted to a notary public under criminal liability”. “In addition, it will be possible to declare the contract invalid in accordance with Article 58 of the Civil Code,” the ministry said.

- Advertisement -

According to par. 1 of this article, a legal action contrary to the law or intended to circumvent the law is invalid, unless the relevant provision provides for a different effect, in particular that the invalid provisions of the legal action are replaced by the relevant provisions of the law.

When asked whether restrictions on purchasing more apartments for people with at least 5 apartments would not encourage circumventing the regulations, e.g. by saving real estate for children, the ministry replied that the possibility of circumventing the regulations through donations would be limited.

The Ministry of Agriculture and Tourism informed that the project will be available after entering it into the list of legislative and program works of the Council of Ministers.

Main photo source: Photocon/Shutterstock



Source link

More articles

- Advertisement -

Latest article