The war in Ukraine has brought numerous challenges affecting all areas of life, including the real estate market. Selling an apartment during military conflict may seem like a difficult task, but with the right knowledge and preparation, the process can be successfully completed. This article outlines the key aspects and recommendations for selling an apartment during wartime.
Before listing an apartment for sale, it is necessary to assess its market value. During war, property prices may fluctuate due to changes in supply and demand. It is recommended to contact professional appraisers experienced in such circumstances to obtain an objective valuation. The property assessment must be carried out by licensed appraisers and must be entered into the Unified Database of Valuation Reports of the State Property Fund of Ukraine.
Make sure all documents for the apartment are in order and that you have the legal right to sell. It is advisable to consult real estate lawyers in Kyiv to analyze the validity of the ownership documents and their registration at the time the property was acquired. They will also verify your ownership rights, the need for spousal consent, the compliance of documents with the technical specifications of the property, and other essential conditions required for concluding a transaction.
Clarify all legal details related to potential restrictions on real estate sales during wartime. For example, there may be delays in ownership registration or restrictions on leaving the country.
Given the wartime situation, traditional sales channels may be less effective. Here are a few strategies that may help:
- Online platforms: Use internet resources to post real estate sale listings.
- Social networks: Use social media to spread information about the sale.
- Realtors: Involve professionals experienced in handling crisis situations.
Ensure safety during apartment viewings. It may be better to schedule visits during times with lower risk of shelling or danger. Consider virtual tours so potential buyers can view the apartment remotely.
Understanding the risks is a crucial part of the process. Stay updated on news and developments in the country, as they can affect both demand and prices.
It is important to remember that real estate sale or purchase agreements can only be notarized by a notary located at the site of the property or at the registered residence of the buyer or seller.
Currently, restrictions apply to property acquisition by individuals or entities connected to the aggressor state.
According to CMU Resolution No. 164 “On Certain Notarial Issues During Martial Law,” incomplete notarial actions at the request of persons associated with the aggressor state, as defined in Resolution No. 187, must be suspended. If such a person applies for a notarial action, the notary must refuse.
According to Resolution No. 187, such persons include:
- citizens of the Russian Federation, except those legally residing in Ukraine;
- legal entities established and registered under Russian law;
- legal entities established and registered under Ukrainian law whose ultimate beneficial owner, member, or participant holding 10% or more of the share capital is the Russian Federation or a Russian citizen, except those legally residing in Ukraine, or a legal entity registered under Russian law;
- legal entities established under foreign laws whose ultimate beneficial owner, member, or participant with 10% or more of the capital is the Russian Federation or a Russian citizen (unless residing in Ukraine legally), or a legal entity registered under Russian law, if obligations are fulfilled at their expense from the state budget.
It is prohibited to acquire property rights for real estate located in areas of active combat or temporarily occupied by the Russian Federation.
Selling an apartment in Ukraine during wartime is a complex but feasible process. Engaging professionals for legal support, choosing the right strategy, and paying attention to details can help achieve a successful sale even in challenging times. Always ensure the legality of the transaction and the safety of all parties involved.
For more detailed legal advice, you may contact the lawyers at the legal company “First Legal” by filling out the contact form on our website or by calling: +38 (044) 35-35-164, +38 (067) 306-89-89, +38 (063) 45-85-448, +38 (099) 367-89-89.