In the nearest future, the land market in Ukraine will be supplemented by the possibility to purchase the agricultural land. Land is a particularly valuable resource and is under special state protection. In addition to personal use, land plots are most often purchased for rent (most relevant for agricultural land). Specialists of the First Legal law firm advise to take a responsible approach to the procedure of re-registration of land ownership. In the future, this will both save time and avoid additional costs.
The seller’s support during the sale of the land plot includes:
- Verification of the seller’s identity in terms of any prohibitions on real estate deeds, open enforcement proceedings and court cases.
- Verification of title documents for the land plot, availability of encumbrances/restrictions on the subject of the agreement, property rights of third parties, court cases.
- Advising on taxation of the transaction.
- Filing a request for an excerpt from the State Land Cadastre for the land plot;
- Advising on obtaining the documents required for the sale of the land plot (making an expert assessment, etc.).
- Analysis and amendment of the text of the sale and purchase agreement subject to the seller’s interests.
The said service is basic and may be extended depending on its complexity.
The purchaser’s support during the purchase of the land plot includes:
- Verification of the seller’s identity in terms of any prohibitions on real estate deeds, open enforcement proceedings and court cases.
- Verification of title documents to the land plot, availability of encumbrances/restrictions on the subject of the transaction, property rights of third parties and court cases.
- Verification of the purchaser’s identity in the State Register of Debtors.
- Filing a request for an excerpt from the State Land Cadastre for the land plot.
- Advising on the ownership regime arising as a result of the purchase of the land plot.
- Advising on taxation of the transaction.
- Analysis and amendment of the text of the sale and purchase agreement subject to the purchaser’s interests.
The said service is basic and may be extended depending on its complexity.
* Payment for the cost of expert assessment and notary services is made separately.
Comprehensive inspection of the land plot before the purchase
The state registration of the land plot as a real estate item shall be preceded by a significant number of legal and other procedures: development of a land management project for allotment of the land plot, its approval by the competent authorities, enactment, introduction of the information about the land plot into the state registers, etc. However, division or combination of land plots occurs quite often, as well as the change of purpose, and other actions, which shall be carried out in compliance with the applicable legislation. Consequences of violation of the established procedure can be various, including recognition of the subsequent land plot sale and purchase agreements invalid.
Before purchasing the land plot, if the purchaser plans to use it for economic purposes, he shall better study the urban planning documentation of the settlement it is located in. It should be done in order to find out the planning area the land plot is located in, the maximum permissible number of buildings in this area and types of economic activity, which are not prohibited thereon.
A comprehensive inspection of the land plot includes the basic service for the purchaser’s support during the purchase of the land plot.
The First Legal experts recommend you to use a comprehensive inspection of the land plot, as the maximum amount of input information about the real estate is the key to its objective analysis and making the right decision on acquiring ownership thereof.