In general, real estate is the most essential and expensive tangible asset of any business. The successful development of a business depends substantially on the way in which legal rights to real estate are formalized.

The notion of ‘real estate’ includes buildings, enterprises within a property complex, CPI objects, plots of land and many other assets. A great variety of economic operations (purchase and sale, lease, privatization, mortgage, the subjection of property to an easement, re-establishment, reconstruction etc) relating to real estate are bound by specific legislation. To protect your rights, it is essential to understand all the particularities and inconsistencies of this legislation.

Our in-house specialists have significant experience in organizing, managing and enabling real-estate transactions, and provide a wide range of highly professional legal services in this area.

Verification of rights

Primary legal expertise in real estate rights and risk appraisal is essential when considering the possibility of purchasing or selling real estate, as is understanding the legal procedures involved in such a purchase or sale.

Extensive experience and knowledge in these fields enables our specialists to employ service-provision technologies to identify any potential risk of loss of property rights. 

Supporting transactions

There is a global misconception that real estate can be purchased without structured legal support. This common error overlooks the legal obligations relating to this type of transaction (which may be enshrined in related branches of family, corporate or tax law) and the need for specific agreements to ensure the normal functioning of real estate.

To avoid risks relating to transfer of property rights, you need to know in advance what documents are required, the order in which they must be issued, including timescales and the relative obligations of the parties to the transaction.

We can offer you the best and most appropriate options for transaction structuring, to ensure the agreement of the parties through careful cost/price calculation and the right approaches to reducing or sharing risk.

Construction, reconstruction and remodeling

Construction is one way of purchasing real-estate rights. The challenges include detailed regulation and tight control by state authorities at each stage of the process of construction, from the choice of a plot of land until receipt of a construction permit. In addition, during construction, the parties involved enter into relationships that require qualified legal formalization.

Any legal errors made when formalizing contract relations with construction participants, or the non-fulfillment of legal requirements regulating the construction process at any stage, may lead to financial penalties or even the loss of the investment.

Our team of professionals includes well-qualified lawyers with a wide range of knowledge in the field of land, urban planning and tax legislation, and other related areas. They can offer legal support on any aspect of urban planning.

Services and power supply

Real-estate transactions often fail to address power supply and public service issues. There can also be other problems with access to essential services such as means of transport, communications and utility lines. Failure to address such issues can threaten the viability of the investment.

Our specialists have practical experience in formalizing rights to means of transportation, communications and supply of utilities. They can also provide highly qualified assistance in establishing legal relations with power suppliers and networks, as well as public services providers.

Privatization

At present, the privatization of state property is closely regulated, and property purchasers who violate this legislation will incur penalties. Purchasers must ensure that their activities and documentation fully conform with the requirements of the legislation. Failure to do so will incur a risk that applications to participate in state property privatization will be refused.

BEFL can represent your interests in negotiations with state and municipal bodies. We can analyze the terms of privatization for you, drafting and submitting applications and offers, participating in auctions and controlling the transferred title of the property purchased.  All these approaches help protect your interests in any failure to comply with the law when involved in state property privatization.

Real estate and land database

To ensure the efficient management of assets (land, buildings, premises), particularly in regard to holdings and companies in different areas, you must hold up-to-date and reliable information on all real estate, its legal characteristics and constituent documents.

BEFL is highly experienced in creating structured databases for plots of land and buildings. We can help you establish technical procedures for designing and implementing a database, developing a property classification system and transactions, establishing financial statements relating to property for managers and board members and integrating this data into financial accounting systems.

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