The change of transfers and mortgage lending will solve the problems arising from failure to provide contract documents to buyers who paid for the property they purchased and fulfilled all necessary obligations due to the developer's debts. Exactly, the new legislation allows, under certain conditions, the real estate register to free, eliminate, transfer and cancel mortgages and / or other amounts. Furthermore, the provisions of Law N. 139 (1) / 2015, also known as hidden mortgage law, contain all sales that took place before the end of 2014.
The Transfer and Mortgage Act, N 139 (1) / 2015 entered into force on September 4, 2015. The provisions of this special regulation are intended to protect trapped buyers by releasing their purchased properties from the developer's financial obligations. If you are one of the buyers who have not received a title act due to the developer's mistakes or financial problems. As a result, it is requested to submit an application to the country register. Please note that the specific regulation applies to agreements (purchase agreements) that have been submitted to the National Register until 31 December 2014.
In this point, I would like to describe that trapped buyers should submit the necessary evidence to obtain a contract. Then I will explain the necessary steps and procedures that a captured buyer needs to follow so that his or her application is being reviewed and then given a title action.
Qualified applications: a
It should be emphasized that those who have the right to submit an application to the country registry are the captured buyer, the seller (in our case the developer), the mortgage and the borrower based on the loan agreement with the buyer.
According to the provisions of sections 44IH and 44KST, the Director will review the submitted application under the following conditions:
-The purchased amount has been paid in full.
-There are registered contract documents for the purchased property.
If a contractual document for the property has not been issued, the Director will prompt the buyer by paying a written notice to pay the balance of the purchase price in a special sub-account within 30 days of receipt of this notice.
Waiting for program:
I would like to point out that, according to the law, an application remains until the purchase price has not been paid in full and a separate contract has not been issued for the purpose of the contract prior to the date of application.
Within 45 days, the following persons have the right to object:
-Other person in whose favor a seizure and / or a ban has been registered
Obligation to produce proof:
The Director may ask any interested person to submit evidence within a certain timeframe at any time of the process. The person submitting the application is required to provide proof within the time limit specified in the current notice. The Director may not bend more than 10,000 euros to someone other than the applicant who does not provide proof and pays extra charges that may not exceed 100 euros for each day the violation continues.
Examination of application:
The application is examined regardless of whether the contract documents have been issued or not. I would like to emphasize that the trapped buyers are obliged to pay the full amount of the purchased property or part of it until the date on which they submit their application.
If the necessary conditions are met, the Director of the Land and Investigation Department informs all parties concerned, in our case of the buyer, the seller, the mortgage and the lender that 45 days after notification, the transfer of the property to the captured purchaser will be held.
At this point, I would like to emphasize that the parties concerned can make a new objection according to the following criteria:
-The buyer's obligations to the seller have not been met.
The contract between the captured buyer and the seller is not valid or has expired after a court order.