Parents Helping to Buy an Apartment: Gift, Loan and Prenup
Parents giving money towards a young couple’s apartment? The difference between a gift to one spouse, a gift to both and a loan, and how a prenup protects it.
Apartment Sale Contract: What to Check Before Signing
Apartment sale contract: what to check before signing?
A sale contract sets out the seller’s and buyer’s obligations, the price, payment dates, handover of possession and how the rights will be registered. Before signing, check the rights documents, charges and notes, the condition of the property and whether what was agreed verbally appears in the contract. The checks required vary with the circumstances; in a dispute or if you want to cancel a contract, the agreement and the facts must be examined before concluding whether there are grounds and what remedies may be available.
Drafting an apartment sale agreement
The agreement should accurately reflect what was agreed and address issues that may arise on the way to completing the deal, including payment dates, conditions for transferring the rights, division of expenses and taxes, handover of possession and dealing with breaches. Amending the draft is part of the negotiation, and you should not sign before understanding the clauses and appendices.
Legal checks before selling or buying
The checks should fit the property’s registration and planning status and identify relevant obligations, charges or restrictions. Possible tax implications also require individual review. Paz Israel & Co. supports sale and purchase transactions according to the details and documents of each deal.
How do you review a contract to buy an apartment?
Reviewing the contract is more than reading the clauses. Compare the property and rights details with the documents, examine the payment schedule, securities, handover, registration and appendices, and make sure each party’s risks and obligations are clear. If a dispute arises after signing, the contract and circumstances can be examined to see what options are available; cancellation and compensation are not automatic.
Legal support for an apartment sale contract
Paz Israel & Co. assists with reviewing, drafting and negotiating sale and purchase agreements. See also our property purchase page, or contact us with the details of your transaction.
More articles
Prenup, Pensions, Study Funds and Stock Options
How pensions, study funds and stock options are divided under the Israeli resources-balancing regime, and what a prenup can set to prevent a future dispute.
Prenup and an Investment Property, in Israel or Abroad
What happens to an investment apartment on divorce, and how a prenup can settle rent, appreciation, a mortgage paid from joint funds and property in Cyprus.
Prenup When One Partner Is a Foreign Resident or New Immigrant
A prenup for an international couple in Israel: which law governs your property, choosing the law in the agreement, notary approval, apostille, assets abroad.