Maternity capital when buying a home: 5 simple points and hundreds of legal risks

The state maternity capital program is a real opportunity to improve housing conditions. But the paradox is that the more a family wants to save money by using a certificate, the more expensive it can be to make mistakes in registration. Deals with matkapital only look standard, but in fact they are fraught with many traps that can lead to litigation even years later. In order not to lose money or nerves, it is important to understand not only the rules, but also the complexities of their application. That is why market professionals, such as the Maralin real estate agency, insist on legal support for such transactions. This is not an additional expense, but a guarantee that your property will not become the subject of a legal dispute. Let's discuss with the company's lawyer, Daria Maralina, the basic rules for using mother capital, which only at first glance seem simple. Rule number 1: Federal budget funds are the basis, but not the only source. In a number of regions, families are entitled to additional payments (regional maternity capital), which are also allowed to spend on improving housing conditions. What's the difficulty?: The terms of regional programs often differ from federal ones. What is allowed at the federal level may be prohibited in your region or region. A lawyer from the Maralin agency will check the current regulations in your region so that the deal does not fail due to an unaccounted-for nuance. Rule number 2: You can't buy everything you want. The law allows the subsidy to be spent only on residential facilities in Russia: an apartment, a house, a room, a share (if it is an isolated room), construction or reconstruction. What's the difficulty: The most dangerous item is the "share" and "apartment building". When buying a share, you need to prove that it is a separate room. When buying a house (especially on the secondary market), you will need a conclusion about its suitability for living. The slightest inaccuracy in the documents - and the Social Fund will refuse to transfer the money. The seller will not receive them, and you may be left with an unfinished deal. Rule number 3: Mortgages do not remove risks The funds can be immediately allocated for a down payment or repayment of an existing mortgage. What's the difficulty: The deal is complicated by the appearance of a third party, the bank. Now we need to synchronize the requirements of the creditor, buyer, seller and the Social Fund. Not all banks are willing to work with the parent capital as a down payment (many require adding personal funds). An incorrectly drawn-up loan agreement may lead to the fund not transferring money, and mortgage interest is already "dripping." Only an experienced lawyer will be able to conduct a transaction in such a way that the interests of all parties are respected. Rule number 4: The apartment is shared, but requires a share The main rule for certificate recipients is that after buying a home, you need to get a share in the property. What's the difficulty?: This is the most common reason for lawsuits. Firstly, it is difficult to calculate the size of the shares correctly. The law does not provide an exact formula, and an error in the numbers (even accidental) allows custody to challenge the deal. Secondly, if the parents want to sell this apartment in the future, they will have to get permission from the guardianship authorities. Custody will allow the sale only if the children are allocated the same or larger shares in other housing in return. The Maralin Agency will prepare an agreement on the allocation of shares so that the guardianship will not have any questions either now or in 10 years. Rule number 5: Cash is prohibited, which means that the seller is at risk. The state does not hand out money. All payments are made non-cash through the Social Fund. For a regular purchase (without a mortgage), the fund transfers funds to the seller within 15-30 days after the buyer has already become the owner. What's the difficulty?: The seller finds himself in an extremely vulnerable position: he has already handed over the apartment to the new owner, but has not yet seen the money. Many sellers are afraid of such deals and refuse buyers with a mother capital. To reach an agreement, you need to correctly draw up a purchase and sale agreement, including conditions for deferral of payment and a pledge in favor of the seller until full payment. Without professional help, it is almost impossible to negotiate on such terms and not disrupt the deal. The main conclusion Maternity capital is a complex financial instrument that requires impeccable legal registration. An error at any stage (from the inspection of the facility to the allocation of shares) can lead to the cancellation of the transaction or the obligation to return the money to the state. Entrust the most valuable things to professionals. The Maralin luxury real estate Agency offers legal support for transactions with maternity capital. We take all the risks: we check the facility, calculate the shares, interact with banks, the Social Fund and Guardianship, and draw up ideal documents. You will sleep peacefully with us knowing that your transaction is 100% clean and secure. Ask for reliable protection of your interests.