Information Exchange Agreement

Find out on our website about the features of the exchange of mortgage, privatized and municipal housing, forced exchange of apartments through the court, intercity exchange of apartments and exchange of old housing for new ones.

Concept

What is an agreement to exchange an apartment for a house with a plot?

In such a transaction, the party that owns the apartment exchanges it for a house with a plot of land on which it is located.

If the participants agree that the exchange is unequal, one of them makes an additional payment to the other in money.

In this transaction, the first participant loses ownership of the apartment (is its seller), and in return acquires ownership of the house and land (is its buyer).

The second loses ownership of a plot of land with a house on it (is their seller), acquires ownership of an apartment (is their buyer) (read about exchanging a house for an apartment).

Agreement for exchanging an apartment for a house with a plot of land sample.

You can learn about how to exchange a room in a dorm or communal apartment, as well as a two-room and three-room apartment, and what documents are required to exchange living space from our articles.

We understand the issues of land redistribution

On July 14, another online lecture “Rosreestr Schools” took place on the educational channel on the Instagram social network.

Live, experts discussed issues of redistribution of land plots, obtaining ownership rights to a land plot formed as a result of redistribution, and also gave examples of refusal of state registration and judicial practice.

What is land redistribution? This is a change in the boundaries of adjacent plots with the consent of two owners, with the establishment of new boundaries. The procedure is regulated by Article 11.7 of the Land Code of the Russian Federation. The law on the redistribution of land plots defines a simplified procedure - it is enough to conclude an agreement between the owners of adjacent plots and register the transaction with the local municipal authority, as well as register new plots with the cadastral register.

Elena Nikolaeva, First Deputy Minister for State Property Management of the Sverdlovsk Region
: “Redistribution means reformatting the boundaries of a land plot according to certain rules.
These rules are laid down in the Land Code of the Russian Federation in articles 39.27–39:29.” According to the classification proposed by law, there are three types of possible boundary changes - with the participation of owners:

���� Legal entities and individuals.

In this case, it is necessary to conclude an agreement between the owners of the plots and obtain permission from government authorities.

���� Municipal structures.

This type of transaction is used only for the transfer of land from one government agency to another.

���� Municipal structures and individuals.

There are particularly strict demarcation regulations in force here, and a number of additional requirements are imposed on allotments.

“The greatest interest is in the land plots formed as a result of the redistribution of private and state land”

,” noted Elena Pavlovna.

In practice, a situation often occurs: a plot of land runs under an individual residential building and it is necessary to cut off a front garden that is already in use by the owners, or cut off a plot of land that is located behind a vegetable garden. In this case, the question arises: what needs to be done to carry out redistribution? how to increase the land plot?

Let us explain, in this case, it is necessary to take into account certain rules when registering an “addition” to your land plot for individual housing construction:

— make sure that the land plot is demarcated;

— make sure that it is impossible to form an independent area from the cut-off territory;

— make sure that there is no land surveying project or redistribute in accordance with it;

— look in the Land Use and Development Rules on the municipality’s website, the “cut” territory and your site are located in the same territorial zone;

- check on the public cadastral map what the territory that the land user wants to cut off is.

The main refusals in the redistribution of land plots:

— there is no consent of land users, lessors, mortgagees;

- the building on the cut-off land plot will be owned by third parties;

- redistribution of the land plot where the land surveying project and the scheme have been approved (you can view it on the official website - ekaterinburg.rf, in the Official - Department of Architecture section).

Lyubov Pavlovna Zhuchkova, deputy head of the department of state registration of real estate of the Rosreestr Office for the Sverdlovsk region, spoke about the procedure for registering the right to a land plot formed as a result of redistribution: “To register a land plot formed from a land plot for state cadastral registration of a plot owned by an individual and used for the operation of a residential building, and undemarcated lands, the interested person submits an application and boundary plan to the right registration authority (Rosreestr). The application can be submitted by the body that disposes of land plots through the Rosreestr portal in electronic form. Also, an application can be submitted by an interested person through a multifunctional center (MFC), if the act of the authority states that he can apply or must ensure registration of the land plot in the cadastral register.”

It was separately noted that the boundary plan is prepared electronically on disk. It can be prepared on the basis of the layout of the land plot, or on the basis of the land surveying project.

If a cadastral engineer prepares a boundary plan based on a territory surveying project, it is necessary to check the applicant for the authority’s consent to the redistribution, so that in the future this land plot can be put on the cadastral register and the right of the interested party can be registered. The period for cadastral registration is 5 working days.

To register property rights, the interested person signs an agreement with the body that manages the land (in the territory of the city of Yekaterinburg - the Ministry of State Property Management of the Sverdlovsk Region, in the territory of the Sverdlovsk Region - the administration of municipalities) and submits it to the body for registration of rights through the MFC. If there are no comments on the documents, the right is registered. Based on the results of registration of the right, the applicant, through the MFC, is issued an extract from the Unified State Register of Real Estate, which reflects the owner of the land plot. In this case, cadastral registration and registration of rights are not carried out simultaneously, since state-owned lands are involved, which are considered an exception.

If the redistribution involves owned land plots, the rights to which are registered in the Unified State Register of Real Estate (property and property), then in this case the cadastral registration and registration of the right to the formed land plots, and the termination of the right to the original land plots will be carried out simultaneously.

In practice, most often the registrar suspends the state registration. registration:

— if, when submitting documents for redistribution of land plots, the applicant does not submit an application for registration of rights;

- if the land survey plan prepared by the cadastral engineer contains errors (sections are filled out incorrectly, there is no consent from the tenants, there is no approved scheme, or the scheme is presented, but when checked, the registrar sees that the land surveying project has been approved).

The relevance of this topic was confirmed by the number of questions received from students during the online lecture.

We remind you that on the page of the Rosreestr School on Instagram, live broadcasts are regularly held in the public domain, during which you can ask questions to specialists. Anyone can take part. To do this, you need to become a guest or subscriber to the @66rosreestr account or follow the link https://instagram.com/66rosreestr/

We are waiting for you at the Rosreestr School!

What laws govern it?

The type of agreement in question was first established in the Russian Federation by presidential decree in 1993. The rules governing it are set out in Article 31. Civil Code of the Russian Federation.

According to Art. 567th Civil Code of the Russian Federation, these legal relations are subject to the rules of Art. 30th Civil Code of the Russian Federation, which do not contradict Article 31 and the essence of the exchange action. If the essence of these actions diverges, the norms of the Land Code apply. Registration of a transaction is carried out on the basis of articles. 131st, 164th Civil Code of the Russian Federation.

An overview of the practice of the courts of the Russian Federation can be found in Letter No. 69 of the Presidium of the Supreme Arbitration Court of the Russian Federation dated September 24, 2002.

What is it needed for?

The purpose of preferring the option of agreement under consideration is to obtain the desired result in the shortest possible time with a minimum of costs.

Other tasks are solved at the same time:

  1. The risk of deception and the possibility of fraud are reduced. Unlike purchase and sale, during a barter transaction, not a single participant is left without housing.
  2. The one-time nature of the transaction eliminates the possibility of losing funds due to inflation. Sales and purchase transactions contain such a danger, as we have repeatedly seen during the years of reform.
  3. It is difficult and risky to save or borrow the amount needed for a purchase due to devaluation, financial illiteracy of the population, and bank fraud. The type of transaction under consideration solves the problem of mutual shortage of cash .
  4. It is difficult for a non-specialist to adequately evaluate one’s own property intended for sale and someone else’s property being purchased. A person acquires something that is individually valuable to him, although from a market point of view it may not be valuable.
  5. The barter transaction is reliably protected from bailiffs by Article 446 of the Code of Civil Procedure.
  6. The only apartment, house with a plot belong to the category of real estate that cannot be seized from a person for debts or confiscated by a criminal verdict. If the debtor momentarily turns the only home into money, the creditor has the right to seize it. Such a debtor risks becoming homeless.

  7. Among Russians there are many frivolous citizens who find it difficult to resist the temptation to squander the cash they suddenly find themselves in their hands: drink, spend on drugs, entertainment, show off their luxury and extravagance. As a result of this behavior, it is easy to leave yourself and your family without housing and the opportunity to purchase it. Mena protects against such reckless behavior.
  8. Tax savings.
    When exchanging, personal income tax is taken only from the amount of the additional payment if it is officially mentioned in the contract (read about the exchange agreement with additional payment). An alternative option for the purchase and sale of real estate owned for less than three years involves the payment of personal income tax by both parties , as a result we get a doubling of the tax.
  9. Exchange of premises in an apartment building for a private house is an excellent option for solving the problems of relatives. Parents are not able to run a garden due to their age; they need city comfort. The son’s family, on the contrary, is full of energy; they need space for a garage, a swimming pool, a bathhouse, and a greenhouse. In this case, changing is a natural solution, in which none of the participants loses the opportunity to visit their previous place of residence.
  10. Such an agreement eliminates the need for temporary rental housing while searching for new options through purchase and sale. This saves the family from temporary inconveniences that may drag on.

Requirements for form and content

The document is in writing. Its notarization is carried out at the request of one or both parties.

Participants are only property owners.

  1. Please indicate your full name in the header; registration addresses; numbers, dates and issuing authorities, department codes, passport registration addresses.
  2. Numbers are written in numbers and in words.
  3. At the end of the text, full name. participants are indicated in full and signed.
  4. If there are several owners of objects, passport data and signatures of each are required. If among them there is a legal entity. persons, instead of passport data, their details are written, the signature is affixed by the manager or an authorized representative (a power of attorney is attached).

Attached to the document:

  • plan of a plot of land with a house;
  • floor plan of the building in which the living space is located;
  • deeds of transfer signed by the participants.

If desired, the parties can enter into a preliminary agreement.

Terms of the exchange agreement

The main essential terms of the exchange agreement that must be agreed upon by the parties are:

  • Determination of the subject of the agreement - the transferred plots for both parties;
  • Determination of quantitative characteristics of the transferred property;
  • Determining the equivalence of the properties and value of the transferred plots, or indicating proportionate compensation to establish such equivalence.

Agreement on the essential terms of the transaction occurs at the stage of preparation of the contract and is based on the title documents for the land plots (cadastral passports, reports on cadastral and market value, etc.).

Essential conditions

Essential conditions include:

  1. Subject : which specific living space (address, technical characteristics) changes to which house (address, technical characteristics) and plot (location, area, plan). Title documents for all objects, by whom, when, where registered.
  2. Amount of additional payment (if any), payment procedure.

Without essential conditions, the contract is not considered concluded.

Technical characteristics of a house and apartment include the number of rooms, the area of ​​each, total and living area, inventory value according to BTI documents (certificate details), materials from which the buildings are constructed, number of floors, technical passports with layout plans on the floor and land plot.

For land plots, cadastral numbers, area, purpose of use, functional purpose, list of objects located on them, standard value are indicated, expert estimates and cadastral maps are attached.

Participants in legal relations in the text inform each other about existing problems regarding the exchanged objects (or lack thereof):

  1. Disputes about property, site boundaries, claims, claims by third parties.
  2. Easements.
  3. The property is leased, pledged, or under arrest.

Sample land exchange agreement

Land exchange agreement

___________________ "_____" _______________ 20__

We, the undersigned _______________________________________________

_______________________________________________________________________

_______________________________________________________________________

___________________________________________________________, which is

owner of the land plot, which is certified by ________________

_______________________________________________________________________

___________________________________________________________, which is

owner of the land plot, which is certified by _______________

_______________________________________________________________________

______________________________________________________________________,

have entered into this agreement as follows:

1. The Subject of the Agreement

1.1. Under this agreement, an exchange of property belonging to

ownership of ________________________________ land plot

(FULL NAME.)

_______________________________________________________________________

(with or without real estate objects located on it)

to owned by right of ownership ________________________________

(FULL NAME.)

land plot _____________________________________________________

(with real estate objects located on it

______________________________________________________________________.

or without them)

1.2. The land plot being exchanged, owned by _________________,

(FULL NAME.)

has an area _____________, cadastral number _____________, located

(ha, sq.m)

_______________________________________ on the lands of _____________________

(city, district, subject of the Federation) (purpose

________________, provided (purchased) for _____________________.

land) (purpose of use)

The standard price of land is ___________________________________

(amount in rubles)

in accordance with the act attached to this agreement.

Valuation of objects located on the exchanged land plot

real estate is set in the amount of _____________________________________________

(amount in rubles)

according to the summary assessment sheet attached to this agreement

buildings, premises and structures.

1.3. The land plot being exchanged, owned by _________________,

(FULL NAME.)

has an area _____________, cadastral number _____________, located

(ha, sq.m)

_______________________________________ on the lands of _____________________

(city, district, subject of the Federation) (purpose

________________, provided (purchased) for _____________________.

land) (purpose of use)

The standard price of land is ___________________________________

(amount in rubles)

in accordance with the act attached to this agreement.

Valuation of objects located on the exchanged land plot

real estate is set in the amount of _____________________________________________

(amount in rubles)

according to the summary assessment sheet attached to this agreement

buildings, premises and structures.

2. Land and other disputes regarding exchanged land plots

2.1. _____________________ brought to the attention of _____________________,

(full name) (full name)

that for the land plot exchanged by him ____________________________

(not available

___________________________________________________________________ or

land disputes)

There are the following land and other disputes:

A) __________________________________________________________________

_______________________________________________________________________

b) ___________________________________________________________________

______________________________________________________________________.

2.2. _____________________ brought to the attention of _____________________,

(full name) (full name)

that for the land plot exchanged by him ____________________________

(not available

___________________________________________________________________ or

land disputes)

There are the following land and other disputes:

A) __________________________________________________________________

_______________________________________________________________________

b) ___________________________________________________________________

______________________________________________________________________.

3. Encumbrances on the exchanged land plots (easements and other

rights of third parties thereunder)

3.1. On a land plot owned by right of ownership

_____________________, easements have been established on the area _____________.

(full name) (ha, sq.m.)

The lands of the site are subject to other rights of third parties in

connections with:

— accessory ___________________________________________________

(name of objects)

_______________________________________________________________________

________________________________________________________ to third parties;

— transfer of a land plot (part of a land plot) for rent

to a third party;

— transfer of a land plot (part of a land plot) to

temporary use to a third party;

— transfer of a land plot (part of a land plot) as collateral.

3.2. On a land plot owned by right

property _____________________, easements have been established on the area

(FULL NAME.)

_____________.

(ha, sq.m)

The lands of the site are subject to other rights of third parties in

connections with:

— accessory ___________________________________________________

(name of objects)

_______________________________________________________________________

________________________________________________________ to third parties;

— transfer of a land plot (part of a land plot) for rent

to a third party;

— transfer of a land plot (part of a land plot) to

temporary use to a third party;

— transfer of a land plot (part of a land plot) as collateral.

3.3. The boundaries of lands encumbered by the rights of others, and

the contents of these rights are indicated on the attachments to this agreement

plans (drawings) of the land plots being exchanged.

4. Restrictions on the use of exchanged land plots

4.1. On the land plot owned by _______________________________

(FULL NAME.)

on the right of ownership, the following restrictions apply:

use in connection with the establishment of sanitary protective,

technological and other zones or assignment of land plots

(or parts thereof) to lands of environmental, recreational, historical

cultural significance:

A) _________________________________________________________________;

b) _________________________________________________________________;

V) _________________________________________________________________.

4.2. On the land plot owned by _______________________________

(FULL NAME.)

on the right of ownership, the following restrictions apply:

use in connection with the establishment of sanitary protective,

technological and other zones or assignment of land plots

(or parts thereof) to lands of environmental, recreational, historical

cultural significance:

A) _________________________________________________________________;

b) _________________________________________________________________;

V) _________________________________________________________________.

4.3. Boundaries of lands to which restrictions apply

use are indicated on the plans attached to this agreement

(drawings) of land plots being exchanged.

5. Obligations of the parties

5.1. The exchange of land plots under this agreement is carried out

no extra charges.

5.2. Under this agreement, the parties exchange land plots,

not under arrest (ban) and free from any (except

set out in section 3 of this agreement) property rights

and claims of third parties, about which at the time of conclusion

agreements ____________________________ and ____________________________.

(full name) (full name)

couldn't help but know.

5.3. Land plots are exchanged in good condition - as

they are.

5.4. The party whose property as a result of this

of the contract, the land plot is transferred, takes over

obligation to respect the rights of third parties referred to in section 3,

arising from established easements and concluded by the other party

contracts

5.5. Responsibility and rights of the parties not provided for herein

agreement are determined by the legislation of the Russian Federation,

subjects of the Russian Federation.

6. Final provisions

6.1. The agreement comes into force from the moment of registration by district

(city) committees on land resources and land management,

on the territory of which the exchanged land plots are located,

notarized agreement.

6.2. This agreement is drawn up in ____-__ copies.

6.3. The costs of concluding this agreement are borne by both

contracting parties in equal parts.

6.4. The following are attached as an integral part to the contract:

— plans or drawings of the boundaries of the land plots being exchanged;

- acts of establishing the standard price of exchanged land

plots issued by district (city) land committees

resources and land management;

— summary statements of assessment of buildings, premises and structures,

located on the land plots being exchanged (attached when

inclusion of buildings, premises and structures in the subject of the contract);

- claims of the mortgagee for debt (attached in case

if one or both of the exchanged plots are pledged);

— powers of attorney of persons authorized to act at the conclusion of the contract

on behalf of the parties exchanging land plots (attached to

if the contract is signed by authorized persons);

— copies of lease agreements, temporary use agreements, pledge agreements, concluded

parties with third parties on the subject of this agreement.

Registration of the Committee on Land Resources and Land Management

Certification signature and seal of the notary

Signatures of the parties

Rights and obligations of the parties

In case of change, the seller of real estate is obliged to transfer it; buyer must accept.

Each party is obliged:

  1. Transfer objects:
  2. — free from the rights of other persons; — with all equipment, documents; - in the quantity specified in the contract; - exactly those specified in the agreement; — agreed quality and configuration; - with keys, glazed windows, entrance doors.

  3. Notify the counterparty within a reasonable time of the detected violation of the terms of the contract.
  4. Accept the transferred objects.
  5. Pay equally the costs associated with the transaction and its registration.

Each party has the right to demand that the counterparty fulfill its obligations. Participants may be released from performing their duties if force majeure circumstances arise.

The document is drawn up in three copies (for both parties and the registering authority). After signing the transfer deeds and state registration of the agreement, mutual obligations are considered fulfilled.

Registration

Do I need to register and where? The property of the participants in legal relations is transferred after the sequential completion of three actions:

  1. Registration of a document with amendments to the State Register.
  2. The actual transfer of objects to each other with the signing of transfer deeds.
  3. Registration of ownership rights of each participant.

Documents required for registration:

  • statements of the parties;
  • passports, constituent documents of legal entities. persons;
  • power of attorney (if necessary);
  • fee payment receipt;
  • cadastral map of the site;
  • 3 copies of the document;
  • notarized or confirmed by personal appearance consent of the spouses of the parties, if they are married;
  • title documents for objects;
  • technical cadastral passports;
  • if a party receives an encumbered object, appropriately formalized consent of third parties to the transaction.

The document is registered at the Rosreestr institution at the location of one of the objects of exchange, the right of ownership is at the location of the corresponding objects.

Algorithm of actions for registering an agreement

In order for the transfer of rights under a land exchange agreement to be officially registered, the parties need to contact the Rosreestr service or the Multifunctional Center. When registering, counterparties must submit the following set of documents:

  • application for registration actions;
  • general civil passports for the parties to the transaction, or documents for legal entities;
  • a notarized power of attorney for the representative, if the parties used this option for conducting the transaction;
  • exchange agreement and transfer deeds;
  • title documents for property assets - certificate of title, extract from the state register of the Unified State Register of Real Estate, vehicle registration certificate, etc.;
  • boundary plan for the land, if the site has not previously undergone the cadastral registration procedure;
  • payment order confirming payment of the state duty (in 2017, for citizens the state duty is 2,000 rubles, for enterprises - 22,000 rubles).

Depending on the type of application, registration actions will be completed within 7 to 12 days (if applying through the Multifunctional Center, registration will take two days longer). After completing the registration stage, the new owner of the land plot will receive an extract from the state register of the Unified State Register of Real Estate.

Registration of exchange agreements for a share of a plot is possible only after notarization of the transaction. To do this, the owner of the site must follow the following algorithm of actions:

  1. obtain a boundary plan for the share through a cadastral engineer;
  2. send other owners a notice of the conclusion of an exchange agreement with an offer to buy out the share with a preemptive right;
  3. If within a month there is no consent to the specified proposal, or a refusal is received, the agreement is submitted to the notary’s office for certification.

Also on the topic: Do SNT have the right to require you to install meters on poles?

After the notary’s certification mark, further registration actions in Rosreestr will take place according to the general rules.

Features and nuances

The disadvantage of this type of agreement is the complexity and duration of searching for an option that satisfies both parties. They have to be sought on an intuitive qualitative level; price indicators in this area are conditional. When searching for an exchange option, the possibility of choice is significantly reduced.

According to the law, in a person’s life, only one transaction to purchase a home entails a tax deduction of the personal income tax base in the amount of its amount. If you are planning a major, perhaps the only, purchase in your life, it would be stupid not to take advantage of the benefit. But it only applies to purchases and sales.

If this is relevant for at least one of the parties, she will refuse to enter into an agreement. Therefore, often, even in cases where citizens actually exchange real estate, they formalize the legal relationship with counter-purchase and sale agreements.

An individual, non-market approach to the valuation of an object acquired by exchange leads to difficulties in selling it in the future, for example, by the buyer’s heirs.

Double registration of a document entails double costs for registrar services and additional waste of time.

There is always a risk that the counterparty will stop at one of the stages and will not complete it, which will entail the need to go to court or terminate the agreement, incurring losses and inconvenience .

When is it declared invalid?

The main risk of concluding an exchange agreement in exchange for a counter sale: three years after the transaction, one of the parties has the right to change his mind and make a claim against the counterparty , seeking its cancellation with reimbursement of his expenses.

There is a rich list of reasons for which it is realistic to obtain in court the termination of a document and restoration of the original position.

The likelihood of such an outcome is especially high if the transaction affects the interests of minors, incapacitated citizens, the participants in legal relations formally approached the drafting of the text of the agreement, deeds of transfer, and did not attach any documents.

The plaintiff may have several motives. One of them is that he was actually deceived by hiding the negative qualities of the object. But there may be other options.

For example, the additional payment made during the transaction was not indicated in the agreement in order to avoid paying tax. Upon termination of the agreement, the counterparty has no right to demand the return of this amount.

Moreover, the obvious unequal nature of the transaction, due to which an additional payment was required, increases the likelihood that the court will recognize it as void . The counterparty terminates the agreement in court, and appropriates the additional payment received without registration.

The buyer immediately began reconstruction of the house and large-scale construction on the site. The opposing party files a claim for termination of the exchange in order to appropriate the results of the construction .

By hiring an experienced lawyer, she will achieve success. The defendant's funds invested in the restructuring will be appropriated by the counterparty. Plus he will have to pay extra for moving costs and moral damages.

Exchange and donation of land - Land law (Medentsov A.S.)

Exchange of land.

Under an exchange agreement, each party undertakes to transfer one plot of land into the ownership of the other party in exchange for another. The rules on the purchase and sale of land plots are applied accordingly to the exchange agreement, unless this contradicts the special rules and the essence of the exchange. In this case, each party is recognized as the seller of the goods, which it undertakes to transfer, and the buyer of the goods, which it undertakes to accept in exchange. As a result of an agreement for the exchange of land plots, ownership of them is transferred.

The basic rules for the purchase and sale of land plots, which are considered as real estate, are established by civil law. Rules for the purchase and sale of land plots are also contained in land legislation.

Object of exchange

There can only be land plots that have undergone state cadastral registration. When concluding an exchange agreement, the parties are obliged to provide each other with the information they have about the encumbrances of the land plot and restrictions on its use.

The following terms of the land exchange agreement are invalid:

  • establishing the right of the seller to buy the land back at his own request;
  • restricting further disposal of the land plot, including restrictions on mortgages, transfer of land plots for rent, and other transactions with land;
  • limiting the liability of the seller in the event of claims of rights to land plots by third parties.

The buyer, if the seller knowingly provides him with false information about the encumbrances of the land plot and restrictions on its use in accordance with the permitted use; on permission to develop this land plot; on the use of neighboring land plots, which has a significant impact on the use and value of the land plot being sold; about the quality properties of the land that may affect the buyer’s planned use and cost of the land plot being sold; other information that may influence the buyer’s decision to purchase this land plot and the requirements for the provision of which are established by federal laws, the buyer has the right to demand a reduction in the purchase price or termination of the contract of sale of the land plot and compensation for losses caused to him.

Donation of land.

Under a gift agreement, one party (donor) transfers or undertakes to transfer ownership of a land plot to the other party (donee) free of charge.

If there is a counter transfer of a thing or right or a counter obligation, the contract is not recognized as a donation. The rules applicable to imaginary, feigned transactions apply to such an agreement.

A promise to transfer a plot of land to someone free of charge is recognized as a gift agreement and binds the promisee if the promise is made in the proper form and contains a clearly expressed intention to transfer the plot free of charge in the future.

A promise to donate all of one’s property or part of one’s entire property without indicating the specific object of the gift – a plot of land – is void. An agreement providing for the transfer of a gift to the donee after the death of the donor is void.

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