How To Buy A Land Share

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How To Buy A Land Share
How To Buy A Land Share

Video: How To Buy A Land Share

Video: How To Buy A Land Share
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Land, which is positioned as a real estate object, must be formalized in accordance with the legal norms of legislation. It can be sold, pledged, leased, etc. Consultations on the purchase of land shares, their transfer from shared ownership to private ownership should be carried out by professional lawyers.

How to buy a land share
How to buy a land share

Instructions

Step 1

Acquire a land share by issuing a general power of attorney directly from the owner of the agreed shared ownership. Have the power of attorney certified by a notary. Provide a maximum of 3 years with the right of substitution as a precautionary measure. Make two copies of the power of attorney for all land share powers.

Step 2

Make a will to reduce the risk. So you will receive all the rights to the land share and will be able to dispose of it according to your personal need.

Step 3

Advertise in the local press that a common ownership meeting is being held. Submit the agenda: determination of the location of the land plot allocated from the available land of the agricultural enterprise.

Step 4

During the meeting, agree with the participants in the shared ownership of the selected position of your land plot. Within a month after the meeting, take a copy of the minutes of the meeting attended by the participants in the shared ownership. The protocol determines the position of your share on the ground and your right to allocate it.

Step 5

Now contact your geodetic company. Let the experts measure your site to get a cadastral passport. At this stage, you may encounter certain difficulties. Land is characterized by “value in ballohectares” depending on the economic value of agricultural production. Thus, arable land is highly valued, while hayfields are of low value. As a result, the lower the ballohectarity, the more hectares of land you can allocate in comparison with the declared area in the land share. On the contrary, with an increase in ballohectarity, less land is allocated in comparison with the declared area in the land share.

Step 6

Collect: power of attorney for the disposal of the land share, a copy of the meeting minutes, your land file and a new cadastral passport. Now move on to the next step: submit your registration documents to receive your title deed. If you are the owner, then the purchase can be considered complete, you received a document that determines your ownership of the land share, otherwise it remains to issue the assignment of rights.

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