Does the apartment bought from bankrupted developer can be charged?

Posted: September 10th, 2013 | Author: | Money

At a time when the real estate industry does not have the big number of companies in the house, the developers simply collapse. These companies are smaller and less well-established in the market.

seier+seier / photo on flickr

seier+seier / photo on flickr

The only question is whether those who bought an apartment and live there may be in any way encumbered by the bankrupt development company when the market collapses? While logic says that this should not happen, because it would be very unfair, however, it depends on the contract. Each contract and rules should be read very carefully from cover to cover.

When our apartment will not be encumbered in any way? When the agreement will include a record of transferred ownership to the buyer and will be free from all kinds of burdens, rights, claims and other interference by third parties. Of course, the best is to use the services of a lawyer to consult various points of agreement and notify us of the risks or lack of it. Most important, however, is that if the contract contains the formula mentioned above, it’s nothing to worry about and no one can charge us without our knowledge.

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