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Legal nuances of real estate exchange
The rights and obligations of citizens when making real estate exchange transactions are regulated by Article 31 of the Civil Code of the Russian Federation.
Without going into details, according to the law, one owner transfers his property to another, and he, for his part, provides him with his property. Next, all papers are reissued, and mutual settlements are made if necessary.
There are two types of exchange:
- Equal . When the assessed value of both properties is the same;
- Unequal . When the price of one property is less than another.
In an unequal transaction, both parties agree among themselves on the amount of additional payment for the property. The conditions and procedure for the mutual exchange of property are formalized through an agreement, which is certified by a notary. This ensures that all agreements specified in the agreement are respected.
Where to go?
You can register the fact of the transaction at the notary office.
It is there that they will help you draw up an agreement that corresponds to your transaction, as well as have it certified.
Thus, if one of the parties does not fulfill the terms of the agreement, you will be able to protect your rights in court.
But notarization of the transaction is not mandatory. Many parties refuse such registration due to the high costs of a notary.
You can draw up an agreement without notary intervention, by yourself , by printing forms on the Internet.
How to change an apartment to a house? Main stages of exchange
The law does not provide for any strict rules and procedures for the exchange of real estate. The parties themselves can agree on the procedure for the transaction; they can conduct it in person or remotely. There are no restrictions on the amount of additional payments in case of an unequal exchange - the parties agree on this themselves (only it is necessary to specify the amount of the additional payment in the contract).
The process of exchanging an apartment for a house includes several stages:
Property valuation
Owners are advised to first obtain an independent appraisal of their property.
To do this, you should contact an appraiser. They can professionally assess the current wear and condition of objects, their location, pros and cons, and surrounding infrastructure. Based on the data obtained, the market value of housing is determined.
What documents will owners need?
To conclude an agreement to exchange an apartment for a house (and vice versa), you need to prepare the following package of documents:
- Documents confirming ownership of real estate: certificate, USRN extract, purchase and sale agreement or inheritance or gift agreement;
- Extracts from the BTI and from the passport office;
- Consent (permission) of the husband/wife to complete the transaction and waiver of claims to the property from other residents;
- Cadastral passport;
- Home Book;
- Passport;
- An extract from the housing office (or homeowners' association, management company, SNT) about the absence of debt for utility services;
- Documents for land ownership, cadastral passport;
- The act of surveying a land plot.
All documents must be provided in originals. Next, copies are made of them and certified by a notary.
Subtleties of real estate exchange and pitfalls
From a legal point of view, an exchange agreement differs from a purchase and sale agreement. First of all, when exchanging real estate, both participants simultaneously have the status of Seller and Buyer. But that's not all:
- If the price of each object is not specified in the document, then the exchange is considered equal. (be careful - many owners did not take this point into account and fell into a “trap”);
- The housing becomes the property of another owner only if all clauses of the contract are observed, the deed is signed and the state registration of ownership of both objects is completed in Rosreestr (thus the law “insures” the owners against fraudulent schemes - when one buyer has already received the property, but the second has not yet );
- In addition to signing the Act on the execution of the exchange, the parties also need to sign another Act confirming the execution of the counter transaction if the other party wants to transfer the property later (Article 328 of the Civil Code of the Russian Federation);
- If, according to a court decision, the exchange agreement was executed incorrectly, or the exchange was made without the consent of one of the owners, then such a transaction is declared invalid. And the property is returned to its original owners;
- When making an unequal exchange with an additional payment (which happens quite often when deciding to exchange an apartment for a house), the owner of the house is required to pay income tax of 13% on the profit received. In case of an equivalent exchange, there is no need to pay tax;
- As already mentioned, when the rights to private houses are transferred, the rights to the land plot are automatically transferred. Here it is important for the apartment owner, even before signing the exchange agreement, to check whether the previous owner has violated the laws on the development of plots (according to its category and purpose). Otherwise, there is a risk of losing invested funds and land.
Transaction costs
Unlike ordinary purchase and sale transactions, during real estate exchange transactions, owners incur additional costs:
- If the area of one or both objects is more than 100 square meters. m, then a state duty is charged - 0.5% of the cost of a more expensive object;
- If the object is changed twice in a year, the amount of the duty becomes even higher - and you need to pay up to 2.5% of the cost;
- If the housing area is less than 100 sq. m., and this is the first housing exchange transaction of the year, then you do not need to pay a fee;
- Expenses for notary services;
- Income tax (if the transaction is unequal) - in the amount of 13% of the profit.
All costs of paying fees and notary services are borne by both participants in the process.
Causes
What are the reasons for bartering a private house for an apartment? The first and very significant reason is the desire to exchange a fairly old building for new modern housing in the center. It is possible to exchange a house with an additional payment for a separate room in an apartment building.
How to exchange a cottage for an apartment? Of course, it will not be possible to exchange a newly built cottage for a personal living space in an apartment building of equal footage. It is absolutely obvious that additional payment will be required .
The second reason for such barter is the distance from the city’s infrastructure and transport links. Living in a house means being on the outskirts of the city, where private buildings are located.
However, not everyone can live for a long time remote from civilization. Home owners need to go to work located in the center , children need to go to school and kindergarten. Therefore, the question of exchange arises by itself.
The third reason is financial issue .
Maintaining a house costs much more than even the most ultra-modern separate premises in an apartment building. You will need to take care of your plot, house, and pay higher taxes due to the significantly greater consumption of resources.
Many people, having lived in this spending mode for a long time, want to save money, so they resort to exchange.
Last in the ranking of the most common reasons is loneliness.
People often face the loss of their loved ones; in addition, it happens that they move away, grow up and leave their home.
In this situation, there is absolutely no point in maintaining a large area of housing , since it is in fact empty.
The owners of the house are trying to sell the family home and move to a separate room in an apartment building, where housing costs will be significantly lower.
You can learn about the reasons for exchanging an apartment for a house in our other article.
How to draw up a contract correctly?
A real estate exchange agreement must be drawn up only in writing. It is important to do this correctly, otherwise the agreement will be invalidated and the deal will be cancelled.
The document must indicate the following points:
- Date and place of the transaction;
- Information about the owners - full name, registration address;
- Information about real estate objects participating in the exchange - location, number of floors, entrance number, number of rooms, infrastructure facilities located nearby, etc.;
- Information confirming the ownership of housing;
- The amount of additional payment that must be made by the owner whose property is cheaper;
- Consequences of breaking the deal;
- Force majeure;
- The preferred method of resolving disputes in case of non-compliance with the terms of the agreement by one of the parties (court, arbitration, out-of-court procedure);
- Personal signatures of the parties;
- Signature of the notary certifying the contract.
After signing the agreement, each party receives two notarized copies of the agreement. One of which is subsequently submitted for registration to Rosreestr.
About the opportunity
Is it possible to exchange houses for apartments? Many citizens dream of a private home .
But another category of people can easily give up living in such a building and move to a high-rise building located in the center of the metropolis .
Many people wonder how you can give up the peace and quiet of being away from the bustle of the city?
In fact, people who enter into such transactions pursue other goals and circumstances. A house in a village in exchange for a separate room in an apartment building: what are the reasons?
Realtors compiled a rating of the reasons that entail the procedure for exchanging a house for an apartment and came to the following results.
Find out from our articles about how to exchange old housing for a new building, make a long-distance exchange and forced exchange of housing through the court.
Cases when an exchange transaction may be canceled (not take place)
According to the Civil Code, there are a number of cases when it is impossible to exchange real estate:
- The barter agreement was declared invalid in court;
- One of the owners was sued;
- If a building or living space is considered unsafe, it is demolished;
- If the property has official status or is a dormitory;
- If a participant in the transaction was expelled from the housing cooperative.
If there is at least one of the violations described above, the contract will be declared invalid. And it will be cancelled, and all data in Rosreestr regarding real estate rights will return to the previous owners.
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Where to look for options?
of a real estate office can suggest the most advantageous exchange options .
As a rule, these people already have a long-established client base, and surely some of them will express a desire.
But you can also try to find an opponent under the contract on your own , because the realtor will have to charge money for his efforts.
In order to independently find a person ready to exchange, you need to monitor advertisements on various resources, as well as post your own.
