How to conclude a real estate swap agreement – instructions
In practice, an exchange contract is not as popular a type of transaction as a purchase and sale contract or a donation contract. Therefore, the purpose of this article is to reveal all the nuances of concluding this contract, to reveal its positive aspects, to highlight the list of documents and the pricing policy for notary services, taxes, and other payments.
My contract carries a lot of risks, therefore we recommend Check the Legal Purity of the Real Estate before executing the transaction and use the Services of a Lawyer for Real estate.
After that, you can use Services of a Notary for Contract Certification Menus.
Thus, in the exchange agreement, real estate is exchanged between two parties who have the right to own it.
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The exchange contract can be concluded with or without additional payment of cash.
Let's consider as an example the Agreement for the exchange of apartments - APARTMENT No. 1 for APARTMENT No. 2.
Moreover, the ownership of APARTMENT No. 1 was registered (the apartment was purchased) until 2013, i.e. APARTMENT No. 1 is registered in the relevant Bureau of Technical Inventory and has been owned by the owner for more than three years.
The ownership of APARTMENT No. 2 was registered (the apartment was purchased) in 2015. That. APARTMENT No. 2 is registered in the State Register of Property Rights and has been owned by the owner for less than three years.
If you want to get the support of a qualified lawyer when concluding a contract - contact us.
List of documents for concluding a foreign exchange contract
(this list contains the main documents, and it can be supplemented with other documents, depending on the documents and the situation of the owners):
- passports and tax numbers of the owners of both apartments
- passports and tax numbers of the spouses of the owners of the apartments (or consent to conclude a contract of exchange, notarized), certificates of divorce of both parties
-certificate from the housing and operating organization of form No. 3 (certificate on the composition of the family), certificate of the local self-government body (rural, village council) or Domovaya kniga for both apartments
-documents confirming the right of ownership and the right of state registration for both apartments
-technical passport for both apartments
-estimation performed by the Subject of evaluation activity (Important know! The validity of the assessment is 6 months from the date of preparation of the assessment indicated in the report (conclusion) for each of the apartments
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The price (cost) of concluding an exchange contract and the State registration of the ownership rights of apartment owners.
- The advantage of the apartment exchange agreement is that, unlike the purchase and sale agreement, 1% is NOT PAYABLE to the pension fund.
- Payment of state duty 1% only from the cost of the apartment. It is important to know! If two sales contracts were concluded instead of the exchange contract, the parties would pay 1% of the state tax and 1% of the pension tax (total of 4%) for each contract. According to the currency exchange contract, it is only 1%!
- Since APARTMENT No. 1 has been owned by the owner for more than 3 years, tax and military duty do not arise here and are therefore NOT PAYABLE!
- Since APARTMENT No. 2 has been owned by the owner for less than 3 years, there is a 5% tax and a military levy of 1.5% of the appraised value of the apartment
- Services of a notary (from practice in Kyiv) about 5000 UAH plus services of the Ministry of Justice about 1200 UAH.
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After the conclusion of the contract and state registration of the parties to the contract, I am officially recognized as the owner of the real estate.
