Article 17. Transfer of a share in an apartment building or a complex of individual residential buildings The Law on Equity Participation in Housing Construction

Home / Laws / Article 17. Transfer of a share in an apartment building or a complex of individual residential buildings The Law on Equity Participation in Housing Construction

1. The authorized company is obliged to transfer to the shareholder and (or) the shareholder, as part of the renovation, their (his) share in the constructed multi-apartment residential building or a complex of individual residential buildings no later than the deadline stipulated by the agreement on equity participation in housing construction and (or) the agreement on equity participation in housing construction as part of the renovation.

2. The transfer to the shareholder and (or) the shareholder as part of the renovation of their (his) share in an apartment building or a complex of individual residential buildings is carried out by an authorized company after signing the acceptance certificate of the built apartment building into operation.

3. After signing the act of acceptance of the constructed multi-apartment residential building or a complex of individual residential buildings for operation, the authorized company has the right to prematurely fulfill its obligations to transfer shares in an apartment building or a complex of individual residential buildings to shareholders and shareholders as part of the renovation.

4. The authorized company is obliged to send a letter to the shareholder and (or) the shareholder as part of the renovation about the completion of the construction of an apartment building or a complex of individual residential buildings in accordance with the agreements on equity participation in housing construction and (or) equity participation in housing construction as part of the renovation and about the readiness of the share for transfer, as well as to warn the shareholder and (or) the shareholder in the framework of the renovation on the need to accept a share and on the consequences of the shareholder's inaction provided for in the agreement on equity participation in housing construction. The letter must be sent by registered mail with a notification of receipt by the recipient of the postal item or delivered to the shareholder personally against receipt.

5. An equity holder and (or) an equity holder within the framework of renovation, who has received a written notification from an authorized company about the completion of construction of an apartment building or a complex of individual residential buildings and the readiness of a share in an apartment building or a complex of individual residential buildings for transfer, must proceed to its acceptance in accordance with the agreement on equity participation in housing construction and (or) the agreement equity participation in housing construction within the renovation period or, if no such period has been established, within ten working days from the date of receipt of the specified notification.

6. The shareholder and (or) the shareholder in the framework of the renovation, who discovered during the acceptance of the work results deviations in it from the design and estimate documentation, the agreement on equity participation in housing construction and (or) the agreement on equity participation in housing construction within the framework of the renovation, have the right to demand from the authorized company within the time period agreed by the parties to eliminate the identified deficiencies..

7. When registering rights to immovable property that have arisen on the basis of an act of acceptance of an apartment building or a complex of individual residential buildings for operation, information on the registration of a pledge of a share in the unified digital system of equity participation in housing construction is transmitted through integration into the unified state cadastre of registered rights (encumbrances of rights) to immovable property for subsequent registration of encumbrances rights to immovable property.

The Law of the Republic of Kazakhstan dated April 7, 2016 No. 486-V SAM.

This Law regulates public relations related to the activities of equity participation in the housing construction of multi-family residential buildings by attracting money from individuals and (or) legal entities, and also establishes guarantees for the protection of the rights and legitimate interests of the parties to the agreement on equity participation in housing construction.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases