Article 49. Acquisition of rights to state-owned land plots when they are sold in installments of the Land Code of the Republic of Kazakhstan
1. A state-owned land plot is sold in installments for a period of up to ten years upon a written request from the buyer by concluding a purchase and sale agreement.
2. The buyer must make an advance payment of at least five percent of the value of the land plot within ten working days from the date of conclusion of the purchase agreement. Subsequently, the payment for the land plot is made by the buyer on a monthly basis according to the payment schedule, which is attached to the purchase agreement and is an integral part of it. Payment for a land plot can be made either in cash or by wire transfer to the seller's account specified in the purchase agreement.
The buyer has the right to repay his obligations ahead of schedule, both in full and in part. In case of partial repayment of obligations, the payment schedule must be re-approved.
3. In case of delay in the monthly payment for the land plot, the buyer pays the seller a penalty in the amount of 0.1 percent for each day of delay from the unpaid purchase price of the land plot.
If the buyer does not make payment for the land plot for three consecutive months, and for the land plot intended for agricultural purposes for two consecutive years, the seller has the right to terminate the purchase agreement and demand the return of the sold land plot, except in cases where the amount of payments received from the buyer, exceeds half of the purchase price of the land plot.
4. With respect to a land plot sold in installments, it is prohibited to make transactions until full payment of its purchase price, except for the transfer of collateral.
RCPI's note! The second part of paragraph 4 is provided to be deleted by the Law of the Republic of Kazakhstan dated 02.11.2015 No. 389-V (suspended until 31.12.2026).
The right to make transactions with a land plot sold in installments at a discounted price is allowed after the expiration of the restriction period on making transactions with a land plot provided for in paragraph 3 of Article 24 of this Code and calculated from the moment after full payment of its purchase price.
5. The pledge of a land plot sold by the buyer in installments is allowed upon payment of at least fifty percent of its purchase price. In this case, only that part of the land plot for which the purchase price has been paid can be the subject of the pledge.
6. Restrictions on transactions with a land plot sold in installments are reflected in the purchase and sale agreement and in the identification document for the land plot. The document on payment of the purchase price of the land plot is the basis for removing this restriction in the purchase agreement and the identification document for the land plot.
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