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Realization of a share in an apartment in a sharedproperty differs in certain features from the usual sale of real estate. In particular, the owner must make certain preparatory actions that precede the conclusion of the contract of sale and purchase, the transfer of funds, registration of the transfer of ownership. The current civil legislation establishes the duty of the owner of a share to offer other owners of such a property to buy out a share before selling it to third parties. In other words, participants in shared ownership have preferential rights to acquire a stake in such an apartment.

How to properly make a notice on the sale of a share in an apartment?

Notification of the implementation of the share in the apartmentis made in writing, sent to the owners of another share (stakes) in the said real estate at known addresses to the seller. If there are several possible addresses, then it is best to send a notice to each of them. In the notification itself, it is necessary to indicate the implementation of a specific stake in the real estate object, reflect the sale price and other conditions, inform about the preferential right of purchase. Notification is recommended to send a valuable letter with a list of attachments, a notice of delivery. After receiving the notice, the other owners will have thirty days to exercise the preemptive right or waive it.

What to do after sending a notification?

If within thirty days other ownersapartments did not express an intention to purchase a share or refused such a right in writing, then the seller can without any fear to offer real estate to all comers. In finding a buyer, the parties enter into a purchase and sale agreement on agreed terms, determine the payment procedure, register the transfer of ownership of a share in the apartment. To make a transaction before the expiry of the thirty-day period or receipt of a written waiver from other apartment owners should not be, since it can be recognized as invalid in court, which will entail additional costs and difficulties for the seller. The time limit for applying to the judicial authorities in this case is three months from the date of the transaction, and when the claim is satisfied, the buyer's obligations pass to the plaintiff whose preferential right was violated.