The procedure for exchanging an apartment for a house

It happens that after living in an apartment for a long time, a person has a great desire to move into a private house. Or maybe the whole family just decided to move out of town because of the clean air and silence. Of course, you can buy a house, but not everyone has extra money, and why would you need an empty apartment? In such a situation, the best option would be to exchange an apartment for a house. In this article we will look at the procedure for exchanging an apartment for a private house.

The process of exchanging an apartment for a house

Any exchange of real estate must be formalized by an appropriate agreement. An exchange agreement is a prototype of a purchase and sale agreement, only in it both parties are considered both sellers and buyers. Real estate exchange transactions are strictly registered in Rosreestr and only after that are recognized as valid.

The exchange agreement must consist of mandatory information about real estate objects. In particular, the following information is entered about the apartment: address, number of rooms, total and living area, name and contacts of the owners, and other data. Particular attention is paid to children registered in the apartment; they will be discharged only if the new living conditions are no worse than the previous ones. In any case, if there are children, all real estate transactions do not take place without the participation of guardianship authorities.

As for the house, the contract contains data similar to the apartment. At the same time, the land plot passes into ownership along with the house, so all registration data relating to the land must be described: cadastral number, area, auxiliary buildings and others.

Both real estate objects participating in the exchange are subject to mandatory assessment by a specialized organization. Valuation is possible both at cadastral value and at market value. If a significant difference in cost is established, the contract may provide for an additional payment.

Transfer deeds must be drawn up along with the exchange agreement, containing information about the technical condition of the property at the time of its transfer. Acts are drawn up for both parties. In this case, a single act is drawn up for the house and the land plot.

Registration of an exchange agreement

An agreement for the exchange of real estate objects must be registered with the Registration Chamber at the location of these objects. If they are located in different areas, then according to the location of the apartment or house. Only in this case the registration process will be slightly longer. But it’s still better to wait than to move between two divisions of Rosreestr.

In conclusion, it remains to be noted that the benefit of the exchange agreement is the absence of taxation on real estate. The only exception is a possible surcharge on which you will have to pay income tax.

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