Buying a land for construction purposes is a matter that requires responsible preparation, analyzing many aspects and forecasting to prevent conceivable incidents. It is important to use your resources rationally and initially focus on the basic algorithm of actions.
The approach should be comprehensive and include both the analysis of the legal status of the land plot and the analysis of the town-planning situation, which includes the study of town-planning documentation for this site, familiarization with the actual development.
According to the first, legal block, the goal is to establish the existence and legitimacy of right stating documents to the land, the “purity” of its legal history (starting with the formation of the land plot, the grounds and procedure for giving it into ownership and ending with the entire chain of owners and the presence of relevant litigations), the seller on his assignation, as well as the associated legal risks.
The second, urban planning block, provides for the receipt of information and its assessment on the following issues:
- the availability of the necessary urban planning documentation (master plan of the city, comprehensive plan of the city, zoning) and compliance with the functional purpose of the site for its intended purpose defined in it in accordance with the documents of title;
- the presence of urban planning and other restrictions on the development of the land plot (altitude, sanitary protection, water protection, riparian protection and other protection zones, cultural heritage protection zones, etc.);
- the availability of real estate objects, including unfinished construction, on the land plot itself, the surrounding actual development, the possibility of utilities and the ability to connect to them.
Evaluation of the above factors will make it possible to determine whether the buyer will be able to realize his urban planning intentions (to build on this site, what he wants) and what costs this may entail, except building itself.
You should also take into account the risk of a situation when land is taken away from new owners, due to the fact that the land was allocated to the previous owners with violations. However, you can also insure against this.
A thorough professional legal audit of the land plot and its right stating documents will make it possible not only to identify the risks of such situation, but also to determine the possibility of addressing them and protecting the rights and interests of the owners.