Rights registration to assets under construction

According to the current legislation of Ukraine, an asset under construction is an asset that can be sold, assigned, pledged, etc. But in order to do this, it is necessary to register the ownership of it.

VigoLex will tell you how and in what order you should register your ownership of an asset under construction.

What does the legislation say?

Until the end of construction, the person is considered the owner of materials, equipment, etc. that were used in the process of this object construction. These materials, equipment, etc. in their aggregate are an asset under construction – an object of construction:

  • for which the building permit was issued;
  • for the construction of which the expenses were incurred;and
  • which is not commissioned in accordance with the legislation.

Therefore, if you have an asset under construction and you want to dispose of it, register the rights to it and boldly sell it.

But how to do this?

How to register the rights to an asset under construction

The whole registration process is quite simple and understandable.

Stage No. 1: Preparation of documents. The legislation provides for several scenarios, depending on the basis on which the ownership of an asset under construction is registered. VigoLex offers a short look at each of them.

Scenario No. 1 – you are the owner of such an asset and register the rights to it. In this case, the following documents must be submitted to register the ownership of an asset under construction:

  • the document that certifies your property right to a land plot for an asset under construction;
  • the document that gives the right to carry out construction works on this plot – again, such a document is not required if it was registered in the Unified State Electronic System in the field of construction;
  • the document that contains a description of an asset under construction based on the results of a technical inventory of such an asset.

The first document may not be submitted if the relevant property right to this land plot has already been registered in the state register of rights to real estate, and the second and the third – if such documents are included in the Unified State Electronic System in the field of construction.

Scenario No. 2 – you decide to privatize an asset under construction. In this case, you need to submit the following documents:

  • the copy of the Order of the State Property Fund of Ukraine on the inclusion of an asset under construction in the list of state property objects that are subject to privatization;
  • the copy of the Order of the body of the State Property Fund of Ukraine on making a decision on the privatization of such an object;
  • the document that contains a description of an asset under construction based on the results of a technical inventory of such an asset.

Scenario No. 3 – you have acquired the rights to an asset under construction under the contract. In this case, for state registration you only need to provide a copy of such a contract.

Stage No. 2: submit documents to the registration authority. To register the ownership of an asset under construction, you need to submit one of the above packages of documents to CNAP and pay the administrative fee – as of the date of the material publication it constitutes 210 UAH.

Stage No. 3: registration of ownership of the object. The registration procedure takes 5 working days. Based on the results of consideration, the information about your ownership of the asset under construction is entered into the State Register of Rights to Real Estate.

VigoLex team will be happy to provide you with legal assistance and help you register the ownership of your asset under construction.

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