Many years of experience and the results of the survey show that the inhabitants of Latvia lack not only knowledge in the legal field, but also an understanding of the fact who can help them.
The most common mistakes that people make are to use samples of contracts downloaded from the Internet that are not appropriate for a particular situation, as well as attempts to rely on the experience of friends or relatives.
Their desire to save on legal consultations is clear, but real estate transactions are just where you can very easily make a fatal mistake. After all, it is not the sphere with which we all come across every day and we do not have so much experience and knowledge. It is in contracts, for unfamiliar terms and cunning speech turns, that trickery tricks are often hidden.
Each situation needs its contract
Very often people use contract templates from the Internet to make deals. Therefore, quite often the content of the contract does not correspond to what the parties have agreed upon. The important terms of the contract are not specified here, the object of the transaction itself is erroneously indicated, the order of settlements is not specified, as well as specific obligations that the parties actually took upon themselves. ”
Terminological clarity of the contract
Residents do not want, cannot read carefully the text or do not consider it necessary to understand the content of the document. The ability to read the documentation of various transactions is poorly developed even for legally educated people who rely on the professionalism of the developers of documents and decide not to delve into the voluminous legal text. Sometimes, re-reading the draft agreement, they do not even notice mistakes in their personal data, account number, interest calculation, transaction procedure and other important information, “says Sandra Stipniece.
However, just reading the documents and checking your data is also not enough – you need to delve into the text, understand the terminology and terms of the contract. “The legal language is specific and contains complex terms, so it is especially important to involve a professional who will help not only to identify shortcomings in the document, but also to remove the pitfalls possible during the transaction. So, for example, legal documents often confuse movable property with immovable, pledge with an advance, the right of simple use with the apartment right, as well as other terms, ” says a sworn notary.
Such surprises as “a cat in a poke”
An inadequate attitude towards the legal side of the transaction can sometimes lead, for example, to the fact that, a person bought not the apartment, but the right to lease it. Also the new owners can learn about the various bans and burdens on the newly acquired land, when the transaction has already taken place. It may happen that together with the newly purchased apartment they can inherit tenants who have a lease of the premises that is still valid for several years, and the new owner must respect it.
Before signing the contract, the sworn notary Sandra Stipniece recommends:
- Consult a notary;
- Carefully read any document relevant to the transaction;
- Feel free to ask questions and not rely solely on human integrity;
- In writing, record everything agreed upon by the parties;
- Do not use samples of contracts available on the Internet, without adapting them to a specific situation;
- To provide for the right to derogate from the agreement unilaterally, if the planned consequences or result do not occur;
- Use non-cash settlements. It is recommended to use the opportunity to transfer money for purchase to the notary;
- Listen to intuition and not engage in a transaction in which every nuance is not clear and understandable;
- Check the information included in the contract – personal data, property addresses, cadastral number, etc.
- Check the information in the relevant registers – for example, compare the data of the State Land Service with the information in the Land Register;
- Evaluate the advantages and reliability of the notarial deed in comparison with the contract prepared privately;
- Never rely on the experience of neighbors or acquaintances – each transaction is unique;
- Do not sign the contract if any term or condition is not understood and explained
