Real estate transaction support
What we do
- In the primary market
- In the secondary market
- Acquisition of land plots
Ancillary services:
- Consultations on transaction taxation and property rights
- Short-term and investment residency permits
- Property maintenance services
- Acquisition of land through privatization (from the formation of the land plot to the conclusion of the sale and purchase agreement)
- Purchase of real estate at auctions (acquisition of seized property in enforcement proceedings)
- Acquisition of cultural heritage objects
- Acquisition of property with bank mortgage involvement
- Termination of lease and sale agreements
- Compelling performance of obligations under the sale and purchase agreement
- Recovery of damages and penalty sanctions for breach of obligations by the Developer (construction deadlines, quality of construction)
- Recovery of property from unlawful possession
- Establishment and removal of encumbrances
Acquiring real estate in Georgia carries risks such as incorrect document processing and hidden third-party rights.
Collaborating with our law firm guarantees safety and transparency in your transaction due to our experience with international clients and deep knowledge of Georgian legislation.
Turn to us for qualified legal assistance and confidence in the real estate acquisition process in Georgia.
Our goal is to make your transaction efficient and secure, freeing you from unnecessary worries.
1. Developer Company Check:
— General information about the Company:
— Information about completed real estate properties
— Information about the Company's financial stability
— Other essential information about the Company
2. Object Check:
— Assessment of land ownership rights where construction is taking place
— Evaluation of permitting documentation, including approved projects and construction permits
— Checking for encumbrances or legal claims on the property
3. Analysis of contracts offered to the Buyer:
— Reviewing contracts for compliance with Georgian legislation
— Evaluating contract terms to ensure they align with the Buyer's interests
— Coordinating mortgage contracts with the Bank
4. Assessment of Buyer's tax obligations related to acquisition, ownership, management, and sale of the property
5. Signing contracts and registering the transaction in the Public Register based on power of attorney
Service period: 5-10 working days (depending on document availability)
1. Seller Check:
— Checking if the Seller is listed as a debtor
— Determining the presence of co-owners
— Assessing age (whether court consent is required for the transaction)
— Checking marital status (whether spouse consent is required for the transaction)
2. Object Check:
— Correspondence of data about the property in the Public Registry to the actual information
— Basis for acquiring rights to the property
— Existence of encumbrances on the property
— Presence of special status of the property (cultural or historical heritage object)
3. Conclusion of the transaction:
— Structuring the transaction taking into account the encumbrances on the property and agreements between the parties
— Preparation of contracts, coordination of contracts with the Seller
— Coordination of mortgage contracts with the bank
— Accompanying the conclusion of contracts in the Public Registry of Georgia
— Transfer of meters (electricity, gas, water, internet) to the Buyer
4. Assessment of Buyer's tax obligations related to acquisition, ownership, management, and sale of the property.
Service period: 5-10 working days (depending on document availability).
1. Legal verification of the land plot, including:
— Legitimacy of acquisition,
— Compliance of the land plot in nature with the cadastral plan of the land plot
— Existence/absence of encumbrances and legal claims,
— Location of the land plot in special zones (recreational, coastal, etc.),
— Availability/absence of utilities (gas supply, wastewater disposal, electricity, sewerage), accessibility/ passage possibilities,
— Possibilities of land plot usage according to the Client's requirements,
— Possibilities of utility connections, including preliminary assessment of time and financial costs.
2. Legal check of the Seller, including:
— Seller's presence in the debtors' register,
— Existence of co-owners,
— Age (requirement of court approval for the transaction),
— Marital status (requirement of spouse consent for the transaction).
3. Assessment of tax implications of the land acquisition transaction for the Buyer and Seller (individual or legal entity), as well as Buyer's tax obligations related to the acquisition and use of the land in accordance with the Buyer's specifications.
4. Structuring and legal support of land acquisition transactions, including:
— Structuring and legal support of land acquisition transactions designated for agricultural use involving foreign citizens.
— Legal support for all land-related operations in the Public Registry.
JUST Advisors experts' results
Assisting in the purchase of real estate in the historical center of Tbilisi
A foreign client approached us for assistance in purchasing a non-residential property in the historical center of Tbilisi. During the property verification stage, we discovered that the premises the client was interested in is a cultural heritage site and is subject to special preservation restrictions.
We conducted thorough research and found that the previous owner had carried out renovations without the necessary approvals. This could pose serious risks for our client in the future, as the fines for such violations are substantial and borne by the property owner. Thanks to our timely document review, we were able to guide the client and protect their interests by securing the seller's responsibility in the contract and obtaining architect endorsements for potential inspections.
We successfully negotiated a bank loan for the property purchase, despite the property being under collateral with the bank due to the seller's obligations and related parties at the time of the transaction. By structuring the deal considering all the intricacies and risks, we ensured the safety of our client's interests.
The payment process occurred in several stages, and payments were made from abroad. Our company efficiently managed all financial aspects of the transaction, ensuring transparency and security in the operations.
Currently, the property ownership rights are registered, and our client can confidently conduct business activities in the acquired property without concerns about legal violations.
Supporting a real estate transaction for the purchase of an apartment in Batumi
An international client approached us with a desire to purchase an apartment in Batumi. The transaction proceeded through the signing of a preliminary purchase agreement remotely, without the client being present in Georgia.
We conducted a thorough analysis of the developer and all their projects, ensuring their good reputation, absence of tax obligations, and no issues with government authorities. We also verified the legal cleanliness of the land on which the property was located and checked the initial permitting documentation.
Although the land was pledged to a bank, this did not hinder the registration of the preliminary purchase agreement in the public registry. While analyzing the contract, we also found significant discrepancies between the Georgian and Russian versions of the contract, which misled our client, who only understood the contract in Russian. We carefully examined the essential terms of the contract: the construction and completion deadlines, the developer's rights to modify the project, and adjusted them to ensure they did not diminish the client's interests, the quality of the apartments upon delivery, as well as the penalties that the Buyer could claim in case of construction delays or delivery of a subpar property.
Additionally, we examined the additional obligations of the Developer regarding post-construction management of the property and the Buyer's option to terminate the management agreement in case of its interests being violated. We were able to negotiate changes with the developer that improved the contract terms for the buyer.
The transaction was completed considering all legal formalities and registered in the public registry based on a power of attorney. We also provided the Buyer with consultations regarding tax obligations related to the acquisition and management of real estate.
Reviews
Leading Manager of Commercial Department
