Who needs a sample deposit agreement when buying a land plot? Participants in the upcoming transactions seek to guarantee their own security and minimize the risks of losing money. What to look for when compiling it?
Why is it needed
The legislation provides for two situations of its application:
- the buyer does not have the full amount in his hands, but soon he will have it (get a loan, sell something from his property);
- the seller does not have all the documents for conducting the transaction, and there is time before receiving them.
The deposit agreement upon the purchase of a land plot places obligations on both parties upon its signing. The agreement will temporarily consolidate relations between the parties. Life shows that the expectation should not be excessive. Ordinary citizens try to conduct real estate transactions as quickly as possible: no one wants to connect themselves with banks, people are constantly pressured by the fear of another crisis that will depreciate money, etc.
If the document is not drawn up
The party that transferred the money is at great risk. There is no document, which means there is no evidence of the transfer of money and the existence of obligations between the parties. Those who find it difficult to draw up a full agreement use the receipt as an alternative to the deposit agreement.
The law is strict. The absence of a document in a trial cannot be replaced either by one’s own explanations or witness statements.
A sample deposit agreement on the purchase of a land plot, as well as receipts, can be found in the special literature. To people who are not sophisticated in jurisprudence, it is quite possible, using samples, to prepare papers for themselves.
What the deposit law says
GK distinguishes two of its functions:
- repayment of part of the debt to the seller of property;
- guarantee the conclusion of an agreement in the future and ensuring its implementation.
Agreement form
How to make a deposit when buying a land plot? The law does not say anything about the form and clauses of the agreement. It is enough to print it on paper and put a signature. If the land purchase transaction is prepared by a notary public, the transfer of the deposit is also certified by him.
In practice, the deposit agreement for the purchase of the land and the preliminary contract are mixed. A preliminary agreement is an agreement on the conditions of a future transaction, at the expense of which a deposit is paid. The deposit represents the payment of money in advance.
Document structure
- Name of the settlement where the transaction is made.
- Date of preparation.
- Main text.
- Signatures of the parties with full decoding (it is strongly recommended to enter information from passports).
The last paragraph of the samples of the deposit agreement on the purchase of the land is mentioned, but not all.
The law does not prohibit specifying witnesses of transfer of deposit by entering their passport details.
What they write in the main text
- Information about the site - a cadastral passport is quite enough.
- What date is the conclusion of the main agreement.
- Other conditions that the parties to the agreement wish to include.
- The size of the deposit and the rest of the amount (the amounts are written in words and numbers).
- Refund terms.
People make a mistake when they write, “transfer”, and not “transfer” money.
In the samples of the deposit agreement when buying a land plot, the latter is overlooked.
How to verify the integrity of the second party
When signing the agreement, the following are used:
- passport or other identity document (used in the case of foreigners or citizens who have lost a passport and received temporary documents in return);
- certificate of ownership or extract from the register of rights;
- cadastral passport;
- information on capital buildings on the land plot (cadastral or technical passport and documents confirming ownership).
The presence of the original documents allows the buyer to make sure that he is not a fraudster.
Inattention price
A mistake in writing a statement or other similar document is considered habitual; here, a flaw even with writing one digit is expensive - a document can be recognized as having no force or meaning from the point of view of the law.
For example, full name indicated in full, but there is no passport data, there is no complete data on the address of the site, cadastral number. The number, by the way, can become outdated for a number of reasons.
A cause for concern is capital construction without permission. Before making the main transaction, it is advisable to first legalize the structure. Otherwise, then the new owner will encounter difficulties.
Paper that does not fully comply with the requirements of the deposit agreement is recognized as an advance agreement.
Consequences of Failure
The law provides for several options:
- the deposit is returned if it is impossible to fulfill the obligations, or the parties, by mutual agreement, refused the transaction;
- if the party that transferred the deposit is guilty of the termination of the obligation, it remains with the injured party;
- if the party that took the deposit is guilty, then he shall be returned in double size.
The injured party also has the right to demand compensation for losses due to the disruption of the transaction.
Finally
Where can I find a deposit agreement when buying a land? A sample or form is easy to find in specialist literature. Unfortunately, not each of them takes into account the needs of participants in the transaction. It is suggested that it is better to contact a notary public. Especially if in the future the transaction is still drawn up with its participation, by the will of the parties or by force of law. Someone does the work of a lawyer or attorney practicing in the application of land law.