Privatization in Russia plays a huge role. This operation is of interest to the bulk of the population. Today it is available to all citizens of the Russian Federation. Today we have to find out when it is possible to sell an apartment after privatization. Are there any restrictions? What to look for first? What tips and tricks will help to bring the idea to life as correctly as possible? The answers to all these questions will be discovered later. In fact, it’s easier to deal with the peculiarities of selling a privatized apartment than it might seem at first glance.
Privatization is ...
First you have to understand what is called privatization. Not everyone knows what kind of concept we are talking about.
Privatization is the process of transferring state property to private mainly on a free basis. Paid privatization also takes place, but not so often.
Accordingly, after this process, state-owned real estate will become private. In fact, the procedure means providing housing to people.
Right to sell
But is it possible to sell an apartment after privatization? The answer is simple: yes. After completing all the necessary documents, a citizen will be given this or that property as a property. He can dispose of it as he wishes.
Namely:
- to rewrite;
- give (partially or fully);
- alienate;
- put up for sale
- exchange for other property;
- hand over;
- live independently;
- use as collateral.
In other words, a person is vested with the rights to own, use and dispose of property. Therefore, you can sell privatized real estate without much difficulty. It is enough to remember a few recommendations that can help in translating ideas into reality.
Right after
Is it possible to sell an apartment immediately after privatization? The answer to this question is easier than it sounds.
Immediately after the registration of state real estate in private ownership, it is allowed to conduct sales transactions. But in practice, they are not too common. Indeed, any sale of property is a difficult process. While the documents on real estate rights are not ready, a citizen does not have the right to put up an apartment / house / cottage for sale.
But as soon as the relevant papers are ready, you can begin to implement the task. When is it permitted to exhibit real estate for sale? As soon as a person has in his hands an extract from the Unified State Register about the rights to a particular object. Up to this point, citizens do not have the opportunity to legally conduct sales.
Taxes
When can I sell an apartment after privatization? Often a similar issue is related to tax obligations of the population.
In Russia, according to the law, it is necessary to pay tax when selling property. Today it is 13%. Accordingly, if an apartment or a house is drawn up under a sales contract, it is necessary to pay the state. Such a scenario does not please everyone. After all, sometimes after a tax deduction, a transaction can be considered unprofitable.
After privatizing an apartment, when can I sell it? In some moment. But in order not to pay the statutory tax, you have to wait a bit. Therefore, there is no need to rush into the transaction. Otherwise, it is recommended to put the property up for sale at any time, and then pay income tax for the operation.
Old property
Now a little about what restrictions on tax fees exist in Russia. When can I sell an apartment after privatization so as not to pay a legitimate 13% of the value of the property?
The answer directly depends on when exactly the object was privatized. Let's start with the most common situation today - getting property into ownership until 2016.
If citizens privatized the apartment before January 1, 2016, they can sell the property at any time. But it is important to understand that the population is exempted from paying taxes if the property has been with the owners for more than three years.
What does it mean? When can I sell an apartment after privatization? It is recommended that such transactions be carried out 3 years after the re-registration of real estate into private property. But this rule is relevant only for those who purchased housing before 2016.
New property
And what if the citizen privatized the apartment after the specified date? What restrictions will he face?
Selling an apartment after privatization after January 1, 2016 requires a longer wait for tax exemption. According to the established rules, income tax is not levied after the property is owned for at least 5 years.
Thus, if a person privatized an apartment in 2016, then he will be able to sell it and receive all the money for the transaction only in 2021. Similar rules apply in Russia today.
Transaction Features
In fact, there is nothing special about the topic being studied. Any law-abiding citizen will be able to translate the idea of selling privatized housing into life without much work. The main thing is to remember the features of such an operation.
It is clear when you can sell an apartment after privatization. As has already been emphasized, a citizen acquires the right to conduct a transaction immediately after the registration of real estate in ownership. And if you wait 3 or 5 years, you can free yourself from paying income tax.
Nevertheless, citizens should be aware of some features. Which ones? Lawyers note the following nuances of the sale of privatized property:
- Transactions between close relatives do not allow the population to receive tax deductions. Their design is considered illegal.
- When selling property to relatives close to the tax authorities are particularly interested in the transaction. In some cases, the amount of tax may be increased. This is possible if the price of the apartment in the contract is less than the cadastral value.
- If the apartment of the spouses is for sale, it automatically becomes jointly acquired. At the same time, it does not matter to whom exactly the housing is registered.
The studied procedure has no more significant features. From the foregoing, it follows that in the near future, a new housing fund can only be sold with the subsequent payment of tax after the sale and purchase transaction.
How to sell
In the rest, the process under study is no different from similar actions with non-privatized housing. This means that you can sell an apartment:
- in the home;
- through real estate agencies.
The second scenario is more common. The term of the sale of an apartment after privatization will depend on the actions of the seller and the agency. It should be noted that such a process requires considerable time. Buying and selling real estate is a rather long operation. In the best case, it will be possible to sell an apartment in a month, in the worst - in a few years.
What to look for
Lawyers recommend paying attention to several very important nuances when conducting the transaction under study. Selling an apartment after privatization is always a risk. Buyers and sellers may encounter scammers. To prevent this from happening, you must carefully consider the transaction.
More precisely, it is recommended to pay attention to the following features:
- The operation is executed strictly according to the established legislation. This means that the contract of sale is mandatory registered with the relevant authorities. For example, through a notary public.
- The price should be indicated in the contract real. Otherwise, as already mentioned, the tax authorities may overstate the amount of tax.
- All documents for the apartment will have to be thoroughly checked. The same applies to buyer's papers. The main thing is not to be shy.
Perhaps these are all the nuances that can protect the population from fraudsters. After the privatization of the property, the buyer must have prepared the documents in full. The buyer may require:
- cadastral passport;
- papers showing ownership of the property;
- extract from the personal account of the apartment;
- certificate from BTI;
- information about all registered on the territory of housing.
In addition, an identity card is requested from the seller. The buyer must also present his passport. This is normal practice. It is advisable to exchange copies of identification cards before concluding a transaction.
Summary
From now on, it is clear that you can sell an apartment immediately after privatization. But at the same time, the citizen will have to pay tax in the prescribed amount. If you want to avoid this obligation, you have to wait a bit. The waiting period depends on when exactly the housing was privatized.
The rest of the transaction is no different from the sale of real estate without privatization. Immediately after this process, the owner is ready all the documents for the operation. Therefore, some decide to sell property without exemption from tax.
When can I sell an apartment after privatization? Immediately after receiving the relevant certificate of ownership of the property. Up to this point, all such operations are considered illegal.