Upon receipt of a certificate of maternity capital, a person immediately has a lot of questions. Where can I spend it? How to dispose of? How to make a deal?
For most people, this capital is an excellent opportunity to acquire their own real estate, for example, a land plot. But it’s not so simple here, so let's see if it is possible to buy land for maternity capital?
How can I make a purchase?
In this matter, first of all, one needs to rely on the law.
To begin with, it should be said that translating a certificate into cash is prohibited by law. In addition, maternal capital is of two types - federal and regional. The conditions for receiving and spending in both cases are different.
How to use federal maternity capital
The legislation defines the rules for spending maternity capital for housing improvement. According to this document, the answer to the question of whether it is possible to buy land for maternity capital has a negative answer, since several hundred will not be able to make the living conditions of the family better.
Another thing is if you purchase finished housing or intend to build it. Here, according to the law, the following areas are already provided:
- The purchase of an apartment in a low-rise building or in the secondary market.
- Construction or restoration of an old house with the help of contractors or on their own. A plot of land in this case should already be owned.
- Participation in the construction of high-rise buildings (shared).
- Use of maternity capital as a down payment on a mortgage or consumer loan to purchase a home.
It is worth saying that in the latter case, you can spend money at any time. In other words, if you wondered whether it is possible to buy land for maternity capital without waiting for 3 years, then you should use the latter option. We understand further.
Is it possible to buy land for maternity capital for construction
As already described above, it will not work to acquire land itself for capital, but you can use it to build your house. If you decide to use capital for these purposes, then you should do this in how many steps:
- First you need to purchase, arrange for use or lease land.
- Then you can conclude a contract with a contractor who will build your house (if you decide to use their services).
- Contact the FIU with documents and an application for transferring funds. To do this, provide:
- copy of permission for construction work;
- copy of the document on the ownership or use of the site;
- copy of the contract with the contractor;
- the obligation to register ownership of a new house completed by a notary.
If the application is satisfied within two months, the funds will be transferred to the contractor or to your account.
In the second situation, the process is carried out according to a certain scheme:
- First, half the amount is transferred.
- The rest will be transferred only after six months. Moreover, again it will be necessary to contact the pension authority, write a statement and confirm with documents that communications have been made to the site, the foundation has been poured and the walls are built.
When deciding whether it is possible to buy land for maternity capital 2015, it is necessary to pay attention to the fact that when building a house it can be used only after the child is three years old.
But due to this money it will be possible to compensate for the money already spent on construction.This right appears only when the child reaches the age of three. To use it in the FIU, a copy of the document on the ownership of land and home, a copy of the bank account details, as well as a notarized guarantee for the allocated shares for each family member are provided.
How to use regional maternity capital
Some regions have support programs for large families, including a program for providing maternity capital. Is it possible to buy land for maternity capital from the region?
A family that issues a certificate for federal funds has the right to apply for local support. But at the same time several conditions must be met:
- The right to a certificate appears at the birth of a third or subsequent child.
- According to local law, a family must live in a region for a certain number of years.
- The size and timing of spending is also regulated by law.
Some of the entities provide for the possibility of acquiring land using maternity capital. Each region has its own specifics or nuances that need to be clarified in local authorities.
For example, some banks allow the use of regional capital funds when applying for a loan to purchase land with construction in progress. The certificate repays the main debt, and the borrower pays interest.
Such a scheme must necessarily be agreed with the pension fund.
Conclusion
I want to say that today many schemes have been invented for withdrawing funds from maternal capital in illegal ways. It is strictly forbidden to contact such companies, as this provides for criminal liability, which will fall, first of all, on you.