Due diligence of real estate property
Due diligence of real estate property
In favor of the Client (German company) applied to Corporate Practice Law Firm, legal due diligence of real estate property (land plots) in Russia was conducted before purchasing.
During due diligence the team of Corporate Practice Law Firm examined the constitutional documents of the company, which owned the real estate property being acquired, decisions of collective management bodies. The comprehensive examination of real estate property clarity was made (in order to discover whether there were any rights of third parties to the real estate property, any judicial or administrative proceedings in relation to this real property, whether privatization of the real estate property was made in compliance with the applicable legislation).
Also our team verified the functional designation of land plots, location of the land of the objects, to which land category they were subject to and whether it was permitted to use them in such a way (whether land plots should be reclassified to another category), as well as city-planning restrictions, servitudes and other encumbrances on the land, which may result in restrictions of its use and the construction works thereon.
When legal due diligence was completed, specialists of Corporate Practice Law Firm assisted the Client to conclude an agreement and supported to register the agreement with relevant state authorities. The real estate properties were acquired by the Client and have successfully been used for commercial operations in the territory of the Russian Federation.
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