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Property law (Real estate)

The market of economy in Armenia was established along with the Independence of RA. The property right was limited in the former regime, the Property law belonged to the State, and as a result of this, there weren’t significant risks for people from the legal point of view.  The privatization of land started in 1991 which followed the privatization of houses, and in this way the formation of real estate market was done.

 

Along with the formation of real estate market in RA legal protection of property issues resulted in the processes of alienation (sales, donation), pledge, lease and other methods of property management, ownership and usage.  Inevitably arose the issues of protection of owners’ and other holders’ rights, avoidance of abusing persons’ rights, insurance of people from false transactions.

 

The proper definition of rights concerning the real estate, the parties’ competency and definition of authorizations up to the implementation of transactions, the inspection of bases of rights towards the real estate /real estatelegal audit – due diligence/ have become imperative in the processes of property management, ownership and usage in order to avoid possible violations, abuses, legal and other risks. The following ways are the most common nowadays: the real estate transactions signed with false power of attorney, by testamentary or with the evidence of illegal adoption of inheritance formulated in the real estate transactions, disputed transactions related to the absence of agreements between the joint owners, etc. The moment of payment for the property is also important: it’s not safe for the buyer to make the payment before the formation of the transaction, the same is for the seller to receive the payment after the transaction, and it is not always possible or convenient to perform this action at the moment of transaction.

 

The services in the field of Property law are one of the main directions of Concern-Dialog CJSC. From the very beginning of its activities the Company has been engaged in the legal defense of issues of natural persons’ and legal entities’ Property law and has achieved skills in solving problems of formulations in administrative bodies, as well as clear definition of powers of the parties, contract formations. The Company has also achieved the skills of using ESCROW mechanism which ensures the payments of transactions performed with the real estate, letter of credits (documentary credits), as well as applies the PD-Karpa mechanism of the Chamber of Advocates of RA.

  

Since 2002 the Company has also been specialized in specific issues of real estate acquisition, lease and pledge. The needs of legal entities towards real estate are significantly different from the natural persons’ needs, though their needs and problems have some similarity from the first sight. The legal risks also differ in their nature. Real estate including buildings, lands, and offices is considered as important basic means for business and business development, but the real estate itself is the main object of business in construction (development).  As a result, when the natural persons rent a real estate, they prefer more moderate resolutions concerning the early dissolving of the contract (anticipatory repudiation), but for many companies the early dissolving of the lease contract can cause significant financial and economic losses related to the disconnection and transfer of equipments.

  

Our company's experience in the market showed that the manufacturing and office space rental destination is a separate institution in essence, and contains many special legal risks.

We are ready to offer our clients (natural persons and legal entities) our legal assistance in the field of real estate, to provide complex legal support, to solve the arising problems effectively and in short terms, as well as to keep them away from possible problems in future.

 

We offer the following services in the field of Property law:

For natural persons:

  • Legal consultancy on real estate issues at any stage of the transaction;
  • Forming of packages for real estate alienation, acquisition, lease, pledge and other transactions, legal assistance in formation of transactions, representation in notary office and in the State committee of real estate Cadastre;
  • Formulation and implementation of special mechanisms ensuring the safety of transactions of real estate: ESCROW, letter of credits, PD-Karpa system of the Chamber of Advocates of RA, etc.;
  • Representation in administrative and judicial bodies in case of disputes of real estate;
  • Legal due diligence of real estate in order to clarify the legal risks related to that real estate, including presence of invalid and void transactions in the past as a result of which considerable material losses are possible.

 

For legal entities:

  • All the services provided to natural persons in the field of real estate;
  • Participation in preliminary negotiations of the leasing contracts for offices and industrial areas, preparing of contracts in Armenian in parallel with English, French, Russian, German and Persian languages in case of necessity;
  • Legal assistance of transactions in leasing (renting) of offices and other areas, mortgage and other property law, preparation of package and services of formation of transactions;
  • Legal consultancy concerning servitude of anybody’s property, representation including;
  • Real estate due diligence.

 

Our lawyers’ and attorneys’ experience as well as their prompt response towards new requirements of legislation ensures Concern-Dialog Law firm’s ability to provide high quality legal assistance to its clients.