The process of privatization of square meters involves the transfer of housing, initially under state management, to the individual use of a citizen who lives in a given place. This is one of the forms of realizing the right to housing and allows people to become full owners. According to the laws of Ukraine, a citizen has the opportunity to obtain personal ownership of 21 square meters of public housing stock free of charge. In addition, the right to an additional 10 square meters per family is provided. With the help of this article you will understand how the privatization of an apartment occurs.
Basic steps
The first step towards appropriating your square meters is to carefully collect the required documents:
- application for appropriation of housing: this is the main document that indicates the desire to privatize a specific apartment
- documents confirming the identity of participants in the privatization process. As a rule, these are passports and identification numbers
- technical passport for the apartment: has a technical description, its layout. It can be obtained from the Bureau of Technical Inventory
- a document confirming the list of persons officially registered in the house at the beginning of the privatization process
- a certificate establishing your legal right to privatize living space. For example, a social tenancy agreement or other paper confirming your legal stay and the right to privatize a specific residential property
- consent of all adult family members registered in the apartment. If the process involves several participants, a prerequisite is the provision of formal consent from each of them
Please note that the list of documents may vary depending on your specific situation and local regulations. It is recommended to check with the relevant government agencies and lawyers in advance.
After collecting all the papers, you need to submit an application to the relevant local government body or specialized agency for housing issues. All persons participating in privatization are registered in the application. The government agency verifies the submitted documents, which will take some time. After approval of the application, registration of ownership of the residential space begins. This includes registering ownership in the appropriate registers. At the final stage, documents confirming ownership of the apartment are issued.
Advantages and disadvantages
Privatization of an apartment entails a number of advantages and nuances that are important to consider.
Pros:
- you receive unlimited rights as an owner, which allows you to independently decide how to dispose of your home: sell, exchange, donate, rent out, leave as an inheritance
- legal protection: as the owner, you receive additional security for the property. The state guarantees the protection of your property rights
- investment attractiveness: square meters can serve as an important asset and investment that increases your material well-being
- possibility of obtaining a secured loan: use a privatized apartment as collateral when obtaining a mortgage loan
- the area can open up additional opportunities for improving living conditions through various government programs
Nuances:
- ownership of property entails obligations to pay taxes and pay the costs of maintaining and repairing the apartment
- the privatization procedure can take considerable time and require a large number of documents
- in some cases there are prohibitions on privatization, especially regarding apartments in some locations or belonging to certain types of housing
- the need to collect official consent from each adult family member who is registered at the address of the apartment to be privatized
- if there are multiple potential owners, it may be necessary to resolve disputes over ownership.
When considering the issue of privatizing an apartment, it is important to carefully weigh all the disadvantages and advantages, consult with legal specialists to understand all aspects of the process. Also, you can contact the premium real estate agency T.H.E. Capital – professional experts will help you in all matters related to real estate.