Transactions for the sale of an apartment in the primary residential real estate market, namely in houses under construction, is regulated by the 214 article of the Federal Law of the Russian Federation “Participation in shared construction”. Based on the current version of the Law, a builder company, which received land and permission to build an apartment building, is obliged, after putting the facility into operation under a shared participation agreement, transfer it to the buyer-permanent. The buyer-donor, having in hand, the act of acceptance and transfer of the subject of shared construction, registers his right of the owner in a new building. As soon as the certificate of state registration of ownership has been received, the object goes into the category of secondary housing, changing its legal status. From the date of signing the contract of shared participation and before the registration of housing, it may take from 3 months (the house is ready to commission) and up to 1.5 years (when only the foundation of the future house is laid).
