La Verde New Capital is a modern residential compound located in the New Administrative Capital of Egypt. The compound offers a luxurious and comfortable lifestyle for those looking for a serene and eco-friendly living environment. One of the available units in the compound is the 135-meter semi-finished apartment. As a lawyer, it is important to be aware of the legal framework surrounding the sale and purchase of real estate properties in Egypt.
Legal Framework
Egypt's regulatory framework covers the sale and lease of real estate property and is governed by Law No. 144 of 2006. The law regulates the sale of movable and immovable properties and requires that the seller provides detailed documentation to the buyer regarding the property's location, specifications, size and design. The documentation should be clear, unambiguous, and free of errors or misleading information.
The buyer has the right to verify the information provided in the documentation and request clarification or additional details from the seller or the relevant authorities. Once both parties agree on the terms and conditions of the sale, they can proceed to execute the transaction.
Buyer's Rights
The buyer of the semi-finished apartment has certain rights that are protected by the law. The buyer is entitled to receive a copy of the sales contract before signing, the right to cancel the contract within a specified timeframe if they change their mind and the right to receive the property in the condition and specifications agreed upon in the contract.
The buyer should verify that the property has fulfilled all legal requirements, including any permits or approvals required for the construction, and ensures that there are no legal disputes or encumbrances on the property.
Seller's responsibilities
The seller of the semi-finished apartment 135m must ensure that the property is free of any defects or issues that may affect its value, safety, or condition. The seller should fully disclose any known issues, disputes or encumbrances affecting the property, and ensures that they comply with all relevant laws and regulations.
The seller is also responsible for providing the buyer with all necessary documents and permits, warranties, and insurance coverage required. The seller must offer the property in the condition and specifications agreed upon in the contract and must adhere to all relevant legal obligations related to the sale of movable and immovable properties.
Conclusion
La Verde New Capital is a modern residential compound that offers a range of living options for those seeking comfort and luxury in a serene and eco-friendly environment. The sale of the semi-finished apartment 135m falls within the legal framework of property sale under Egyptian law. As a lawyer, it is crucial to understand and effectively communicate the legal framework and obligations of all parties involved in the transaction. This ensures the provision of accurate and sound legal advice to clients based on their property needs and requirements.