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Legal due diligence of commercial real estate

Юридична перевірка комерційної нерухомості

Real estate lawyers of our office conduct legal audit of commercial premises in Kyiv City and Kyiv Region. In particular, we carefully check documents on all types of non-residential premises: offices, commercial premises, warehouses, shops, catering facilities (cafes, restaurants), industrial buildings, integral property complexes and others.

Specialists of the Law Office of Andriy Lotysh provide the following legal services in due diligence of commercial real estate.

Legal due diligence of the company of the non-residential owners of premises

In this case, there are processed documents about corporate structure of the company. As in practice, the sale and purchase of non-residential buildings, which belong to companies, is carried out through purchase of shares in authorized capitals of companies.

Severally, we work with documents verified absence of debt before contractors or state (about payment of taxes and fees).

In addition, real estate lawyer researches the building seller’s reputation through the media to detect hidden information about the possible negative reputation of this company.

Review of documents for commercial building

Please pay attention to the availability of documents under which it is possible to study a complete “history” of the building: from registration of primary ownership. They may include privatization certificates issued by state authorities. Documents on completion of construction works and declaration about putting object into operation. Agreements under which there was ownership re-registration. Or national courts decisions in registration of property rights on commercial premises.

Processing of land documents

Commercial constructions are most often placed on leased land lots. Due to it, real estate lawyer in Kyiv city analysis in details lease relations between the company owner of the building and landowner. In addition, we additionally work with documents under which the primary owner registered his/her rights to land.

Review of Registers of court decisions

We process information about possible legal cases regarding founders, members, shareholders of the company which sells real estate. And as to the company which owns the real estate structure.

Verification of the company’s director powers as to possibility to sell property on behalf of the legal person

Taking into consideration that commercial real estate in most cases belongs to a proper company and the sale is carried out just this company (through signing an agreement on property or corporate rights disposition), it is necessary to hold addition verification of the director’s powers.

Based on this, the real estate lawyer in Kyiv city reviews provisions of the company’s Articles and available corporate contract. As, the specified documents may include restrictions on the activity of the company’s director.

List of necessary document for legal due diligence of commercial real estate (if a building is owned by the company):

  • title documents for premises;
  • founding documents of the owner’s company;
  • documents under which the company purchased real estate;
  • documents on payment funds under the building purchase agreement;
  • decision of the supreme governing body, minutes of the general meetings of the company’s members, authorized the director to sign a property purchase agreement;
  • decision of the local authority on granting a lease of land to the company;
  • land lease agreement;
  • document about duly registration of lease in the State Register of Proprietary Rights;
  • copy of technical documents / land management project design as to the land for lease;
  • extract from the State Land Cadastre about the land.

Services providing in this practice include the following stages:

  • legal advice of the lawyer;
  • review of the documents on real estate and its owner;
  • directly legal due diligence of commercial real estate;
  • preparation of legal opinion.

After auditing, if there are no legal risks, the real estate lawyer of the Law Office provides a support of real estate transactions. In particular, we coordinate all necessary terms of non-residential property alienation with a notary and the parties to the agreement. We prepare specifically a safe building sale and purchase agreement in legal terms, if necessary we make amendments and additions to the specified agreement. Then we conduct other necessary actions in a legal support of the ownership re-registration from the seller to the buyer.

In addition, a tax lawyer of our company supports all financial and tax aspects of the agreement.

To get advice in “Legal due diligence of commercial real estate”, please, call to our office.

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