In March, the legislative mechanism of escrow accounts is introduced during the construction of individual housing facilities under construction contracts

Krympress reports:

Since March 1, 2025, the Russian Federation enters the legislative mechanism of escrow accounts in the construction of individual housing construction facilities under construction contracts. On the first day of spring will enter into force Federal Law No. 186-FZ «On the construction of residential buildings on construction contracts using escrow accounts «.

Recall that the escrow account is a special bank account where the customer’s funds are placed and stored Until the completion of construction.

The new law establishes the contractor’s right to conclude a construction contract, build an IZHS facility for its own or borrowed funds, while the money customer will be transferred to a special account. The developer will receive access to them only after the completion of the construction and delivery of the facility— notes Olesya Kalinkina, head of the Rosreestr department in the Republic of Crimea Sevastopol.

Thus, the legal model guarantees protection of invested funds of citizens for the period of construction of residential buildings, levels the risks of loss of financial resources by customers in case of non -fulfillment by contracting organizations of their obligations, as well as the risks of incomplete construction of individual residential buildings. Accordingly, the number of citizens affected by unscrupulous contractors will definitely decrease, — believes the deputy chairman of the State Committee on State Registration and Cadastra of the Republic of Crimea Julia Zhiganova

The legislative act establishes various requirements for the developer, whether it is the requirements for the disclosure of the developer of information, the conditions for the construction of the construction contract must be indicated for the registration of the customer’s ownership for a residential building, built in accordance with such an agreement.

For example, within the time limits determined by the construction contract, the customer can send and receive in accordance with the urban planning Code Russian Federation notifications provided for in articles 51.1 And 55 Gradcodex of the Russian Federation. Another method is within 14 working days after the signing of the transfer act of the built facility by both parties to the agreement, the customer will have to ensure the registration of ownership of a residential building in a simplified manner provided for Part 12 of Article 70 of Federal Law No. 218-ФЗ «On State Registration of Real Estate» Based on the title document on the land and technical plan for an individual residential building.

In accordance with the construction contract, the customer may impose an obligation to the contractor on his own behalf and without a power of attorney to send and receive in accordance with the urban planning Code RF notifications provided for Articles 51.1 And 55 Gradcodex of the Russian Federation. In addition, if this is reflected in the contract, the contractor may apply to the State Register with a statement on the state cadastral registration and state registration of the customer ownership of the residential building, with the application to such a statement of the construction contract and the transfer of the customer and the contractor.

Approximate form Construction contract approved Order of the Ministry of Construction of Russia dated 17.01.2025 N 20/pr.

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