A joint development agreement is an agreement between a land owner and a project owner, in which the owner of the land pays the land and the developer assumes responsibility for obtaining permits, developing real estate, launching and marketing the project with the help of his financial resources. Failure to register this agreement does not directly affect your purchase. However, the problem lies in the fact that this document is not admissible evidence before the Court of Justice. Another clever trick from project owners. The joint development agreement is executed and registered in order to comply with the rules and rules. Subsequently, a separate addendum to the joint development agreement is signed. This is either an amendment to some of the existing clauses of the JDA, or additional clauses that will be part of the JDA. 2) In your additional documents, the real estate is actually assigned to different parties, which means that the actual transfer of ownership (transfer / assignment of ownership, ownership and interests) has actually been recorded in additional documents and it is therefore mandatory that the additional documents must be registered. Description of the ownership document: the amendment covers any extension, modification or modification of certain clauses of the main agreement. Often, changes are necessary to the main agreement and the only way to execute it is through the endorsement. It is enough to check if an endorsement is executed against the main agreement. Why it`s necessary: To avoid future shocks with modified clauses that you may not know and that are not in real estate documents.
Required: Yes Required in Original: Not Required for: Real Estate Purchase Please note that all these cases are a bit complex and you should only interact as a buyer with the authorized landowner under the joint development agreement. In many cases, the indirect beneficiary of these operations, that is: The signatory of the GPA / Family Settlement Agreement, directly to the buyers to conclude the operation. The probability of fraud or fraud is high in such cases. Therefore, any agreement should be entered into directly with the landowner whose name is mentioned in the JDA. Finally, you should also review and review the copy of the AMP or family agreement to provide more clarity. Local governments should describe the long-term costs and maintenance requirements, for both the jurisdiction and the developer, as well as the monitoring procedures and procedures for changing the contractual terms in the future. Please note that the execution of the endorsement does not cause any damage if it is also registered. Otherwise, the endorsement is just another piece of worthless paper. For example, in one case, 23 dwellings with specific housing numbers were assigned to the landowner under the JDA. . . .