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Nominee Agreement Property

2. Nominee undertakes and agrees, subject to the compensation below, that it treats at all times and from time to time with the property as a name for the owners only in accordance with the written or oral instructions and instructions of the owner and not otherwise; and that it does not have to do an act concerning the real estate assets without the express permission and instruction of the owner, and that it does not have to fulfil active or independent obligations with respect to the property, unless it is expressly provided for. A nominee sale is usually made by a buyer of a property who does not have access to the funds to be settled, mainly by banks that do not allow credit after a property has become an unconditional sale (for more information on what an unconditional sale clicks here). Once the buyer has exhausted all financing opportunities and failed, they must sell the property. The property is then put up for sale through ordinary real estate media as a "nominal sale." This now gives a new buyer the opportunity to purchase the property. Once a buyer has been found, the original buyer will designate the contract signed to the new buyer. This frees up all legal ties with their name or legal personality and the title of the property. One thing that is becoming more and more common in newly built apartments and some houses is the sale of nomine. A nominee sale offers the possibility to someone who has purchased a property but cannot stand out from it, a way to find another buyer to step in and have the contract transferred to his name and close the transaction. The existence of this agreement does not change the way the property is self-deeded. In the event of the owner`s death, the fiduciary name of the property and keeps it on behalf of the legal heirs. For legal reasons, a nominee agreement is an agreement in which the owner registers the property on behalf of a candidate, so that the applicant legally retains the property and all related rights, such as mortgages, interest, relief, licenses, rents, statutes and fees.

Unlike the owner, the nominaire has no favorable interest in the property. In the nominal agreement, the owner transfers the property to a candidate who agrees to make and make transactions on behalf of the owner. The purpose of the agreement is to legally describe the ownership and role of the candidate. For legal reasons, a nominating agreement is an agreement in which the owner registers the property in the name of the applicant, so that the applicant legally owns the property and all related rights, such as mortgages, interest, relief, licenses, rents, statutes and fees. Unlike the owner, the candidate has no favourable interest in the property.