Amendments have been made to the legislation aimed at providing construction participants with additional guarantees to protect their rights
Federal Law No. 202-ФЗ dated July 13, 2020 "On Amendments to the Federal Law" On Participation in Shared Construction of Apartment Buildings and Other Real Estate Objects and on Amendments to Certain Legislative Acts of the Russian Federation "and Certain Legislative Acts of the Russian Federation" (hereinafter - Federal Law) provides for a number of measures aimed at providing construction participants with additional guarantees to protect their rights.
In particular, in accordance with the Federal Law:
the procedure for transferring to the public-law company "Fund for the Protection of the Rights of Citizens - Participants of Shared Construction" (hereinafter referred to as the Fund) of the developer's rights to a land plot with inseparable improvements located on it is established in the event that the Fund pays compensation to participants in construction;
the procedure for placing information about objects of unfinished construction in the unified information system of housing construction is being clarified;
developers are given the right to dispose of funds in escrow accounts after the commissioning of an apartment building, regardless of the entry into the Unified State Register of Real Estate of information confirming the state registration of ownership in relation to one object of shared construction that is part of an apartment building and (or) other real estate object;
the procedure for forming a single register of problem objects is established (including taking into account the requirement for their mandatory categorization);
clarifies the mechanisms for the exchange of information between the insolvency practitioner and the Fund in order to make a decision on the feasibility of financing measures to complete the construction of unfinished construction projects, and also determines the procedure for financing the Fund's court costs and expenses for paying remuneration to the insolvency practitioner;
the procedure for the return of maternity (family) capital funds to the Pension Fund of the Russian Federation is established in the event that the Fund pays compensation to a construction participant or terminates the escrow account agreement;
the procedure for the sale of the developer's property transferred to the Fund in case of payment of compensation to the participants in the construction is determined.
Federal law also introduces other changes to the legislative acts of the Russian Federation regulating participation in shared construction.