Real estate transactions
Consulting a lawyer about real estate property in Israel
Our law office in Tel Aviv is equipped to handle all legal matters related to real estate transactions in Israel and represents the interests of our clients in Israeli courts of law in all legal disputes involving real estate. We have immense experience in this field and we take a personalized approach toward all of our clients.
We are pleased to present here the most prominent features of real estate transactions in Israel:
- Transactions with rental of apartments, private houses, and commercial real estate;
- Registration of sales contracts;
- Inheritance of real estate;
- Buying of property from the developers;
- Legal support reconstruction of homes (TAMA 38) and reinforcement (pinui-binui). Investment in TAMA 38.
Renting an apartment
For each of us, the issue of residential housing is of vital importance. Nevertheless, it often turns out that the renting of an apartment serves only the interests of the real estate agent or the apartment’s owner whom the real estate agent almost invariably represents. In most cases, when the rental agreement is drawn up, the lessee of the apartment is not represented by a lawyer, and often the rental agreement in Israel is signed by the lessee as if the latter were blindfolded, the reason being that he or she does not know Hebrew, the language in which the agreement has been written. At first glance, everything seems to be perfect – the lessee has finally found an apartment. However, when the first defect surfaces, the problems begin to arise: Who is responsible? Who should order the repair work? Who should pay for it? And so on. At a later stage, when the time arrives for the renewal of the rental agreement, other problems arise: Does the owner have the right to raise the amount of the rental payment? Must the owner pay the real estate agent an additional fee for the rental agreement’s renewal? And so on. When the rental agreement is drawn up, a lawyer should be involved in order to ensure that the lessee will be happy with the rental arrangement.
Renting out an apartment
If you have an apartment that you are interested in renting out, you no doubt have thought about how to best protect your property from troublesome lessees, how to ensure that your property will not be damaged, how to ensure that your apartment will not be used for non- residential purposes, how to avoid a situation in which the lessee stops paying the rental fee and you are unable to evict him or her, etc. In such situations, a lawyer can help you – in the drawing up of the rental agreement and in the settlement of any disputes that may arise with a troublesome lessee.
Your lawyer will help you rent the apartment and will render you legal support through the whole rent transaction.
Commercial real estate in Israel
Renting a commercial property in Israel with the lawyer.
In renting a commercial office in Israel, the use of a standard rental agreement is completely out of the question. A commercial rental contact must address all the business requirements of each party to the agreement. It, therefore, follows that this category of the rental agreement should, in most instances, be of a long-term character. For example, business premises should be rented for a period of at least ten years. It is therefore important that the lessee should be assured that, in the event of the sale of the premises by the lessor, the lessee will be able to continue to rent the premises from the new owner or, alternatively, will be able to exercise his or her preferential status in the redemption of these premises. Commercial estate attorney can help your business in the drawing up of the rental agreement and can ensure that the rental contract will serve your business goals in an optimal manner.
Purchase/sale of real estate property in Israel, legal consultation pertaining to real estate transactions in Israel
Purchase and sale, legal support of transactions by real estate Attorney in Tel Aviv
The purchase of real estate property in Israel
Every transaction related to the purchase of real estate in Israel must be conducted in accordance with fixed rules and regulations – whether the transaction involves the purchase of a new apartment from a building contractor, the purchase of a second-hand apartment or the purchase of a confiscated real estate property. In such transactions, a lawyer carries out a preliminary check of the real estate property, determines its legal “purity,” prepares documents for the transaction and conducts negotiations with the other party. The lawyer sees to it that the property rights will be correctly registered with all the various levels of the legal system. The presence of a lawyer is a guarantee of success. The idea of having the same lawyer represent both the seller and the buyer is totally unacceptable. It is vital that your lawyer represents only you; that is the only way of ensuring that your rights will be fully protected and of making a profitable purchase of real estate in Israel
The sale of real estate property in Israel
From the seller’s standpoint, a basic question in a transaction involving the sale of a real estate property in Israel is the receipt of the purchase price in the required period of time and in the required amount. A common practice in the sale of real estate property in Israel is the receipt of part of the purchase price on the signing of the sales agreement and the deposit of the balance in a trust account (heshbon ne’emanut) managed by the seller’s lawyer. The second part of the payment is transferred to the seller’s account after the registration of the buyer’s rights in the Official Property Registry (Tabu) or with the housing company (hevra mishakenet) that handles the recording of ownership, mortgages, liens, etc. with regard to the property being sold, and after the receipt of confirmation regarding payment by the seller of all taxes and all obligatory expenses regarding the real estate property prior to its sale to the buyer. Your lawyer will see to it that the plan for the sale of your apartment will serve your interests to the fullest degree, will open a trust account , will prepare the purchase-sales agreement, will conduct negotiations with the buyer and with the buyer’s lawyer, will check the registration of the transfer of rights and the receipt of all necessary authorizations, and will see to it that the outstanding balance of the purchase price is transferred to your bank account.
Reinforcement of homes (TAMA 38), evacuation-construction (pinui-binui)
The owners of apartments in an old building can participate in a building reinforcement project (TAMA 38) or in an evacuation-construction project (pinui-binui). Often, an apartment is an individual’s most expensive and most essential property, and that is why it is extremely important that your interests as an apartment owner should be protected. A lawyer in Israel who represents tenants in these projects must be independent and must not be funded by a real estate developer. Before the beginning of the project, a preliminary agreement (ekronot libitzua) must be drawn up. This document is a fundamental component in the project and one must never neglect its content. The tenants of the apartment building scheduled to take part in the project must enter into an agreement with the real estate developer’s company concerning the project’s execution. The developers are often interested in obtaining the signatures of the building’s tenants as quickly as possible. Nevertheless, each apartment owner must have a clear idea of his or her rights. It is not absolutely necessary to obtain the signature of all the building’s tenants if the majority of the tenants have already signed the document. The lawyer representing you in this transaction will see to it that your rights are safeguarded.Legal advice on Real Estate
Inheritance and legal counseling
Inheritance of a real estate property in Israel has its own unique features. When an individual passes away without leaving a will, that individual’s spouse by law will receive a portion of the deceased’s real estate property. If the deceased has children, the spouse will receive half of the deceased’s property. If there are no children, then, under certain circumstances, the spouse becomes the sole heir of all the deceased’s real estate property. It is important to understand that, when there is a prenuptial agreement between the deceased and the spouse, the law concerning inheritances is applied, in which case the prenuptial agreement is no longer valid. If you want to determine who will receive your real estate property after you have passed away, it is essential that you write a will. A lawyer can prepare your will so that it will reflect all of your wishes regarding the disposal of your property after you will pass away.
Gratuitous transmission of real estate property with the help of a lawyer
In what cases can a gratuitous transmission of real estate property take place?
For example, you have inherited an apartment but you already own a real estate property. In order to avoid having to pay taxes for this additional apartment, which you received as an inheritance, you can register the inherited apartment under the name of a very close relative, with the condition that he or she cannot sell it and with the additional condition that, in the event of his or her death, you will reassume ownership of the apartment. A lawyer can help you by preparing the necessary documents, by monitoring the process of the reregistration in the Official Property Registry (Tabu) and by reporting the reregistration to the taxation authority. This kind of transaction is not taxable.
What does a real estate lawyer in Israel actually do?
The Real Estate Lawyers are involved in all phases of real estate transactions, from ordinary transactions to resolving disputes in court. A Lawyer reviews and prepares purchase and sale agreements, mortgage documents, checks title documents, and controls transfer of documents according to Israeli Property Law.
Real estate Attorney advises individuals and corporations, resolve any disputes with real estate in mediation or in court.
The experienced real estate attorney will save you money and help you to avoid problems in the future by entering into a secure deal.
Anastasia Fux, Attorney at Law