What are the consequences of not indicating a price in the contract of sale of real estate?
In the absence of a condition on the written agreed price of the parties in the contract of sale of real estate, the contract of sale is considered not concluded.
M. wants to borrow money from N. M. can provide money only in foreign currency. Is it possible to draw up a loan agreement in foreign currency?
Yes, it is possible to conclude a loan agreement in a foreign currency, with the exception of consumer loans, which are given by banks and credit organizations, that is, they are loans.
J. wants to transfer money to his grandson to pay for his studies, but J. is going to transfer money in foreign currency. Is such a money transfer possible?
Yes, non-profit money transfers to the territory of the Republic of Armenia and outside the Republic of Armenia, including transfers of pensions, inheritance, financial assistance, gifts, with the exception of payment of wages, may be made in foreign currency.
T. turned to the registry office with a request to change his name. T fears that the application may be rejected. In what cases is the registry office entitled to reject the application?
A name change application is rejected if:
1. does not meet the requirements for filing,
2. A criminal case has been instituted against a person who wishes to change his name.
3. A person who wishes to change his name is being punished in a criminal case.
An application for a name change is considered by the territorial registry office within two months from the date of application.
M. is already of a legal age, but does not have a birth certificate. How can she receive this certificate?
State registration of birth is carried out on the basis of the application of M., that is, M. can apply to the registry office at his place of residence and submit applications for a birth certificate.
Can I borrow money and get interest for it?
Yes. The lender has the right to receive interest on the loan from the borrower. The contract should indicate the amount of interest and the calculation procedure. If the contract does not indicate how interest should be paid, they should be paid every month. The amount of interest receivable cannot be more than two times higher than the calculated interest rate of the bank interest rate established by the Central Bank of Armenia. Currently, the estimated rate is 12 percent per annum, which means that the percentage in this case cannot exceed 24 percent per annum.
B. loaned money G. How can this be arranged in order to avoid problems in the future?
Borrowing money is considered a loan agreement, which must be concluded in writing form. Proof of such an agreement may be, for example, a receipt issued by the borrower. The name, surname and patronymic of B., passport data and similar data of G. must be indicated in the contract or receipt. The fact of the issue of money, the date of giving and the date of refund must be clearly indicated.
R. is going to give his brother’s son an expensive collection of his paintings, but he wants the gift to be canceled if R. lives longer than his brother’s son. Can R. do this?
Yes. R. may determine his right to cancel the gift if he lives longer than his brother’s son.
Nephew K. incurred some of the costs associated with signing the gift contract. Does K.’s nephew have the right to demand that K. reimburse his expenses?
Not. K.’s refusal to fulfill the gift contract does not give the donee the right to demand damages.
L. wants to present her apartment to her grandson K. In exchange for this, L. demands that she be provided with medicines and other basic necessities. Is it possible to make a gift with a condition?
Not. According to the gift agreement, grandmother K. is obliged to transfer her apartment to K. Such an agreement is a sham contract, that is, a contract concluded to conceal another contract, and is invalid.
A. bought a private house and, having registered the ownership of it, found out that there was an unliquidated property tax liability for this property. Is A. obligated to pay off the accumulated debt if it arose before the state registration of the property right?
Yes. In case of acquisition of property subject to taxation, and in this case of a private house, if there is an outstanding liability for property tax, the new owner, i.e. A. As a buyer, it is responsible for its repayment.
Can a notary public contact the State Committee for Real Estate Cadastre to register your rights?
Since 2015, in the Republic of Armenia, documentation between notaries and the State Committee of the Real Estate Cadastre has been carried out electronically. If you agree, after ratification of the contract, the notary electronically contacts the State Committee of the Real Estate Cadastre to register your right. After that, in the same notary office you can get a certificate of registration of your rights.
How to conclude a contract of sale of real estate?
The contract of sale of real estate must be in writing form. It is necessary to draw up a document, which must be signed by the seller and the buyer, which in turn is subject to notarization. It is also possible to conclude a contract in the office of the State Committee of the Real Estate Cadastre. In this case, notarization is not required. You can contact any notary with a request to certify the contract of sale of real estate. The transfer of ownership of real estate is subject to mandatory state registration. You can contact any office of the State Committee of the Real Estate Cadastre.
Is bankruptcy right for me?
Bankruptcy is not right for everyone, but it may be your best solution
Will bankruptcy help my financial problems?
Filing for bankruptcy may help with some financial issues, but it is not always the right step. Assets you own, inheritances you expect, lawsuits you are pursuing, as well as car loans, home mortgages, child support, alimony, student loans, criminal fines and other debts can all affect your decision to file. Our free, no-pressure consultation will give you guidance on what is best in your individual situation.