Real estate transactions in Kazakhstan are complex as in many countries because of legal issues and documentation. Documentation is one of the most important parts of real estate along with its condition and location.

Not long ago our lawyers close the deal with several real estates. This deal was complicated by various mistakes in real estate documentation. In other words, the documents were not “clean”.

Our lawyers helped to “clean up” all mistakes before the transaction in order to close the deal in time.

In this article, you can find out common mistakes in real estate documentation that our lawyers faced, what consequences they could lead to, and how to avoid them.

Common mistakes in real estate documentation

In practice most real estate transactions are suspended because of several common mistakes in documentation that could be fixed in advance:

Consequences of the mistakes in real estate documentation

Mistakes in documentation may cause the following negative consequences:

What should the buyer do in order to minimize the legal risks of real estate transactions?

The buyer could avoid all the above-mentioned negative consequences, if the buyer will follow our advice.

For this purpose the buyer should do the following:

Summarizing, we would like to note that Kazakhstan legislation and practice in the real estate field constantly change. Thus we recommend checking any updates before real estate transactions.

Authors: 

Mr Nurzhan Stamkulov, Mr Ali Dautalinov

Lawyers, Synergy Partners Law Firm