Real Estate Agent / Real Estate Broker - is a person providing real estate services
Arvuna/ Advance - according to the Civil Code, it is an amount of money or other goods that a Contracting party gives to the other party to confirm the conclusion of the contract and to guarantee its execution. In case of mistrust, the amount paid is considered an advance. The advance should be confirmed in writing. “Arvuna” takes into account the performance of the contract, and if it is not done, it is returned. If the party that gave the arvuna is responsible for non-performance of the contract, it remains to the other party. If the party who received the contract is liable for the non-performance of the contract, it is obliged to pay the other party the double of the amount.
Pre-contract - agreement whereby one party or both parties agree to conclude in the future a specific contract whose essential content is currently determined. It is a prior agreement for the conclusion of perfecting other contract, which deals with the obligation to subsequently make the promised contract, under the conditions agreed upon by that prior agreement.
Real estate / real estate goods - things that have a fixed and stable settlement and therefore can’t be moved from one place to another without losing their identity or destination (apartment, house, land, commercial space).
Sale - Buy contract - is defined in the Civil Code as a contract in which a party, called a seller, undertakes to hand over a property to the other party (the buyer), and the buyer undertakes to take over the asset and pay the agreed price.
Exclusive contract - the contract between the client and a real estate company, requiring the exclusive right of representation in case of sale, rent or purchase. The real estate agency presents its working methods and responsibilities, the terms of the contract being very clearly expressed.
Mortgage loan - consists of a loan for the purchase, construction or renovation of a real estate good. The mortgage is guaranteed with the property in order to secure the obligation to pay the loan.
Cadastre of real estate - general cadastre, which represents a unique multifunctional system of state registration of real estate goods, the property rights and the estimation of their value;
The real estate market represents all the transactions involving the ownership or use of land and buildings.
Real estate services include the following activities: online and offline promotion of a real estate for sale, purchase or rent; consultancy for the sale, purchase or rental of the property; real estate intermediation; administration of buildings.
Termination - a term that designates the closure of the contract with successive execution, producing effects only for the future and not for the past, and which is caused by the inappropriate non-performance of the contract by one of the parties.
Assignment - transmission by a person of a right to claim consideration to another person.
Tenant (person or institution) who rent a home, office or shop.
Buyer - the person who acquires the right to ownership a good against a payment.
Seller - a person who sells goods.
The right to property is, according to the Civil Code, the right of a person to dispose of one good exclusively and absolutely, but within the limits of the law.
The right to claim is a civil right that benefits the creditor, to claim to the other party, called the debtor, the fulfillment of its obligation.
The public notary is a civil servant with the task to authenticate legal acts, legalize signatures, to issue legalized copies, certificates of inheritance.
Owner - person who has ownership of a good; person who owns a building.
The individual - the individual subject of law; a person - regarded as the holder of civil rights and obligations.
The legal entity - is a collective subject of law, the holder of subjective rights and civil obligations. A legal entity is any organization that has its own organization and its own patrimony.
Testament - a legal and formal act by which a person called a testator appoints one or more heirs, with the aim of inheriting goods.
Author: Victor Cernomorcenco
Realization of the analysis by Victor Cernomorcenco, specialist in real estate in Chisinau and representative of Acces Imobil.
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