Rightmark Group representing interests of Leader Group Construction Company provided legal support of a transaction for purchase of ownership of a land plot with real estate in Yanino Village (Vsevolzhsky district of Leningrad Oblast) for reinforced concrete plant construction. A special aspect of the transaction was that by the time the parties reached an agreement in principle on the transaction, the land plot was not formed. Also, due to payment in instalments the land plot was mortgaged. After legal due diligence of documents for the land plots, including in order to assess feasibility of plant construction in the land plot offered for purchase, and lengthy negotiation of the transaction terms the company Rightmark Group managed to secure conclusion of all necessary contracts and their proper performance by the parties, including mortgage lien release.
Acquisition of land for construction is always connected with urban development and infrastructure risks to be eliminated at the stage of making a transactional decision. Also, acquisition of a land plot to be formed in the future as a result of division of another land plot, is associated with a significant number of buyer’s risks, which requires elaboration of the transaction legal structure. By now Rightmark Group ensured registration of title to land, established servitudes for the adjacent areas for access of construction equipment to the site. Thus conditions are created for commencement of plant construction at the site.