Green contract or Green contract. What is it?
Is it important to have it?
What do I need for this?
How much does it cost?
Important information for those who buy real estate in Hurghada.
The Green Contract got its name thanks to the green stamps used to stamp the document in the process of its approval in 7 government instances.
The green contract is issued by the state authorities of Egypt on behalf of one or more property owners.
The Green Deal is not just any piece of paper. Its appearance and content are regulated by the Law of the Republic of Egypt no. 114 of 1964 (Act on Entry into Private Property Ownership).
Green contract - a document confirming that the property listed in it and its current owner are in the unified state register of real estate in Egypt.
The Green Contract guarantees the inviolability of property by the state.
The green contract is issued only in two cities of Egypt - Qena and Cairo.
The existence of a Green Contract for real estate, for example an apartment, is only possible on the condition that the developer has a Green Contract for the building where the property is located or for the land where it is built.
To issue a green contract, the construction of the building must be completed.
As there is no requirement for all property owners in Egypt to have a certificate of title registration, most new property owners in Hurghada will only go through the process of registering their purchase contracts at the Hurghada court, which is sufficient in most cases.
However, the current Egyptian legislation has issued a new law that has greatly accelerated the green contract registration process, giving all owners the chance to register their properties by 2023.
If the owners do not do so, there is a risk of various fines and electric shocks to the apartments.
In order for a property owner to go through the process of obtaining a green contract, they must collect certain documents:
• technical passport of your property issued by the technical supervision department in Hurghada;
• the contract of sale of your property registered in the court of Hurghada;
• your Taukil and all Taukils from previous owners of the property;
• confirmation of tax registration from the tax administrator, as well as confirmation of the market value of the registered property and tax return;
• contracts with the electricity company and the municipal water company
• power of attorney for a lawyer who is authorized to represent the interests of the owner
• a copy of a valid passport
Since the documents must be written in Arabic, it is better to entrust the paperwork to a reliable lawyer or law firm.
Note:
Sometimes it happens that the building where the purchased apartment is located does not have a green contract. In this situation, the new owner applies for the registration of the property in Sharaa Akari through a lawyer. After verifying the documents at the state notary, they discover violations of the buyer's rights. Then they independently file a lawsuit in court to restore the buyer's rights.
After receiving a positive decision from the court, the State Notary Office will register the Sahih wa nafaz, which is essentially a green contract, but with the exception of the absence of a green contract for the building or land.
Are you interested in arranging a Green Contract for your property in Egypt?
With the help of a trusted lawyer, I can help you.
He contacts me through my Facebook pages Vera Adel Red Sea Consult or at the email address:vera_adel@yahoo.com
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