All women with more than three children, one of whom was born in 2006 at the latest, have the right to receive the parent capital. Most often, young families are using it for the purchase of vehicles or real estate.

What documentation will need to purchase a home

So, for the purchase of residential property on the parent capital will be required to present birth certificate of children, certificate on the application of the parent capital, and also the pension insurance certificate of the children and the applicant. Also will have to make a written statement about the use of funds from the parent capital. Be sure to make copies of each document they can be useful in case something gets lost or for some reason unusable.

The process of purchasing property on the parent capital

The process of buying property on the parent capital is not much different from that of conventional funds. First you will need to enter into a regular contract of sale. At the same time it should be clearly stipulated the amount that the seller will receive from the state (from the parent capital). If the value of the acquired property is more than the sum of the capital, the remaining amount the family pays on their own, using if necessary a credit.

After signing the contract parties, its copy refers to the registration center confirmed the deal. In any case the process itself is quite troublesome, so it is recommended to involve in the transaction lawyers in order not to stumble on fraud and other obstacles, which in this case is a great variety.

After registration of the transaction you will need to refer to the pension Fund the full package of documents and wait for the approval of the transaction, often the money is credited to the seller within two months is stipulated time. Not to mention the fact that the sum of the parent capital is constantly changing and being clarified. Therefore, before entering into the transaction should come to the pension Fund at the place of residence and to clarify the amount which is supposed to you at the time of acquisition of the property.

When conducting deals involving maternity capital, every member of the family should be documented as the owner of part of the home. In the future it makes it impossible for the infringement of rights of any family member.