On equity participation in housing construction

Methods of organizing equity participation in housing construction
Equity participation in housing construction is organized in one of the following ways:
1) obtaining the guarantee of the Guarantee Fund;
2) participation in the second-tier bank project;
3) attracting money from shareholders after the construction of the frame of an apartment building.

Note:
- It is prohibited to attract money from individuals and legal entities for the construction of residential buildings (residential buildings) in other ways.

Requirements for entering into a contract

1. The agreement on shared participation in housing construction is concluded in writing and is considered concluded from the moment of its registration with the local executive body.
2. Attraction of money of shareholders is carried out by the authorized company on the basis of the permission of the local executive body.
3. The authorized company provides for review to individuals and legal entities who have applied for the purpose of concluding a contract on equity participation in housing construction full information about the construction object.
4. If the authorized company provides incomplete and unreliable information, the shareholder has the right to apply to the court with a claim for recognition of the contract on shared participation in housing construction as invalid.
2. The authorized company is responsible for ensuring control over the progress and quality of construction.
2.1. The authorized company, under the conditions specified in the agreement on equity participation in housing construction, disposes of the money deposited for the construction of a residential building (residential building) and is responsible, provided for by the legislation of the Republic of Kazakhstan or the agreement on equity participation in housing construction, for:
1) targeted and timely use of shareholders ' money;
2) compliance with the requirements of regulatory and technical documents during the construction of the object;
3) the quality of the construction materials, structures, equipment used and the conduct of construction and installation works;
4) terms of putting the object into operation;