Deposit - what is it? Receiving a deposit

The terms "advance" or "deposit" often sound when discussing transactions related to the purchase, sale or lease of real estate. These words are often given erroneous meaning, perceiving them as synonyms. However, they are followed by completely different concepts that characterize the financial relations of the agreed parties. Advance is an elementary prepayment, it can be partial or full, and also be bound by a written or oral agreement. However, if the transaction has not materialized, the advance must be returned to the payer.

Deposit: what is and what it eats

Such a measure, as a deposit, is provided to guarantee the fulfillment of obligations. According to the definition given by the Civil Code of the Russian Federation, the deposit pays responsibility to all participants of financial relations. As a rule, this measure is used when concluding a contract for a large supply or in the process of transfer of ownership of real estate.

The essence of the deposit is that the agreed amount of money is transferred to the disposal of one of the participants of the agreement in the account of future receipts subject to the transaction. If the agreement can not be performed due to the fault of the payer, the deposit is not returned and remains with the property owner or the supplier as compensation for the possible losses incurred. However, upon termination of the contract by the party that accepted the deposit, the amount must be returned to the payer in a double amount. The payer can receive his money back in the original amount without making a transaction only if there are objective reasons that do not depend on the will of the parties and do not allow them to fulfill the terms of the agreement.

Documenting

Regardless of the subject matter of the arrangement, the depositing of a sum of money, which is considered a deposit, must be properly executed, solely in writing. To avoid misunderstandings, the parties are obliged to draw up and sign a document describing the order and amount of money depositing.

The main distinguishing feature of such documents is the obligatory naming of contributions made a deposit. Otherwise, in the event of controversial situations, the court is entitled to recognize the amount paid in advance and subsequently make judgments based on this definition. Such cases are not uncommon due to errors in the preparation of a document or misuse of the term "deposit".

What is the "documenting" of the deposit? This is the drafting of a contract or receipt confirming the transfer of material values and the obligations of the parties in connection with the agreement between them. The deposit document acts as an addition to the written agreement between the parties in which the subject of sale is indicated, the circumstances accompanying the transaction, the date of making the remaining funds, and the order of the parties' behavior in the event of force majeure situations.

Deposit: what is a deposit contract

The contract on making money to the value of the future purchase can be executed as a stand-alone document or act as one of the points of the preliminary contract of sale. In any case, the deposit contract (the sample can be downloaded from the network or provided by a notary) must be valid.

This means that such a document is made in accordance with a certain order and signed in the presence of a lawyer. Cash can be transferred only after the contract has been signed by all participants.

Is there a validity of a receipt on the deposit?

The Civil Code does not say which document should confirm the transfer of the deposit, only the mandatory written registration of such an agreement is indicated. If participants in financial relations can not or do not wish to use a model agreement, they have the right to independently write a receipt. Duly designed, this type of document is valid even without notarization and witnesses' signatures. However, many practicing lawyers recommend taking care of the presence of a seal on the receipt of the deposit as an additional guarantee for the fulfillment of obligations.

Basic information that you need to specify in the receipt

The law does not insist on what form a receipt for a deposit must have, but lists the information that must be included in the document. Thus, when composing a written agreement of an arbitrary form certifying the transfer of a deposit, it is necessary to provide the following items:

1. Title: The name of the document.
2. Indication of time and place of compilation.
3. Designation of all parties to the agreement. It is mandatory to bring the full name, patronymic and surname of each of the participants, as well as the interpretation of the terms "buyer" and "seller".
4. Description of the subject of the agreement: the numerical value of the transferred amount of the deposit, registered with the use of numbers and words. It is also necessary to indicate the obligations assumed for execution by the parties.
5. The next section provides for the description of the conditions, taking into account which the parties undertake to carry out the specified actions. The list of conditions includes the final terms of the transaction, the buyer's obligation to pay a certain amount and the seller's promise to transfer the agreed object or item to the buyer.
6. Description of actions of the parties in case of default. Proceeding from the fact that the receipt certifies receipt of the deposit, compensation for expenses arising from non-observance of the agreed obligations, falls on the culprit: if the buyer refuses the transaction, he loses the deposit, and if the seller violates the terms of the transaction, he pays the buyer a double equivalent of the deposit.

Additional Information

After the transfer of the basic information on the subject and terms of the agreement, it is necessary to describe the details of the participants, the time frame during which the agreement is valid and other additional conditions (if any), as accurately and in detail.

The details include the full name, passport data, address of the buyer and seller.

In the last paragraph indicate the amount to be paid. The obligatory form of the buyer's record is the form "Transmitted: the signature, the full name of the surname", also in relation to the seller ("Received: signature, name").

What is worth paying special attention to

To guarantee the fair performance of all obligations when writing a written agreement on the transfer of the deposit, you should indicate that it exists in duplicate, as well as list the documents that entitle the seller to make the transaction.

The same applies to data about the object of the agreement, its main characteristics and location.

The emphasis is on the fact that the transferred amount will be included in the cost of the acquired object. In addition, do not forget about the reservation concerning the price change: the value of the object can be changed only after discussion and agreement of all interested parties.

Why keep your eyes open?

As a rule, the use of a system that includes a prepayment or deposit is used for large transactions. This is relevant for operations with real estate, vehicles, as well as when buying lots of any goods. Frequent companions of the process of transferring large amounts of money are various fraudulent transactions.

In order not to appear with empty pockets and a spoiled reputation, one should know about the most common types of fraud, how to detect and circumvent them.

What to watch out for when making a deposit

The most common schemes of deception include:

• Multiple receipt by the seller of funds for one object. As a rule, the buyer finds out by making a deposit that the same action was carried out not only by him.
• The presence of interested parties, without the consent of which the transaction can not be completed (heirs, children, pensioners, co-owners).
• Promises of intermediaries related to the accelerated and simplified execution of necessary documentation. Passing the originals and the deposit amount, the seller remains without any guarantees.
• Receiving a deposit for an apartment that does not have legal purity, that is, there are certain controversial issues concerning the seller's right to dispose of this object.

The complexity of such situations is that their resolution requires considerable time costs associated with lengthy litigation. Often, the buyer prefers to abandon claims to the seller, even while losing the money deposited and not hoping for a refund of the deposit.

Law and order

In many respects the safety of own capital and nerve cells depends on the discretion and foresight of a person. There are several universal advice, the following of which can protect against major types of fraud:

1. Cooperation with major agencies. Their capabilities and reputation allow employees to conduct thorough inspections and screen out unsuccessful customers.
2. Self-study of certain aspects of the sphere to which the future transaction relates.
3. Drafting of an official document: the deposit contract (the sample and the order of filling are better coordinated with the notary).
4. The indication in the contract or receipt is only the real amount of the paid deposit.
5. Verification of the seller's documents, as well as the presence of all interested parties (co-owners, guardians, spouses) upon signing the agreement.
6. Verification of the seller's legal capacity in the relevant authorities.
7. Increased caution in the conduct of financial transactions by proxy. You should check not only the identity of the owner of the object, but also the office that issued the document. It would also be superfluous to study legislation on the rules of issuance and the procedure for the termination of the power of attorney.

Information on all previous transactions that have been made with real estate can be obtained at BTI on request, and the seller's current status is in a psycho-neurological or drug dispensary.

What is the cost?

Taking into consideration the legislation and rules of registration of purchase and sale transactions, many buyers and sellers understand that it is much easier to enlist the support of professionals. This approach allows us to significantly reduce the amount of work that should be done directly to the party to the agreement, since most of the responsibilities are assumed by the intermediary.

However, in pursuit of saving money or time resources, one should not lose vigilance and show excessive gullibility. Mindfulness and elementary common sense help to avoid many troubles.