A real estate transaction, such as buying or selling an apartment, is typically the largest and most expensive transaction in a person’s life. We’re usually talking about a transaction worth millions, and typically involving the buyer’s or seller’s place of residence, which makes the transaction more sensitive than any other transaction in our lives.
A real estate transaction involves legal aspects relating to land rights, how rights are registered, banks that lend money in exchange for a mortgage, taxation on the purchase or sale of the apartment, and many other variables that must be managed correctly on behalf of the party to the transaction in order to protect their rights.
Substantively, according to Israeli law, a transaction for the sale or purchase of an apartment requires a written agreement/contract. This matter is typically arranged in a sale agreement that is registered as part of the transaction with the Land Registrar (Tabu and Minhal).
