A real estate transaction, such as buying an apartment or selling an apartment, is typically the largest and most expensive transaction in a person’s life. We are usually talking about a transaction worth millions, 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 has legal aspects relating to land rights, the manner of registering rights, 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 for the benefit of the interested party in the transaction in order to protect their rights.
As a matter of substance, according to the law in the State of Israel, a transaction for the sale or purchase of an apartment requires a written agreement/contract. This matter is usually arranged in a sale agreement that is registered as part of the transaction with the Land Registry (Tabu and Administration).
