What to do if the developer goes bankrupt and the home buyer is in business

1. The house was completed when the developer went bankrupt:

If the house has been completed, there is no need for the developer to invest much in the house, which will not have much impact on the buyer, and the buyer will still be able to move in smoothly under normal circumstances. At this time, the buyer only needs to repay the loan on time like a normal loan to buy a house.

However, buyers should pay attention to the fact that generally at this time the real estate certificate of the house has not been handled, and the buyer must first see whether there is a policy, if there is a centralized and unified handling, it is relatively simple, if there is no owner, you need to go through your own methods. Of course, this process is complicated and hard, and it is still necessary to make these efforts to get the real estate certificate and protect your rights and interests.

2. The house was not completed when the developer went bankrupt:

If the house you are buying is not completed, it is still in the off-plan stage, and both parties have not fulfilled the contract, then the buyer does not have ownership of the house. However, if the buyer has paid the full price and the property you purchased is excluded from the estate, the buyer can ask the bankruptcy administrator to transfer ownership of the property and apply to the real estate administration to change the registration of the house.

How to avoid picking a developer who may go bankrupt

1. Qualifications for choosing developers:

The qualification of the developer mainly refers to whether the relevant procedures of the developer are complete, whether the developer has a business license, whether the business license is formal or not, and the information contained in the business license are all things that buyers need to pay attention to. Only the project developed by the developer with complete procedures can be purchased with confidence, and the developer who lacks a formal business license can hardly guarantee that the project will not be unfinished, protect rights, etc.

2. Look at the scale of the developer:

Generally, the developers who can develop a relatively large scale of the community are relatively strong, and the corresponding company scale is bound to be huge, rather than only empty shelves, and buyers are more assured to choose such a developer, and the probability of bankruptcy of such a developer is relatively small. In addition, in terms of property services, strong developers generally own their own properties, from land acquisition to owner occupancy, one-stop service, responsible and dedicated.

3. Look at the developer's reputation:

Buyers can also go to some owner groups or forums to find out, because only owners who have actually bought the developer's house will have more credible evaluations. If the owner's evaluation of the developer is very good, the developer will naturally have a good reputation, which cannot be accumulated in a short period of time.

The developer is bankrupt and the buyer can check out.

In principle, if the buyer buys the house, but encounters the bankruptcy of the developer, in this case the buyer can check out, because the developer is bankrupt, resulting in the owner law to fully obtain all the rights and interests of the house, the buyer can return the house payment after the check-out in accordance with the relevant regulations.

If the developer goes bankrupt after the owner has paid the full amount of the house, the owner can be compensated first. If the owner has only paid the payment and the developer goes bankrupt after signing the contract for the sale and purchase of the commercial house, the owner can request to terminate the contract and return the payment and interest.

Developers bankrupt home buyers' practices:

If the developer goes bankrupt, the developer or creditor may apply for bankruptcy liquidation and set up a liquidation team to clean up the company's claims and debts. Creditors can declare their claims. The process of declaring claims:

After the bankruptcy case is accepted, the creditor shall declare the creditor's rights to the people's court within 30 days after receiving the notice, and within 3 months from the date of announcement if the notice is not received.

If the creditor declares the creditor's rights, it shall explain the amount of the creditor's rights and whether there is any property security, and submit relevant supporting materials. The people's court shall appoint a special person to register the declared creditor's rights. The declared creditor's rights shall be examined and confirmed by the creditors' conference before they are determined.

Developers bankrupt home buyers have the following options:If the developer repeatedly delays the delivery time and encounters a "unfinished" crisis, the buyer must not follow the purchase contract.

Check out as agreed. Because at this time, the developer has no money in his hands, and after checking out, he cannot immediately get the purchase price, only a receipt or IOU. The relationship between home buyers and developers will change from a buyer-seller relationship to a creditor-debtor relationship.

If there is a possibility that the real estate is "unfinished", do not rush to the court first, and give the developer a little time to see if it can raise funds in a short period of time, complete the follow-up project, and minimize the possible losses. If the owner decides to sue the developer, it must be united and put together. If only some owners win the lawsuit and get compensation, while other owners do not sue in time, they may not get compensation in the end.

After a certain period of time, if the developer still does not raise enough funds to complete the project, the developer should file for bankruptcy protection in court. After the court dismantles and auctions the company, it obtains funds for the subsequent completion of the project.

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What happens if the off-plan developer goes bankrupt? Real estate people support a move to reduce losses.

Legal analysis: In principle, if the buyer buys the house, but encounters the bankruptcy of the developer, in this case, the buyer can check out, because the developer is bankrupt, resulting in the owner can not fully obtain the full rights and interests of the house, the buyer can return the house payment after checking out in accordance with the relevant regulations. If the debtor is unable to pay off the debts due, the creditor may apply to the people's court for reorganization or bankruptcy liquidation of the debtor.

After the developer goes bankrupt, if the purchaser buys the house in full, he can have the ownership of the house, and if he has paid the down payment, he can request to terminate the contract and return the down payment.

Legal basis: Article 3 of the Enterprise Bankruptcy Law of the People's Republic of China shall have jurisdiction over bankruptcy cases by the people's court at the place where the debtor is domiciled.

This problem needs to be analyzed in combination with the specific situation, and there are three main points:

First of all, when the developer goes bankrupt, the house has been completed, and it is necessary to see whether the buyer has gone through the advance registration, and if so, then the housing rights enjoyed are protected by law.

According to Article 577 of the Civil Code, if one of the parties fails to perform its contractual obligations or the performance of its contractual obligations does not conform to the agreement, it shall bear the liability for breach of contract such as continuing to perform, taking remedial measures or compensating for losses, and may even claim to terminate the contract.

Legal basis: Article 221 of the Civil Code If a party signs an agreement on the sale and purchase of a house or an agreement on other real estate rights, in order to ensure the realization of real rights in the future, it may apply to the registration authority for advance notice registration in accordance with the agreement. If, after the advance notice is registered, the immovable property is disposed of without the consent of the right holder of the advance notice registration, the real right shall not take effect.

After the advance notice is registered, if the creditor's right is extinguished or the application for registration is not made within 90 days from the date on which the immovable property can be registered, the advance notice registration shall become invalid.

Article 577:Where one of the parties fails to perform its contractual obligations or its performance does not conform to the agreement, it shall bear liability for breach of contract such as continuing to perform, taking remedial measures, or compensating for losses.

Note: The Civil Code will come into force on January 1, 2021.

Abstract: The bankruptcy of the developer can be resolved by legal means. First of all, it is necessary to figure out some issues in the ownership of property rights, of course, if some local developers are indeed unable to continue to build houses because of some economic problems, they may be negotiated.

Legal Analysis: The developer and the owner of the bankruptcy can be resolved by legal means. First of all, it is necessary to figure out some issues in the ownership of property rights, of course, if some local developers are indeed unable to continue to build houses because of some economic problems, they may be negotiated.

What to do with the developer bankruptcy owner:

The developer goes bankrupt and the owner can solve it through legal means.

1. Clarify the ownership of property rights.

Generally speaking, unfinished buildings are also a "heart disease" of lending banks and local governments, and there have been cases of continuation, reconstruction, and revitalization of unfinished buildings in the past few years. However, in case the buyer really encounters an unfinished building, the first thing to do is to learn to "save himself" and protect his rights and interests as much as possible through legal and other means.

According to the regulations, if the house has not been completed at the time of the bankruptcy declaration of the real estate enterprise, or if the administrator decides not to continue to build the unfinished house after the people's court accepts the bankruptcy application, it will cause the bankrupt enterprise to be unable to perform the debts of the buyer. According to the different ways of buying the house, it can be distinguished into two situations: buying a house with a mortgage loan and buying a house with installments to the seller, which will have different impacts on the ownership of the house when the real estate enterprise goes bankrupt.

Therefore, buyers should first seek professional legal advice to clarify their rights. In short, it is better to have property rights in hand than to get nothing.

2. Distribute negotiation and rights protection.

After figuring out the ownership of the property, the buyer should try to get the maximum legal support with the other owners.

First of all, if the purchased property is only "unfinished", you can try to give the developer a little time, if it can raise funds in a short period of time to complete the follow-up works, the buyer's loss can be minimized.

Secondly, if the developer goes bankrupt due to insolvency, and encounters a "bad finish" crisis, the house cannot be returned to the developer. Because after checking out, the buyer cannot get the purchase price, and can only get a receipt or IOU. The relationship between buyers and developers will change from a buyer-seller relationship to a creditor-debtor relationship.

If the developer eventually has to declare bankruptcy due to insolvency, and its assets are auctioned off by the court, the consumer is more likely to receive compensation from the developer than the general creditor according to the bankruptcy law's provisions on the repayment of debts (especially if the consumer has already obtained the property title through pre-purchase).

Legal basis: Article 45 of the Enterprise Bankruptcy Law of the People's Republic of China.

After accepting the bankruptcy application, the people's court shall determine the time limit for the creditor to declare the creditor's rights. The time limit for declaration of creditor's rights shall be calculated from the date on which the people's court issues the announcement of acceptance of the bankruptcy application, and shall not be less than 30 days and shall not exceed 3 months at the longest.

If the developer is unable to apply for the property ownership certificate because of the bankruptcy of the developer, the owner can request to move out, although the house has been delivered and the house payment has been paid in full, but the registration of the transfer of house ownership has not been carried out, and there has been no change in property rights, so the obligations of the signed purchase contract have not been completed, and the developer cannot fulfill the obligations, at this time the full amount of the purchase can be requested. When buying a house, you should check the developer's qualifications and five certificates to avoid unfinished situations.

Can the developer falsely advertise that it is possible to check out?

If the developer falsely advertises, the buyer can choose to check out, because the developer's false publicity has actually been a serious breach of contract, so in this case, the contract signed by the two parties is invalid, and the buyer can not only ask to terminate the contract and check out, but also ask the developer to pay the corresponding compensation to himself. Although it is said that the developer can check out with false publicity, the premise is that the buyer must have the corresponding evidence, if the evidence is mastered, and the developer does not agree to check out, then at this time you can directly appeal to protect your legitimate rights and interests, or you can appeal with other owners, so that the success rate will be higher.

How can the developer sue if he does not apply for a real estate certificate?

If the developer does not apply for the real estate certificate, the first party must submit a complaint to the local people's court, and at the same time submit the corresponding copy according to the number of defendants. After the case is filed by the people's court, the party suing needs to pay the litigation fee and submit the relevant evidence. Next, the people's court will notify the defendant to present evidence, which may take a little longer, about 1 to 3 months, and after a specific trial date, the people's court will issue a summons.