"Signature Validity Court Verdict" Laymens Terms?

[alanwhite]

I am looking for more information on the Signature Validity Court Verdict. I have researched it and have been given so many varied accounts that I would like to put it out there for someone to explain in laymans terms.

I have so far been led to believe.

If you are granted a "Signature Validity Court Verdict" that is simply the court validating the signitures of the buyer and seller. The court authentificates ONLY signatures of both parties on the sale contract. And issues the Court Decision saying - the signatures of both parties are authentificated. Nothing more!

So the position is you have a "Signature Validity Court Verdict" how do you go about reselling your property?

Aparently you need the POA from the original owner/developer to be able to sell.

Can anybody expand on this giving a full "For Dummys" explanation of the "Signature Validity Court Verdict" I have researched and all I found is the same information pasted into peoples websites.

 

[sunshine.2]

hi alan not sure if the information in this link answers your question but came across it whilst checking the net for some other info. hope it helps

Egyptian Buying Process | How to Buy Property in Egypt

 

[LOUKIC]

Hi Alan,

The signature validity is a law suit, which has the purpose to validate the signature of the seller.

The signature validity has the following benefits:

1- The defendant (the seller) cannot deny his signature on the contract after the judgment related thereto is rendered;

2- The date of contract is recorded and established officially;

As you may already know, it is difficult to register title deeds at the land registry in Egypt. The signature validity is not mandatory. It is just a precaution to safeguards the purchaser's interested against the seller before he can register his title deed. It is recommended to do it after exchange of contracts.

If you decide to sell your property you would need in most cases the authorisation from the developer (the project owner). This authorisation can take the form of a power of attorney where the developer gives you authority to register the property or sell it to others.

 

[alanwhite]

Signiture of Validity

Thanks for the info, you state

"If you decide to sell your property you would need in most cases the authorisation from the developer (the project owner). This authorisation can take the form of a power of attorney where the developer gives you authority to register the property or sell it to others.

I am a confused person.

If you have the signiture of validity contract I have been told if you want to sell when you turn up at the notary they will ask for the POA enabling you to sell

Does the developer/owner give this permission to sell via the POA when you register the contract via signiture of validity?

If you already have a paid contract that as been registered by signiture of validity then can you sell with just this

Thanks

 

[LOUKIC]

Dear Alan,

No you cannot just sell the property with just having done the signature validity of the contract.

I need breefly to explain you the buying process.

The buying process in Egypt is in two stages:
-signature of a sale agreement with the seller;
-the registration of your title deed (for freehold properties);

On completion, and after payment of the purchase price, the project owner should issue a notarised power of attorney to give you authority to register the property under your name and to sell the property to third party. If you have this POA, you do not need further authorisation to sell. If you have registered your property already using the POA, you can sell after five years. If you do not receive this POA, you would need to notify the project owner that you wish to sell the property.

The signature validity has nothing to do with the above.

Have you already purchased a property in Egypt or do you intend to buy there?

 

[alanwhite]

Still confused?

I have a property. The Lawyer has signiture of validity contract. He will not explain to me as he is working with developer.

Some advice people say they buy and sell with signiture of validity contract. They do not register the property as you can not sell for 5 years.

So armed with just a signiture of validty contract if I wanted to sell (without registering) are you saying I need a notarised power of attorney from the developer to say I can sell?

 

[LOUKIC]

First of all, it is risky to use the developer's lawyer (conflict of interest). If you have used a lawyer and paid his fees, he should be the best person to advise you on the correct procedure to follow.

My view is that you do not offically own a freehold property unless your title deed is registered at the land registry.

Unless you own a registered property for more than five years, you would need to notify the project owner that you wish to sell or assign your contract to a third party.

My recommendentations would be to ask your lawyer and check the sale agreements you have signed. There might be a clause in it related to resale.

Have a nice week end

 

[alanwhite]

Hi my original Question still stands. I can not trust the Lawyer as he is working with the Developer.

All I have is a Signature of validity. I do not want full registration as I can not sell for 5 years.
There are a lot of web sites that say you can register, buy and sell by Signature of Validity.
There is a lot of contradictory advice that you can, you can’t and you need a POA, which is why I posted on here.

This is my position. I have a signature validity contract. If I wanted to sell my apartment tomorrow what other documents would I need. Would I need the Power of Attorney from the developer to sell?

 

[Randall]

Sorry you have not received an answer to your important question!

I am sure if you get in touch with Elite-Overseas agents in Newport, Shropshire who sell properties ALL over the world they will have an answer for you.

They are experienced, or so i understand to act as agents for numerous developments, and have a vast amount of knowledge?

I was told by the owners they act as agents for reputable developers?

Good luck to you.....

 

[LOUKIC]

Hi,

You need a POA from the seller to either register your unit or sell it to others. The answer is yes.
If you do not have this POA, you would need to notify the developer by registered mail to seek his approval.