Equity Construction Compensation Fund. Fund for the Protection of the Rights of Citizens of Participants in Shared Construction Official Public Law Company Fund of Shareholders

On July 21, 2017, the State Duma adopted a law on the state fund for the protection of the rights of equity holders. Construction companies are faced with stringent requirements. But will this help the families of equity holders to become owners of new apartments?

In Russia, the construction of residential buildings with the help of investments from the population has been legally regulated since 2004. Conclusion of a contract equity participation(DDU) gives families a chance to get housing cheaper market value. However, they risk losing hope for housing and being left without savings if the builders fail to fulfill their obligations. In 2014, the state intervened for the first time in the equity construction business to protect the interests of citizens - investors in housing construction. Prior to the registration of the DDU in Rosreestr, the construction company was obliged to insure liability from the insurer or take a guarantee from the bank. But Insurance companies and the banks could not complete all the problem projects and return all the money to the defrauded equity holders, whose number continues to grow. Under the new 2017 law on the compensation fund of equity holders, a mechanism is being created state guarantees compensation for losses in shared construction.

Fund for the Protection of the Rights of Shareholders

The adoption of the 2017 law on the compensation fund of equity holders radically changes the work in the equity construction market.

Foundation history

The initiative to create a shared construction fund was promulgated in the summer of 2016 (Law No. 304-FZ, Article 23.2).
At the beginning of 2017, by the decree of the President of the Russian Federation, the state fund for helping equity holders was declared formally existing, the State Duma was instructed to develop all related legal issues.
From February to July 2017, the provisions of the forthcoming legislative act were discussed three times in parliament, the project underwent radical changes and was finally approved by parliament on July 21, 2017. The full title of the law: “On a public law company to protect the rights of citizens participating in shared construction in case of insolvency (bankruptcy) of developers and on amendments to certain legislative acts RF ".

Legal status

Initially, the new fund for shared construction was defined as a non-profit organization (NPO), included in the area of action of the state Agency for Housing Mortgage Insurance (AHML). The Ministry of Construction became the founder, it owns a number of important amendments to change the status of the compensation fund of equity holders.

The Duma approved the status of a public law company (PPK) for the "Fund for the Protection of the Rights of Citizens - Participants in Shared Construction" with functions and powers characteristic of state power.

The company is accountable to the President of Russia, control over financial activities carried out by representatives of both chambers of parliament and the Accounts Chamber of the Russian Federation. Establishing such an organization with all legislative standards activities are scheduled to be completed by November 2017.

Main functions

The equity construction fund has two main tasks - to help equity holders in and bring to the end problem construction. Its functions are related to these tasks.

Keep records and control of contributions received from developers.
Organize bankruptcy arbitration construction companies who have made contributions to the fund.
Compensation for losses to equity holders.
Financing and lending to a company that has committed to complete the problem object.
Accommodation of free Money in assets and bank deposits, in mortgage securities and government bonds.

The mechanism of work of the compensation fund

The developer liability insurance mechanism that has existed since 2014 was recognized as ineffective by both independent experts and government agencies. In case of bankruptcy of a construction company, the cost insurance policy or the interest for the surety in the bank could not cover the losses of all the owners of the shared construction contracts, all the more, they were not enough to complete the problem object. The number of unfinished objects and defrauded equity holders continued to grow.

The new mechanism is convenient, first of all, for developers. They do not need to insure every contract of shared construction; they do not need to look for a suitable insurance company. It is enough to transfer a certain percentage of the transaction to the compensation fund of equity holders and obtain permission to register it.
The money received from the developers is the reserve from which the losses of the equity holders will be paid in the event of the ruin of their construction company. The same reserve will finance the company that will complete the construction of the problem object. The new developer is selected on a competitive basis.
Shareholders represented by the compensation fund have a real guarantor that their house will be completed and that they will move into a new apartment. Moreover, the guarantees are not given by a private bank or insurer, but by the PPK - part of the state structure.

The official website of the equity construction fund

Information transparency - necessary condition the activities of the new compensation fund, prescribed by law. Information on shared construction will be posted on the official website of the Unified Institute for Housing Development, along with the AHML resource. It should reflect:

the state of all objects erected with equity participation: their project documentation, all financial statements, the number of preschool institutions, photos of the stages of housing construction;
data on civil servants who control the work of developers, the results of their inspections;
facts of violation of the law and prosecution of the perpetrators, etc.

The creation of the official website of the compensation fund of equity holders is planned to be completed by the beginning of 2018.

Contributions to the compensation fund

Not later than three days before the conclusion of the first contract for preschool education in 2017, the insurer must transfer contributions in the form of funds to the compensation fund for shared construction.
Without the transfer of money, the contract is not registered by the state.
Involvement of equity holders' funds in business without registering a preschool institution is punishable by a fine from 0.5 to 1 million rubles.
The size of the contribution rate is 1.2% of the cost of a preschool educational institution from the entire construction object.
The revision of the rate is envisaged, but not more often than once a year and after the legislative approval of the new rate in the State Duma.

The rate of the compensation fund of equity holders in the amount of 1.2% does not raise objections from experts. The amount of contributions of 18-25 billion in the first years of the fund's existence is quite sufficient to cover the future problems of one or two regional contractors. The law does not prescribe where to get money from in case of a shortage of funds, it is possible that from the budget.

Compensation under contracts of previous years is not provided for by the new law. If the object under construction has at least one equity participation agreement signed according to the old scheme, it will not be included in the scope of the compensation fund.

Requirements for the developer

Central position of the new law on the compensation fund of equity holders is the imposition of stringent requirements for builders, which is why very few developers may remain on the shared construction market. The presentation of these requirements will begin at the conclusion of the DDU from 1.07. 2018 year.

Organizations conducting shared construction are not allowed to engage in other commercial activities, issue shares and securities; their official name must include the term “specialized developer”.
Companies with at least three years of experience in the construction of residential buildings and that have built at least 10 thousand square meters are allowed to raise funds from equity holders. m of housing.
During the entire construction, the company's account must have at least 10% of the funds that make up the cost of the object; she should not have debts during this period, except for construction loans for this object.
Developers will receive permission to build only one object at a time.
It is forbidden to spend funds of equity holders on the purchase of land for the rack, the creation of projects, engineering works... This point has caused amicable misunderstanding of both builders and experts, since any construction begins with these costs.
All funds of the construction company of equity participation must lie in one bank, which checks for each financial expense.
Those who manage a construction company must not have:

convictions for economic crimes;
be bankrupt;
be disqualified.

Compensation for damages

Losses to equity holders in the event of bankruptcy of a construction company are reimbursed from the compensation fund for shared construction in a specific manner.

At first .
Then the board of the compensation fund decides which option is more profitable: payment of losses to equity holders or completion of a residential facility. The resolution of the issue may take 6 months.
The decision on payment is posted on the website of the compensation fund of equity holders. The address where documents will be accepted and the working hours of employees are also indicated there. All information comes to the equity holders within 2 weeks after the decision is made.
List of documents for compensation: application; passport. Most often, they are provided to the bank, which accompanied the activities of the developer.
The money is paid to the equity holders within 10 days after the submission of the necessary papers.
For more early payments conscripts, seriously ill people, and people who are away are eligible.

The fund undertakes to pay the losses of equity holders in full.

Nuances

The amount of payments to equity holders is determined by multiplying the cost of one square meter housing on its area.

The area of housing for which money is returned from the compensation fund of equity holders should not exceed 120 m 2. State fund- for those who give their last savings to buy an apartment. Buyers of large apartments and luxury housing, according to legislators, can stand up for themselves.
The amount of compensation depends on the cost of housing, which is determined by the Ministry of Construction - it corresponds to the minimum market value, which differs by 30-40% from the actual value. Having received compensation at such rates, the equity holders lose part of their funds.

Analyzing the law, experts find many nuances and make various predictions. Thus, restrictive measures in relation to business will force small companies to leave the market of shared construction. Large companies to start new construction, you will have to create subsidiaries, and this will lead to additional costs... With the monopoly position of large developers, all this will lead to higher housing prices and hit the pockets of equity holders.

So far, one thing is clear: new law about the compensation fund is able to solve the problem of protecting equity holders. But it can cause a drop in business activity in the equity construction market.

The topic of defrauded real estate investors is still one of the most relevant in our country. The state is trying to take some steps to protect citizens who have suffered from unscrupulous developers. One of the real steps in this direction was the creation at the end of 2017 of the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction. The main idea of creating a fund is to accumulate funds at the expense of compulsory contributions from developers, and in case of bankruptcy of a developer, to compensate citizens - participants in shared construction for their financial losses.

What is the Fund for the Protection of the Rights of Citizens - Participants of Shared Construction

The Fund was established by the Government of the Russian Federation in accordance with Article 23.2 of the Federal Law "On Participation in Shared Construction apartment buildings and other real estate objects "N 214-FZ.

The registration of the Fund for the Protection of the Rights of Citizens - Participants of Shared Construction took place on October 20, 2017 in the form of a public company. The specified date is the day of the beginning of the Fund's activities.

What is the purpose of the Foundation? It was created to protect the rights and interests of citizens who became equity holders in the event that the developer goes bankrupt.

How are the funds of the Fund formed? This is done at the expense of compulsory contributions from those developers who, for the construction of apartment buildings, attract funds from citizens who are participants in shared construction.

What contributions to the Fund should developers make? Each developer must contribute to the Fund compulsory deductions(contributions) in the amount of 1.2 percent of the price agreed with the shareholder of each share participation agreement. In this case, the value of the above contribution may vary based on federal law, but not more often than once a year.

What are the functions of the Foundation? The main functions are:

formation of a compensation fund at the expense of compulsory deductions from developers;
control over the receipt of contributions from developers to the compensation fund;
payment of compensation to citizens - participants in shared construction under contracts for participation in shared construction in the event of the developer's bankruptcy;
financing of measures to complete the construction of unfinished objects;
accreditation of insolvency practitioners.

Reasons for the creation of the Fund for the Protection of the Rights of Citizens - Participants of Shared Construction

The foundation was not created from scratch. In 2016-17, the situation with defrauded equity holders worsened greatly. Popular unrest associated with the problems of new buildings and equity participation in the construction of housing has taken on a serious scale. It came to the shares of the Administration of the President of the Russian Federation.

Attempts of the Ministry of Construction of the Russian Federation to solve the problems on their own did not lead to anything.

As a result, the legislators have added to Law No. 214-FZ article 23.2 "Protection of the rights of citizens - participants in shared construction". This article provides for the creation of a compensation fund in order to protect the interests of equity holders. The principle of operation of the fund is approximately the same as the work of the Agency for Insurance of Citizens' Deposits in Banks. If everything works as planned, the defrauded equity holders will be able to receive payments from the fund in case of problems with the developer.

Thus, the main reason The creation of the Fund for the Protection of the Rights of Citizens - Participants of Shared Construction was an attempt by the state to somehow insure citizens who are trying to build housing for themselves using their own money.

Who is the Foundation intended to protect?

Recall that the Fund was registered on October 20, 2017. Therefore, all developers who, after that date, submit for state registration the first equity participation agreement they have concluded, immediately automatically become participants new program... They are obliged to transfer contributions to the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction in the amount of 1.2 percent of the price of each agreement on shared participation.

Note that developers, in the event of transferring contributions to the Fund, are not required to insure their liability in insurance companies and / or receive a guarantee from banks.

We would like to draw your attention to one important circumstance. If the developer of the house has submitted the first contract of equity participation for state registration before 20.10.2017, inclusive (that is, before the day of registration of the Fund), then in order to register such an agreement and all subsequent agreements in relation to this house, the developer must submit to the registering authority insurance contracts for their liability, or bank guarantees for failure to fulfill its obligations to transfer residential premises under an equity participation agreement. Equity participation agreements will not be registered without the submission of these documents.

Thus, today two situations are possible:

situation 1: the developer does not pay contributions to the Fund, because transferred the first equity participation agreement for registration before 20.10.2017;
situation 2: the developer pays contributions to the Fund, because the first equity participation agreement (and, accordingly, all subsequent ones) was registered after 20.10.2017.

Let's consider these situations in more detail.

Situation 1- the developer does not pay contributions to the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction.

If the developer has insured his liability to equity holders and / or his obligations to them are secured by a bank guarantee, then in the event of the developer's bankruptcy or similar problems, the equity holders can count on adequate compensation from an insurance company or bank.

If the developer did not insure his liability and does not have a guarantee from the bank, then equity holders can count on compensation payments only within the framework of bankruptcy measures. Whether some money will reach the equity holders, and to what extent, is a question.

Situation 2- the developer pays contributions to the Fund.

In this situation, the interests of equity holders are already insured more reliably, since in the event of the developer's bankruptcy, the Citizens Rights Protection Fund will make payments to participants in shared construction.

What payments are made to participants in shared construction from the Fund for the Protection of Citizens' Rights

So, the Fund accumulates funds transferred by the developer. If the developer completes the building, the shareholders receive apartments, then everything is fine. The funds transferred by the developer remain in the Fund.

If the developer is declared bankrupt before the completion of construction, then each shareholder will be able to expect to receive compensation in the amount of the cost of up to 120 square meters of housing. That is, if a shareholder paid for the construction of an apartment with an area of more than 120 square meters, then he will be compensated for a smaller amount, but equivalent to the specified area.

In the rules for payments from the Fund, an analogy with insurance is clearly visible bank deposits... Indeed, a depositor in the event of bankruptcy of a bank can receive from the Deposit Insurance Agency the amount of his deposit, but not more than 1.4 million rubles.

Recall that payments from the Fund are only possible for equity holders of the developer who began registering equity participation agreements after October 20, 2017 and, accordingly, began to deduct contributions to the Fund for the Protection of the Rights of Participants in Shared Construction.

Separately, we note that the Fund, in order to fulfill the function of protecting the rights of citizens who are participants in shared construction, will make payments only on condition of recognition arbitration court the developer is bankrupt, opening in relation to its bankruptcy proceedings and the presence of evidence of payment by the developer mandatory contributions to the Fund.

The same equity holders who do not fall under the program with the Fund (their developer began registering equity participation agreements before October 20, 2017), in the event of the developer's bankruptcy, will be able to apply for insurance payments(if the developer has insured his liability), or payments from the guarantor (if any).

Amounts and procedure for payments to equity holders from the Fund

The procedure for payments from the Fund is established by the Decree of the Government of the Russian Federation dated 07.10.2017 No. 1233.

In order to receive payments, participants in shared construction at their meeting must decide to receive compensation from the Fund. After that, the Fund, within 14 days from the date of the decision by the meeting, posts on its official website a message on the date of the start of receiving applications from citizens for payment of compensation, as well as on the place, time, form and procedure for accepting applications.

An important detail. Citizens no longer have to wait for the completion of the developer's bankruptcy proceedings. They have the right to apply for compensation before this completion (which can drag on for years).

When applying for compensation, each shareholder must submit:

application for payment of compensation in the form approved by the Fund;
passport;
an extract from the register of creditors' claims on the amount, composition and order of satisfaction of claims.

Payment of compensation from the Fund is carried out within 10 working days from the date of submission of all necessary documents.

However, the scheme for paying money to equity holders is not the only one. The fund can send money to complete the construction started. But to make such a decision, the degree of readiness of the house, the amount of funds provided and the time required to complete the construction, the number of equity participation agreements concluded are taken into account.

If the Fund follows this path, then it will have to provide funds for the completion of the construction to the chosen one by competition legal entity intending to become the acquirer of the construction in progress, land plot, and fulfill the obligations of the developer to the equity holders, that is, to finish building the house.

What is the amount of compensation for each shareholder. The amount of compensation is calculated as the product of the total area of all residential premises to be transferred to a citizen - a participant in shared construction and an indicator of the average market value of 1 sq. m of the total living space. In this case, bets on primary market housing in the corresponding constituent entity of the Russian Federation, the value of which is determined in the period in which the contract was concluded.

But there is a significant limitation. total area taken into account in determining the compensation payment may not exceed 120 square meters. This means that if the shareholder intended to buy an apartment with an area of more than 120 square meters, and, accordingly, made full payment under the equity participation agreement, then he will not receive money for meters exceeding the specified limit.

What will happen after July 1, 2018

It is assumed that from July 1, 2018, those equity holders who conclude agreements on equity participation in new buildings, for the construction of which a permit will be issued from July 1, 2018, either will not get into a situation at all when the developer delays construction or goes bankrupt, or (if there are serious problems) will receive a compensation payment from the Fund.

Thus, with the creation of the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction and with the introduction of new requirements for developers, it is expected that their activities will become more transparent, the material base will become more stable, and control over the activities of each developer will increase. Therefore, after the conclusion of the equity participation agreement, future equity holders will be protected more reliably.

There is information that in the future in Russia there may be a transition to a new scheme for the acquisition of housing under construction. Instead of equity construction, there will be so-called project financing. At the end of 2017, the Government of the Russian Federation approved a plan for a phased transition from equity to project financing of housing construction.

Responsibility of construction companies The regulation of the new legislation on the compensation fund for shared construction defines strict requirements for the responsibility of developers. From July 2018, they will begin to operate:

now companies will be more limited in their activities, they will only have to deal with construction, and not related business;
Investors' funds can be attracted by those developers who have more than 3 years of experience, who have erected about 10 square meters. m. residential buildings;
the firm must have significant authorized capital about 10% of the cost of the house;
developers will be allowed to build only one object;
the company's finances should be kept in a single account with a banking institution that controls all financial costs.

Also, the requirements relate to the moral side of officials.

The Fund for the Protection of Shareholders Started Its Work

The law assumes that from January 2017, upon registration of each new Contract of Equity Participation, Rosreestr will send to the fund a request for payment or non-payment of mandatory contributions under this contract. Thus, Developers will be encouraged to pay contributions to the compensation fund on time, and real estate investors will be provided with real financial protection of their rights.

Attention

But there is one caveat. The Developer's obligation to transfer a contribution to the compensation fund arises only if the first Equity Participation Agreement (DSA) for the construction of a new house is registered after January 1, 2017 (see the link above on the website of the Government of the Russian Federation). This is precisely the first agreement on construction project.

That is, the legislators allowed not to pay deductions to the fund for those Developers who, at the time of January 1, 2017, already had registered sales of apartments under the DDU for any project.

Article 10.Mandatory contributions (contributions) of developers to the compensation fund

Moreover, guarantees are not given by a private bank or an insurer, but by a PPK - part of a state structure. Information on shared construction will be posted on the official website of the Unified Institute for Housing Development, along with the AHML resource.
It should reflect:

the condition of all objects erected with equity participation: their project documentation, all financial statements, the number of preschool institutions, photos of the stages of housing construction;
data on civil servants who control the work of developers, the results of their inspections;
facts of violation of the law and bringing to justice the perpetrators, etc.

Equity Construction Compensation Fund

This point has caused amicable misunderstanding of both builders and experts, since any construction begins with these costs.

All funds of the construction company of equity participation must lie in one bank, which checks for each financial expense.
Those who manage a construction company must not have:

convictions for economic crimes;
be bankrupt;
be disqualified.

Reimbursement of losses Losses to equity holders in the event of bankruptcy of a construction company are reimbursed from the compensation fund for shared construction in a specific manner.

First, the arbitration court establishes the fact of bankruptcy.
Then the board of the compensation fund decides which option is more profitable: payment of losses to equity holders or completion of a residential facility.

The action is not quick, it can drag on for six months. The accepted verdict will be posted on the website of the investor fund. It also indicates the address data, where the documentation is accepted, the schedule of reception by employees.

Info

Investors will receive information about the decree within 14 days after its approval. A package of documentation, passport, application, provide in banking institution, which accompanied the work of the construction company.

Having provided all the necessary papers, the payment of compensation is expected for 10 days. For some category of citizens, the payment of funds may occur a little earlier.

Important

The fund undertakes to pay losses to investors in accordance with the established rules. Equity houses under construction signed according to the old scheme, in the event of ruin, are not protected by the compensation fund.

The new legislation does not provide for the payment of losses for previously concluded preschool educational institutions.

Compensation Fund for the Protection of the Rights of Shareholders

The amount of contributions of 18-25 billion in the first years of the fund's existence is quite sufficient to cover the future problems of one or two regional contractors. The law does not prescribe where to get money from in case of a shortage of funds, it is possible that from the budget.

Compensation under contracts of previous years is not provided for by the new law. If the object under construction has at least one equity participation agreement signed according to the old scheme, it will not be included in the scope of the compensation fund. Requirements for the developer The central provision of the new law on the compensation fund of equity holders is to impose strict requirements on builders, which may leave very few developers on the shared construction market. The presentation of these requirements will begin at the conclusion of the DDU from 1.07.

2018 year.

Equity construction compensation fund official website

In the event of the bankruptcy of a construction company, the cost of an insurance policy or interest for a surety in the bank could not cover the losses of all owners of shared construction contracts, all the more, they were not enough to complete the problem object. The number of unfinished objects and defrauded equity holders continued to grow.

The new mechanism is convenient, first of all, for developers.
They do not need to insure every contract of shared construction; they do not need to look for a suitable insurance company. It is enough to transfer a certain percentage of the transaction to the compensation fund of equity holders and obtain permission to register it.
The money received from the developers is the reserve from which the losses of the equity holders will be paid in the event of the ruin of their construction company.
The same reserve will finance the company that will complete the construction of the problem object.

Fund for the Protection of the Rights of Citizens - Participants in Shared Construction Official Site

The funds accumulated in this fund will be used exclusively to pay compensation to defrauded equity holders in the event of the Developer's bankruptcy, or to finance the completion of construction. In the latter case, it may be financial aid or a loan to a new Developer, who will undertake the obligations to complete the construction of the problem object.

It is prohibited to spend the funds of the fund for other purposes. For new equity holders, this means a significant reduction in the risk of investments in the purchase of apartments in new buildings.

First, there is a real chance to finish building the house, even when the Developer goes bankrupt. Secondly, the mechanism itself compensation payments it has become much easier and clearer for equity holders (in comparison with liability insurance).

Thirdly, these funds will be managed not by private insurance companies, but by the state structure.
Main Functions The Shared Construction Fund has two main tasks - to help equity holders in the event of bankruptcy of developers and to complete problem construction. Its functions are related to these tasks.

Keep records and control of contributions received from developers.
Organize bankruptcy arbitration for construction companies that have made contributions to the fund.
Compensation for losses to equity holders.
Financing and lending to a company that has committed to complete the problem object.
Placement of free funds in assets and on bank deposits, in mortgage securities and government bonds.

The mechanism of work of the compensation fund The mechanism of insurance of liability of developers, which has existed since 2014, was recognized as ineffective by both independent experts and government agencies.

Equity construction fund official website

The full title of the law: "On a public law company to protect the rights of citizens participating in shared construction in the event of insolvency (bankruptcy) of developers and on amendments to certain legislative acts of the Russian Federation." included in the area of action of the state "Agency for Housing Mortgage Insurance" (AHML). The Ministry of Construction became the founder, it owns a number of important amendments to change the status of the compensation fund of equity holders. The Duma approved the status of a public law company (PPK) for the "Fund for the Protection of the Rights of Citizens - Participants in Shared Construction" with functions and powers characteristic of state power. The company is accountable to the President of Russia, control over financial activities is exercised by representatives of both chambers of parliament and the Accounts Chamber of the Russian Federation.

Shared construction fund official website vacancies

The resolution of the issue may take 6 months.

The decision on payment is posted on the website of the compensation fund of equity holders. The address where documents will be accepted and the working hours of employees are also indicated there.
All information comes to the equity holders within 2 weeks after the decision is made.
List of documents for compensation: application; passport. Most often, they are provided to the bank, which accompanied the activities of the developer.
The money is paid to the equity holders within 10 days after the submission of the necessary papers.
The conscripts, the seriously ill, and people who are away are eligible for earlier payments.

The fund undertakes to pay the losses of equity holders in full.

Nuances The size of payments to equity holders is determined by multiplying the cost of one square meter of housing by its area.

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