Ministry of Construction of the Republic of Tatarstan: New law on the use of escrow accounts for residential housing protects the rights of citizens
The Ministry of Construction, Architecture and Housing and Communal Services of the Republic of Tatarstan held a meeting with the participation of developers and government customers on topical issues of the construction industry of Tatarstan.
Ilshat Gimaev, Deputy Minister of Construction, Architecture and Housing and Communal Services of the Republic of Tatarstan, who held the meeting, reminded the audience that Federal Law No. 186-FZ "On the Construction of Residential Buildings under Construction Contracts using Escrow Accounts" entered into force on March 1, 2025. He drew attention to the main provisions and advantages of the federal law on the use of escrow accounts in individual housing construction
The law was adopted to increase the availability of individual housing, transparency of the individual housing construction (IHS) market, as well as to create an analogue of project financing for professional contractors in the private housing construction segment.
This legal act provides for the disclosure of information about the contractor and the construction of residential housing facilities in the unified housing construction information system. This makes it possible to protect the rights of citizens who invest in residential housing and organizations that provide mortgage loans or loans to contractors and customers.
The scheme for the construction of residential housing using escrow accounts is similar to the scheme for the construction of apartment buildings. The buyer of the house transfers money to a special account in a banking organization – escrow residential housing. The bank gradually issues a loan for the construction of residential housing. After signing the acceptance certificate, the money is transferred by the bank to the developer's account.
It should be noted that even before the entry into force of this law, Dom.RF Bank began to apply its provisions. During the meeting, Irina Yashina, Director of Corporate Business at Bank DOM.RF JSC, and her colleagues spoke in detail about trends in the housing sector, financing mechanisms and conditions, requirements for contractors, mortgage products in the field of residential housing and the bank's deposits.
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