HAND OVER AND WARRANTY
The seller of the apartment is liable to the buyer of the apartment and the housing company for the contractuality of the building they have built. In order to assess the contractuality of the apartment, the buyer shall inspect the apartment at the time of trade. In the case of an apartment sold during construction phase, the apartment shall be inspected in connection with its assignment. In this context, the purpose is to check the apartment visually to see that it corresponds to the quality referred to in the sales brochure and deed.
The buyers are provided with the opportunity to inspect the apartment prior its commissioning. During the inspection, any deviations and/or shortcomings, if any, shall be communicated to the construction company, for example in written using, for example, a provided template.
The shareholders’ meeting shall be conducted within 3 months after the construction has been completed. During this meeting the administration of the housing company to be transferred from the construction company/developer to the shareholders (apartment buyers). The financial statement shall be officially presented and the board of directors of the housing company to be nominated.
After commissioning the apartment, the seller shall organise an annual inspection consistent with the Housing Transactions Act, which shall be performed 12-15 months after the building is approved by authorities. The seller informs of the time and date of the inspection no later than one month before it is carried out. During the annual inspections, the buyer shall notify of the faults detected in the apartment during the first year.
Even after the annual inspection, the seller is liable for such faults and defects, which the buyer cannot be assumed to have detected at the latest in the annual inspection. The buyer shall notify the seller of such faults in reasonable time from detecting the fault.