Underwriting of real estate promotion guarantee and its implications for the real estate project in the process of completion

Abstract

The underwriting of real estate promotion guarantee with the Guarantee and Mutual Guarantee Fund is an obligation imposed on the real estate promoter under the risk of withdrawing his approval, since the subscription of the real estate promotion guarantee in accordance with the conditions specified by law has important legal effects in order to guarantee the rights of the acquirer in the real estate upgrade project, whether through compensation for payments made by the buyers For the real estate promoter in breach of his obligations or following up on the completion of the buildings whose foundations have been completed at least and the failure of the real estate promotion guarantee subscription results in severe effects that will be difficult to correct in the future