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Assuring Apartment Purchasers’ Money

7 November 2019 / Barnea

Israeli’s Ministry of Construction and Housing recently imposed a NIS 6.5 million financial sanction on the developer of a TAMA 38 project in Kiryat Bialik. The developer was fined after failing to produce a guarantee to purchasers of apartments in the project for funds they had paid toward the unit price, as required by the Assurance of Investments Law.

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Categories: Real Estate | Real Estate Transactions

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Client updates / Guarantee