On July 1, 2022, the so-called “new developers’ act” will come into force, which will change both the process of acquiring residential property from a developer itself, as well as expand the catalog of entities that will be considered a developer. For developers, this means additional obligations and restrictions, for buyers, guarantees and protection.
The firm has been providing legal advice on the implementation of the legislation to our developer clients since May 2022. During this time, the firm’s attorneys have analyzed the regulations, as well as drafted model documents to help both developers and home buyers find their way in the changing reality.