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Pay attention to local management policy and prevent hidden transaction risk

  • Categories:Real Estate
  • Author:北京市君都律师事务所
  • Origin:北京市君都律师事务所
  • Time of issue:2020-11-25 17:27
  • Views:

Pay attention to local management policy and prevent hidden transaction risk

(Summary description)[Abstract] in May 2018, the exchange was entrusted by a company to provide special legal services for its six cemetery equity acquisition projects in Xinjiang, Fujian, Zhejiang and other places.

  • Categories:Real Estate
  • Author:北京市君都律师事务所
  • Origin:北京市君都律师事务所
  • Time of issue:2020-11-25 17:27
  • Views:
Information

[Abstract]

In May, 2018, the exchange was entrusted by a company to provide special legal services for its six cemetery equity acquisition projects in Xinjiang, Fujian, Zhejiang and other places.

[Key words] equity acquisition of ecological cemetery

[Project information]

The client intends to purchase six cemetery projects in Xinjiang, Fujian, Zhejiang and other places through equity acquisition. Among the proposed mausoleums, there are both projects that have already started to be sold, and there are projects that are applying for approval. In addition, six projects belong to different subjects. Besides due diligence on the project itself, due diligence is also required for the main companies of each cemetery.

[Project characteristics]

1. the project demonstration shall be checked one by one to meet the national requirements for the legitimacy of cemetery projects. According to the current law, the commercial cemetery needs to obtain the provincial Civil Affairs Department's annotation and handle the land use procedures according to law. In addition, no cemetery shall be built in scenic spots. Therefore, it is necessary to check the possible legal risks of the project one by one.

2. the requirements of management regulations for cemetery projects vary from place to place, and the legitimacy and compliance of local projects should be checked in combination with local administrative regulations. For example, Fujian Province requires annual inspection of commercial cemeteries, and those who fail to pass the annual inspection will be rectified, but there is no such requirement in some areas of Zhejiang Province.

3. there are differences in the development stage and potential of each project. It is necessary to evaluate one by one according to the business objectives of the client. For example, for a project in Fujian Province, some of the construction areas approved by the Ministry of civil affairs have been adjusted by the land planning department to basic farmland and can no longer be used for Cemetery development because of the lack of timely land use procedures.

[Lawyer response]

After accepting the entrustment, the Institute organized a number of professional lawyers to conduct legal due diligence in the places where the projects are located, and to the civil affairs and land administration departments in the project location and the project location. The Institute conducted a comprehensive sorting and investigation from the historical evolution of the project, the acquisition of legal compliance procedures, the development and construction of the project, etc., which provided a basis for the client to select the project Legal support for benefits.

[Achievements and summary of legal services]

As of december2018, in order to properly complete the project, our lawyers have issued a legal due diligence report, issued special legal opinions on the main legal risks existing in the project, and drafted the preliminary trading framework.

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