Identify sellers and buyers
- Buying an apartment in Israel
- Contract Structure
The parties should register according to their first and last name, as well as their identification number, as stated on the ID card.
If the seller is a corporation, it will be registered according to the name of the corporation and its number as indicated in the Registrar of Companies or the Registrar of Associations.
By law, only a basic connection between the name that appears in the contract and the signer is sufficient. At the technical level, however, the manner in which the names of the parties are registered is of great importance.
The manner in which the names of the parties in the contract will be registered will accompany the parties until the end of the transaction, i.e., until the transfer of rights and the registration of the apartment in the registry in the name of the buyer.
Sometimes there is a difference between the names of the sellers as indicated on the identity card and the way they appear in the wording of the ‘Tabu’, and sometimes there is a difference between the two and how they appear on the driver’s license and any other official certificate.
The name on the contract should equal his identity card.