Maternity capital will be allowed to be spent for building a house using escrow.
The State Duma of the Russian Federation has adopted amendments to legislation that allow the use of maternity capital for the construction of their own home. This wonderful opportunity opens up new prospects for many families.
Every family now has the opportunity to invest maternity capital or part of it in the construction of housing under a contract using an escrow account. This means that the money will be kept in a special bank account until the successful completion of all obligations under the agreement. Thus, you can be sure that your funds will not be squandered or stolen, but will be used specifically for the construction of your house.
This amendment opens up the opportunity for many families to realize their dream of owning their own home. Now you will be able to choose a contractor for the construction of a house and be sure that your investments will be used effectively and purposefully.
If you have any questions about using maternity capital to build a house using an escrow account, be sure to consult a specialist or a bank to get all the necessary information.
We wish you good luck in implementing your housing plans and hope that the new opportunities offered by the legislation will help you realize your dreams of your own cozy home.
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