Get a certificate that will allow you to dispose of this payment, it's easy. Meanwhile, using money is not always so simple. This is due to the fact that with the expenditure of this financial aid, it is necessary to allocate children a share in the mother's capital. What this means and how this procedure is carried out, we will tell you in our article.
What share can be allocated to children on the mother's capital?
The allocation of children in shares with the use of maternity capital is necessary in the event that this payment is directed to purchase a residential apartment or a house. The Russian Federation, like any other law-governed state, is guarding a minor child, so the law provides for special measures to protect it from the risk of being left homeless under certain circumstances.
That is why when buying a home with the involvement of parent capital for this purpose , parents are obliged to allocate their share to all underage children. There are several ways to do this. In particular, when buying a home without borrowing money, allocating a share in the apartment to children when using the parent capital is reflected in the stage of registration of property.
At the same time, the size of a share for one child is not regulated by legislation, however, the allocated area of a dwelling should not be lower than the norm envisaged in this region.