The highlight of the urban renewal field is a PINUY-BINUY process, and our firm has for many years represented entrepreneurs and apartment owners in these projects. The extensive knowledge and experience we have gained translates into a comprehensive and thorough legal response, tailored to each client according to his needs. We are pleased that we can take part in the renewal of old and neglected areas of the country that are becoming new, green, and advanced neighborhoods.
Aviv Tasa’s law firm specializes in the field of urban renewal and provides its clients with legal advice, representation, and legal guidance in PINUY-BINUY procedures and in the TAMA 38 proceedings. We believe in personal and courteous service, uncompromising professionalism, and attention to detail, from the biggest to the smallest.
Our Firm Provides Many Services in this Field & we Address, Among other things, the Following:
Drawing up a PINUY-BINUY agreement is a complex task, requiring knowledge in this area, thoroughness, and precision, to include in all the aspects of the contract. It should be borne in mind that a good and comprehensive agreement will pave the way for a more efficient procedure, without acute disputes between the apartment owners and the developer, so it is very important that the agreement be drafted by a ministry specializing in urban renewal in general and PINUY-BINUY procedures in particular. When creating the agreement, we emphasize, among other things, two key issues:
Compensation to the Parties:
Apartment owners will be given a new and larger apartment and will enjoy a well-kept living environment, with new infrastructure and different public buildings. The developer will receive on every apartment in a project that he demolishes and rebuilds, building rights for three apartments. One of them, of course, belongs to the tenant while the other two are owned by the developer and he can sell them in the free market.
Option to Cancel the Agreement:
With regard to the process of PINUY-BINUY, the implementation of the project depends not only on the wishes of the parties, but also on third parties and headed by the local authority. This should confirm the new request filed by the developer and, if not, could compromise the economic viability of the transaction to either party.
PINUY-BINUY Compared to TAMA 38/2
Often, there is a debate among apartment owners as to whether to join the PINUY-BINUY process or precisely to the TAMA 38/2 process. The conceptual basis is the same: demolition and rebuilding of an old residential building, with better infrastructure and large and renovated apartments. There are significant differences, including the time it takes to issue permits and the duration of construction work, there is a difference in economic risks,
In return, the apartment owners will receive every project and more. As a law office specializing in urban renewal, we are well versed in these procedures, in all aspects, and can therefore provide the apartment owners with all the information, focus on the differences between the two routes and assist them in making the right decision for them, according to the circumstances of the case.
PINUY-BINUY Lawyer - Selection of Tenant's Representation
As part of the PINUY-BINUY process, the apartment owners must appoint a representative from each building who will represent all the apartment owners with the professional bodies. In fact, the delegation is the one who will hire their services, including the lawyer and the entrepreneur. The delegation is appointed as part of a general meeting and its existence is designed to save every tenant in the project the need to personally negotiate with the professionals. When representing the apartment owners in a PINUY-BINUY venture, we are at the disposal of the representative for questions and problems that arise throughout the project and we are the factor that links it with the developer. In addition, in the event of disagreements between the members of the delegation, we are working to assist in this matter to enable the delegation to return to its effective conduct.
When we represent the developer in a PINUY-BINUY project, our office staff continuously updates the apartment owner’s representative and works with efficient and professional communication, in order to optimally complete the procedure.
The article was written by the law firm of Aviv Tasa.
Aviv Tasa – Real Estate Lawyer, Real Estate Taxation and Urban Renewal.
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