Maternity capital is a sum of money that cannot be cashed out. This document is issued to every woman, citizen of the Russian Federation, after the birth of her second or subsequent children until 31.12.2016. The amount of maternity capital is indexed annually and in 2011 it is 365 thousand 700 rubles.
Instructions
Step 1
What can you spend your maternity capital on? The law provides for three possibilities of using the document. After you are given a certificate in your hands at the Pension Fund branch, you can decide where it is better to send the money.
Step 2
With the help of maternity capital, you can improve your living conditions. There are a number of nuances here. Firstly, you will not be able to use the money until the child reaches the age of three, secondly, the funds will be transferred to the recipient's bank account directly from the Pension Fund, and thirdly, in a new apartment or house it will be necessary to register a share ownership of the child.
Step 3
In addition, there is a requirement for the acquired housing, it must be located on the territory of the Russian Federation. You can also pay with equity and mortgage. In this case, it is necessary to prepare an apartment purchase and sale agreement, a mortgage lending agreement and a certificate of ownership of the apartment. Funds for housing purchased with the help of a mortgage are transferred to the bank account for payment of interest before the child turns 3 years old.
Step 4
You can use the maternity capital for the construction of a house, purchase of building materials, home renovation and a significant increase in the area of private ownership. In this case, 50% of the funds are reimbursed immediately after the documents confirming the purchase are submitted to the Pension Fund. And the second part of the money is transferred to the account of the person involved in the construction, after providing them with documents confirming the improvement of housing conditions. The home ownership itself should be formalized taking into account the proportion of children. That is, you will have to draw up an agreement that will indicate the share of ownership of the children.
Step 5
In addition, you can transfer money from the certificate for the formation of the funded part of the mother's pension. This method of implementing maternity capital can only be used voluntarily at the request of the mother of the child.
Step 6
You can realize maternity capital in another way. So, with the help of money, you can pay for any child's education, kindergarten, school or university. You choose the educational institution yourself. This right can be exercised not only in relation to the child for whom the capital was received. If there are more children in the family, you can pay for the education of any of them.
Step 7
The only condition set by the legislator in the last method of capital realization is that the child should not be more than 25 years old at the time of the start of education. Maternity capital can be spent on all the needs provided for by law. It can be shared, implemented gradually, or not used at all. It is your right.
