Maternity capital today is a very tangible state support for many large and young families with two or more children. The legal framework allows for the use of concessional funds in order to:

• Improve the living conditions of the family in the form of major repairs, including reconstruction, purchase of finished housing or its share, as well as the construction of a private residential building on a plot of land;
• Pay for the education of the child in paid preschool, school and higher educational institutions with a state license, as well as accommodation in a hostel on the territory of the Russian Federation;
• Increase savings for the pension of the mother or, in some exceptional cases, of the father;
• Purchase the necessary aids for children with disabilities.

The above categories have some limitations. For example, finding housing only within the borders of Russia owned by family members (only spouses and children), paying for education for children under twenty-five years old, compulsory Russian citizenship, as well as the period after which you can use the monetary assistance of maternity capital.

In fact, the time frame in which state aid can be used for the same purchase of housing depends on the age of the children and the purpose of the payment.

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Who is eligible?

Before considering any set period, it is important to consider some of the nuances of obtaining the certificate itself. This is especially important in the subsequent transaction or mortgage for the purchase of housing. The current legislation and with it the conditions of the social program for the accrual of maternity capital allow you to issue a certificate in the name of:

Particular attention should be paid to such rules for families in which only one spouse has Russian citizenship or in which the mother for some reason cannot get a mortgage. This is due to the fact that it is possible to use the maternity capital to buy a home only when the mortgage, the sale and purchase agreement and the ownership right are registered in the name of the recipient of the certificate, regardless of whether the deadline has passed and all requirements have been met. Moreover, one should not forget that you cannot cash out the certificate.

How much to wait?

Of course, one of the exciting questions is after what time and how long it is possible to use the issued certificate for relying on maternity capital according to the law. Speaking of increasing pension savings and paying for educational institutions, this period is three years after the birth of the second child.

However, when the funds go to buy a home, the following can be noted:

The term for consideration of an application and documents submitted to the Pension Fund institution at the place of residence of a family with children is approximately one month. Further, within five working days after the decision is made, the responsible officer must send the applicant a written notice of what decision was made.

Shouldn't be neglected

Given the fact that the term is not the only strict limitation that can be attributed to some kind of obstacles for, citizens need to take into account the accompanying nuances. For example, there are cases when parents tried to spend a certificate to pay for consumer loans, issuing them for the purchase of any housing, sometimes not at all suitable for habitation. Since today there is no clear supervisory authority, it is necessary to indicate in the contracts what the loan was taken for. If there is no such mark in the documents, it will be necessary to prove that the loan was taken for the purchase of housing in court.

You should also not conclude contracts that talk about installments. Only a loan can be repaid with maternity capital when it comes to real estate.

Taking into account the recent legislative changes and the fact that the duration of the social program for the payment of maternity capital has been extended, everything must be carefully planned. We have been talking about it for several years, so it is better to use it while such an opportunity is still available.

What to be prepared for?

There is no time limit for obtaining a certificate. It can be issued not immediately after the birth of the second child, but after the birth or adoption of the third, fourth. Also, the period of use of the received certificate for maternity capital relying on the law is not limited. That is, it is not necessary to spend it immediately after three years. However, this would be illogical, given the fact that one of the targeted purposes of this state aid is to pay for education. Although here there is an interesting point and it lies in the fact that it is possible to pay for tuition with the help of maternity capital only until the child reaches twenty-five years of age.

Whichever purpose is chosen, the recipient of the certificate will need to prepare all the necessary documents in advance, no matter how long they have to wait. The list of required papers will depend on the individual case and must confirm its focus so that employees of the Pension Fund have no doubts about where the budget funds are going.

In case of providing an incomplete list or inaccurate information in the documents, the applicant will be refused. And if you try to cheat and cash out funds, you can even be deprived of freedom for several years.

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