A notary prepares a division deed to divide a building into several apartment rights. This deed states which apartment rights there are and where they are situated. Each separate dwelling in the building then falls under an apartment right.
Division deed and the VvE
An owners' association (VvE) is also established in the deed of division, and the VvE's regulations are established. What must be included in the deed of division is laid down by law (Article 5:111 of the Civil Code). For example, it must contain a description of the building, name the apartments and determine each owner's share.
The regulations of the demerger deed
Furthermore, the division deed contains regulations describing which parts of the building are common and which are for private use. The regulations are usually based on one of the model regulations prepared by professional groups of notaries. The regulations also describe the rights and obligations of the apartment owners.
Subdivision drawing of the subdivision deed
Reference is often made to a division drawing, which provides a visual representation of the division of the building into apartment rights. If there is a contradiction between the drawing and the division deed, the court must determine which takes precedence.
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Security deposit
The deposit is the amount you owe the seller if you dissolve the sale beyond the resolutive conditions and the legal cooling-off period.
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Asbestos clause
If an asbestos clause is part of the purchase contract, the seller is not liable for any asbestos in the home. If asbestos is later discovered, the buyer or owner is responsible for any removal and all costs. So it is essential to research the presence of asbestos before buying a home.
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Age clause
An age clause protects the sellers when the home is sold from liability for hidden defects in the home due to its age. These defects were not previously known to the sellers at the time of the sale.