In real estate transactions, a deed of delivery, also known as a deed of conveyance or simply a deed, is a crucial legal document that establishes the transfer of ownership from the seller to the buyer.
This document serves as proof of the sale and outlines the terms and conditions of the transfer, such as the price paid, the property description, and any relevant encumbrances or liens.
What is the deed of delivery?
The deed of delivery is drawn up after the purchase agreement has been signed and the resolutive conditions have expired. The deed of delivery is also known as the deed of transfer. The deed of transfer is the deed by which the house is officially passed on to you and is therefore registered in your name.
What is in the deed of transfer?
The deed contains all the agreements made and signed in the provisional sales contract. The contents must therefore be consistent with the previously drafted purchase agreement.
Among other things, it contains:
- the land registry details of the property
- the name, address, and contact details of the buyer and the seller
- price of the property
- terms and conditions of the sale
- payment details
Who executes the deed of transfer?
The notary draws up the transfer deed; the transfer usually occurs at the notary's office. The notary will check several things to ensure the transfer will be completed properly. The notary may only sign the deed after the expired three-day statutory cooling-off period. Once the notary has registered the deed of delivery in the Kadaster (the Land Registry), you are officially the house owner.
What are the requirements for the deed of delivery?
There are some requirements for the deed of delivery, including the fact that the buyer and seller must sign the deed and that the seller must transfer ownership to the buyer. Also, all payments specified in the deed must be made.
What are the costs of the deed of transfer?
The cost of drawing up a deed will vary from one notary to another; on average, you can expect to pay around €500. The expenses are not income tax deductible.
Buying? Book your free call
Pick a day and time that suits you. We'll get to know what you're looking for and show you exactly how we help you buy your next home — no pressure, entirely at your pace.
Loading available times...
Continue reading
All terms-
Anti-speculation clause
An anti-speculation clause is a clause in a purchase agreement by which the seller limits the buyer's ability to resell the house quickly for a profit.
-
Multi-year maintenance plan (MJOP)
If you are buying a home, the home may be part of an Owners' Association (VvE). VvE's are required to save for maintenance in the reserve fund. As a homebuyer, it is nice if the VvE has a MJOP.
-
VvE apartment owners association
An essential aspect of buying an apartment is the "association of owners (VvE). This is an association that manages the building in which the apartment is located. Knowing how the VvE functions before buying an apartment is essential because it can affect your home and financial situation.