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.
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. Continue reading →
If you plan to build or renovate a house, you can finance this with your mortgage. The money will then go into a building deposit that can be used for a maximum of two years. Continue reading →
How much should I offer?
When buying a house, it's not just about finding the perfect home, but also about navigating the complex purchasing process. Luckily, there's Walter, your reliable digital purchasing agent who assists you with every step you need to take. Continue reading →