When buying a property, a notary transaction needs to be signed and the involved parties should appear before a notary to sign the notarial deed. A competent notary is usually from the area where the property is situated.
The seller must present the property documents – in original – to the notary, from which the right of ownership is proven. The notary checks if the real estate is in its area and:
- The notary checks the identity, capacity and representative authority of the person(s) who appear before him
- The notary checks if there are no legal obstacles to the transfer of the property
- The notary ensures that the submitted draft deed follows the legal requirements
- The notary checks if the seller is the actual owner of the property
- The notary reads the contents of the notary deed to the parties and the parties confirm to the notary their statements, reflected in the draft notary deed
- The notarial deed is signed by the parties and by the notary
- The notary supplies the parties with a copy of the notarial deed
On the day of the transaction, the notary will submit the notarial deed to the Registry office at the municipality where the property is located.
The Registrar shall then order the entry of the deed in the Property Register to the Registry Agency, which guarantees the buyer in the event of any claims of third parties. From this moment on, the buyer is fully entitled to have mortgages, renting out the property, sale etc.
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