The last stage of the real estate purchase is signing the deed and registering it in the Property Register. In order to get to the signing of a deed for real estate you need to have carried out a number of actions, to have negotiated, in some cases to have paid amounts under a preliminary contract/stop deposit, to have checked the status of the property, to have been approved for a loan and so on.

The whole procedure is sometimes long, complicated and tedious for users. That is why you can turn to a lawyer from Legal Frame law firm to accompany and help you throughout the process of buying real estate.

How is a deed prepared?

Most often in practice, a deed is drawn up by the notary. However, the draft can be drafted by an attorney to spell out in it all the client’s legally permissible wishes.

The deed must contain a description of the property. In order to describe the property correctly, it is necessary to be consistent with the previous title deed, cadastral sketches and schemes. The deed shall also record the amount of the tax assessment. The description must be made accurately, without contradictions between the different documents. The property must be individualized according to the cadastral identifier – this is a unique number by which the immovable property is indicated. The deed must also describe the property’s neighbours, adjoining parts and the exact area of the property.

As adjoining premises we can include storage rooms, basements and attics. Although they do not represent much interest, they come into the ownership of the new owner.

You should also pay attention to the purpose of the property. Depending on whether it is a studio, studio or apartment, the property meets different requirements and therefore the price is different.

The deed must also state the price of the property and the methods of payment. If the property is acquired through a bank loan, then immediately after the purchase and sale, the property is mortgaged in favour of the bank.

Transfer of possession may also be mentioned and specified in the deed.

The deed shall be signed by the parties, who shall write their full names in their own handwriting.

If you would like a deed review or advice on purchasing a home, you can contact our real estate attorneys to assist you in preparing a deed and notarizing the transaction.