The role of a notary during the sale or purchase of real estate.
April 28, 2021
Selling or buying real estate involves completing and submitting a significant amount of documentation. This is a complex process and requires the assistance of a professional. A visit to a notary. In this article, we will discuss the role of a notary, their responsibilities, and the powers of a notary office.
Who is a notary?
A notary is a public official appointed by the Minister of Justice. Under the 1991 Notarial Law, he or she is also a lawyer authorized to:
- preparation of notarial deeds;
- performing other notarial activities – supervising entries in the land and mortgage register, providing the parties with comprehensive explanations related to the performance of a legal act, submitting an application to the District Court for the entry of a mortgage in the land and mortgage register in favour of the bank granting a loan for the purchase of real estate, etc.
The notary's role is to protect the interests of the parties. In doing so, they must remain impartialand not favor any party in a real estate transaction. It's important to remember that a notarial deed has specific legal consequences, so it's crucial that it be prepared professionally – all documents required by the notary are thoroughly verified, and the deed itself must be clear and legible to both parties.
What documents should I prepare for a meeting with a notary?
You need to prepare for your visit to the notary. If you are selling real estate, bring the following documents:
- identity card,
- an extract from the land register with a drawing,
- a copy of the land and mortgage register of the property being purchased/sold,
- certificate of marking the building with a serial number,
- a copy of the geodetic map (drawing) with the real estate marked on it,
- an ex officio decision approving the building design together with the consent for its construction,
- floor plans of the building/apartment (based on the as-built inventory).
The buyer should provide:
- identity card,
- bank documents in the case of purchasing real estate with a mortgage loan,
- marital property agreement, if the spouse has separate property with his or her spouse.
Sometimes the notary requires the submission of additional documents, e.g. a certificate of no arrears in fees or a certificate confirming that no one is currently registered in the property in question.
Why is a notarial deed issued by a notary necessary?
If the purchase and sale agreement is not prepared and sealed by a notary in a specially prepared notarial deed, the real estate sale/purchase transaction will simply not have legal force.
While a preliminary agreement can be drawn up by the buyer and seller without the presence of a notary, the final agreement must be reviewed, prepared, and signed by a notary's office. It's worth noting that it's also advisable to have the preliminary agreement drawn up by a notary. If one party wishes to withdraw from signing the final agreement, the other party will have the right to demand its signing, even in court.
