The notarial deed it is a public act that legally formalizes the purchase and sale of a property. It is drawn up and signed in front of a notary and contains all the details of the agreement between buyer and seller, including the financial terms and conditions of the transaction. The deed is an essential step if you intend to buy or sell a property, which is why it can be useful to know the details well. meaning.
What is the purpose of the notarial deed and how does it differ from the deed?
The notarial deed mainly serves to confer authenticity and to make the documents public legal and real estate transactions such as the purchase or sale of a property. It also serves to guarantee the legal validity of contracts and agreements between the parties involved, providing official written proof of what has been agreed. Furthermore, the deed is essential to make legal documents enforceable against third parties and to guarantee the stability and security of real estate transactions.
What is the difference between deed and notarial deed? In summary, the deed is the formal moment in which the parties sign the document in front of the notary, while the notarial deed is the document itself, drawn up and authenticated by the notary, which contains the provisions and agreements agreed upon by the parties.
Specifically, the term “deed” is often used colloquially to refer to the notarial deed, but there are some differences between the two concepts. The deed is thefinal act of formalization of a contract or agreement between the parties involved in a transaction, usually subsequent to the preliminary sales contract. It is the moment in which the parties sign the document in front of the notary and this deed is authenticated and registered by the same. The deed is a part of the notarial deed.
L’deed it is instead that document drawn up by the notary which contains the provisions and agreements between the parties. It may include, in addition to the deed, other clauses and information relevant to the transaction. The notarial deed is prepared by the notary based on the wishes of the parties and current legal regulations.
What documentation is required for the deed
For the drafting of the notarial deed it is necessary to prepare a list of documents, which varies according to the specific conditions of the sale. Generally speaking these documents are:
- copy of the preliminary sales contract, with the registration details at the Revenue Agency
- copy of the payments made when registering the preliminary contract (F24)
- identity documents and tax code of all parties involved
- cadastral surveys of the property, in the official version of the Revenue Agency
- cadastral plan
- any building practices
- original energy performance certificate (APE).
- previous deed of provenance
- mortgage deed in the event that the buyer has requested it
- the condominium administrator’s release and the statement of condominium expenses
- copy of the identity card of the legal representative of the real estate agency, in case the agency was contacted for mediation
- agency certificate of incorporation
- checks
- copy of the checks or copy of the bank transfer certifying the payment of the commissions
- copy of the payment checks as a confirmation deposit
- possible extract for summary of marriage deed.
What happens on the day of the deed?
The day of the deed is the culminating moment of a real estate transaction. The parties involved in the transaction, i.e. the seller, the buyer and the notary, meet at the office of notary or in an agreed place to sign the notarial deed. Before signing the notarial deed, the notary explains the contents of the document and answers any questions or concerns the parties may have. It is important that all parties involved fully understand the terms and the conditions of the transaction before proceeding with the signature.
After signature of the deed, the notary proceeds with the registration of the document at the competent land registry office. This step is essential to make the transaction legally binding and enforceable against third parties. Furthermore, the seller hand over the keys of the property to the buyer. During the deed, the final payments related to the transaction are generally made, such as the balance of the purchase price and notary fees.
Once the deed is completed and the deed is registered, the real estate transaction is considered concluded and the parties involved officially become owners or buyers of the property in question.
What does the notary release after the deed?
After the deed, the notary releases several documents and certificates to the parties involved in the real estate transaction. Here’s what is usually released:
- Deed: The notary issues a certified copy of the notarial deed signed during the deed. This document contains all the details of the transaction, including the terms and conditions agreed between the parties.
- Payment receipts: if there have been payments made during the deed, the notary issues official receipts confirming the balance of the purchase price and the notary fees paid.
- Transfer deeds: the notary prepares and issues the real estate transfer deeds necessary to register the change of ownership at the competent real estate registry office.
- Certificates and declarations: Depending on the specific circumstances of the transaction, the notary may issue additional certificates and declarations, such as urban planning compliance certificates or tax compliance declarations.
These documents are essential to confirm the validity and legality of the real estate transaction and to allow the parties involved to exercise their rights as owners or buyers of the property. It is important to keep all these documents in a safe place for any future needs or requests.
How much does it cost to get a deed from a notary?
Notary fees have been abolished and the notary can freely set his fee. Despite this, the average cost of the deed varies between €1,300 and €3,000, depending on the fee imposed by the notary, and these notary fees are borne by the buyer of the property. In addition to the deed, there are other expenses that the buyer must bear, such as the deed of sale of the house and its drafting, the mortgage deed and the stationery costs and secretarial costs. Although the choice of the notary is traditionally the seller’s responsibility, the buyer can propose a professional known to him if he wishes.
