Have you bought a house and come across the term "deed of conveyance"? This important document is indispensable in becoming official of your new home. In this blog, we explain what the deed of delivery entails, what information you can find in it and why this step in the buying process is so crucial. Read on for clear answers!
- A deed of delivery is a must when you buy a house. This paper officially makes you the owner.
- The notary makes the deed with info about the house, the buyer and the seller. Then you sign at the notary.
- The deed also lists the costs you pay on top of the purchase price, such as transfer tax.
What is a deed of delivery (deed of trust)?
A deed of delivery is a mandatory document prepared by the notary when transferring a property. It contains all the legal details about the transfer of ownership and is also called a deed of conveyance.
Required document when transferring a property
When buying a house, you should always have a deed of delivery. This is a paper that the notary makes. It shows that the house is really yours now. Without this deed, you cannot say the house is yours.
The notary writes the deed of delivery and then you go to his office to sign. Only after you have signed, are you the new owner. Also, the notary must send the paper to the Land Registry.
Then everyone will know that the house has been sold and who the new owner is.
Also called deed of conveyance
Another word for deed of delivery is deed of conveyance. This legal document is prepared by the notary and is required when transferring a home or other real estate.
It confirms the transfer of ownership from the seller to the buyer and contains important details, such as the personal details of both parties, the contents of the purchase agreement and specific property details of the property.
In addition, the document includes details about the cost of the buyer, NHG limit, mortgage advice and other relevant information related to the real estate transaction.
Drafted by the notary
The deed of delivery, also known as a deed of conveyance, is prepared by the notary. This legal professional is responsible for preparing this important document that makes the transfer of property official.
The notary ensures that all correct information, including the buyer’s and seller’s personal information, the contents of the purchase agreement and the property’s ownership details, are correctly included in the deed.
In addition, the notary supervises the process to ensure that all legal procedures are carried out correctly.
What does the deed of delivery say?
The deed of delivery contains personal details of the buyer and seller, the contents of the purchase agreement and ownership details of the property. In addition, it serves as proof of transfer of ownership and contains information about the cost of purchase (k.k.) in 2023 and the NHG limit in 2024.
Personal data of buyer and seller
The deed of delivery contains the personal details of both the buyer and the seller. This includes their full names, dates of birth and residential addresses. This information is essential to confirm the identity of the parties involved and to establish their legal rights regarding the transfer of property.
It is important that these details are correctly stated in the deed so that no problems arise during or after the transfer process.
Content of purchase agreement
After recording the personal details of the buyer and seller, the content of the purchase agreement focuses on several aspects. For example, the document includes details on title transfer, proof of title and a move-in checklist, along with information on cost of buyer (k.k.) in 2023 and the NHG limit for 2024.
It also covers topics such as self-employment and mortgage, prefab home and mortgage, as well as options for a second opinion on mortgage advice. All of these elements are crucial parts of the purchase agreement that must be understood when purchasing a home.
Property details of the property
After determining the contents of the purchase agreement, the property’s ownership details are included in the deed of delivery. This includes information such as the lot, the type of home (for example, an apartment, detached house, or a new home), and any specifics such as ownership of a boat.
It is a legal document that evidences the transfer of ownership and contains all relevant details related to the specific property, including any mortgage details and agreements related to the property.
Proof of transfer of ownership
The deed of delivery contains proof of the transfer of ownership of the property. This is a crucial part of the deed because it indicates that ownership has now been officially transferred from the seller to the buyer.
This proof is legally binding and confirms that the buyer is now the rightful owner of the property. It is an essential step in the buying process and provides assurance to both the buyer and seller.