Transfer of a house
The ownership of a property or house cannot be transferred without intervention of the notary. The notary prepares the deed of transfer of title and the mortgage deed, if any, and has this signed in his presence and that of 2 witnesses. Subsequently, he takes care of registration of these deeds in the public registers. As a rule, the buyer of a property or house chooses the notary, because the buyer is the one who will pay the notary's fee.
The notary also deals with the financial part of the transaction. The buyer (and/or his mortgage bank) has to transfer the amount due to the third-party account of the notary in time before the signing of the deed of transfer of title. The seller receives the purchase price after deduction of the redemption of mortgages, if any, when it is certain that he has also met his obligation to deliver a property or house without encumbrances. This is mostly 2 to 3 business days after the execution of the deed of transfer (and mortgage). The notary sees to it that the entire transaction proceeds properly.