Transaction Contract

The contract Once made the reserve, the following step is the transaction contract inside the terms stipulated in the Reserve. One is a document in which describes clearly the house and by means of which the salesman commits to his delivery and the buyer to pay by her a price. It is possible to be orchestrated by means of a deprived contract between the parts, that are binding and valid among them, but is recommendable that rises to public writing, that is to say that subscribes a notarial document and that register in the Registry of the Property. Notarial Scripture and registry. The formal act of the transaction is realised by means of a contract signed before Notary who denominates public writing. This writing, after eliminating the corresponding expenses and taxes takes to the Registry of the Property. To the Registry public writings and other documents of judicial or administrative character only can accede, but never a private contract.

For that reason it is important that the transaction is realised in notarial public writing. In the writing they are detailed perfectly: the situation, adjacent, bordering characteristics, spaces, surface, price, referring mode of payment and all the conditions to the possible postponements of payment and conditions, there are if them. The procedure of documents before the Notary, the corresponding payment of the taxes and expenses, as well as later the previous managements and, usually are carried out by an administrative manager whom the correct accomplishment assures and in the legal terms of all the proceedings. The original one of the deed of sale, once eliminated the expenses and registered, will be for the buyer. For the day of the company/signature of the public writing before Notary is very important that we found early contributed to the Notary’s office all the necessary documentation for the correct identification of buyer, salesman and the situation of the house to buy, for the elaboration of the public writing although some can be contributed to the same day dela company/signature. The necessary documents are: On the part of the salesman: – National Document of Identity in force – Scripture of property of the house – Certificate to be to the current in the payment of the I.B.I. – Certificate to be to the current in the payment of receipts of the community – Certificate of cancellation of the mortgage, if so. On the part of the buyer: – National Document of Identity in force – Bank check for the payment of the house and voucher of payments against the account in case of having them. Original author and source of the article.