Overview
Until recently, basically anybody could draw up a contract on the transfer of real estate. However, since 1 September 2009 the issue has become more complex.
If the person intending to sell or purchase the real estate wishes somebody to take responsibility for
the contract, it has two options. It can ask a lawyer to authorise the contract or it can ask a notary public to write the contract in the form of a notarial protocol (“authorisation” will be used for both cases).
In addition to the fact that there will be somebody who could be made responsible if something goes wrong,
the authorised contract will be handled more quickly by the Land Registry and for a lower administrative fee.
On the other hand, real estate contracts without an authorisation will (if all other conditions are fulfilled)
achieve a legal transfer of ownership as well.
© Incisive Media Investments Limited 2012, Published by Incisive Financial Publishing Limited, Haymarket House, 28-29 Haymarket, London SW1Y 4RX, are companies registered in England and Wales with company registration numbers 04252091 & 04252093.