The signing of the deed of sale at the lawyer’s office, or the notary’s office depending on the country, marks the long-awaited moment of transfer of ownership. In most cases, this also means that the buyer receives the keys and officially becomes the owner of the property. That said, there is nothing to prevent both parties from anticipating or postponing the handing over of the keys after the signing of the deed of sale, if the seller wishes to remain in the property for some time.
The handing over of the keys in case of real estate sale :
If the signature of the deed of sale is synonymous with the transfer of ownership, it does not always lead to the commencement of enjoyment of the property! These two distinct notions are sometimes offset by a few days, weeks or even months.
Thus, if both parties agree, the handing over of the keys can be postponed until after the signing of the deed of sale at the notary’s office. In order to fully understand the issues at stake, it is important to know what is involved in the transfer of ownership.
The transfer of ownership
By signing the deed of sale, a buyer becomes the owner of the property. In fact, the deed of sale seals the entry into possession of the property.
The transfer of ownership also implies the transfer of charges: from that day on, the purchaser is liable for the various charges and taxes relating to the property sold. He must in particular assume.
Above all, the transfer of ownership is synonymous with the transfer of risks and responsibilities from the seller to the buyer. If the keys are handed over after the deed of sale has been signed, the new owner may be exposed to unpleasant surprises without having occupied the property.