Home/Services/Purchase and sale of real estate and notarial custody
Purchase and sale of real estate and notarial custody
Buying or selling a flat, house or plot of land? We will prepare the contract and the application for registration of title (vklad) in the land registry (kataster). Payment of the purchase price can be protected by notarial custody (escrow), from which the money is released only in the manner and after fulfilment of the conditions set out in the deed of custody.
What helps to have ready for the first contact
- the number of the title deed (list vlastníctva) or of the parcel
- identity documents of both parties
- the agreed price and method of payment
- information about any encumbrances or a mortgage
Whatever you have of these is enough — we will sort out the rest together.
Subject
What you can transfer with us
- a flat and non-residential premises,
- a family house and a building,
- a plot of land, garden, garage,
- a co-ownership share in real estate,
- a transfer with an easement or a right of lifelong use,
- agricultural land and forest land.
When transferring agricultural land, it is necessary to specifically verify the ownership, co-ownership shares, any pre-emption right, lease relationships and restrictions arising from special regulations. A transfer of ownership in itself does not, as a rule, terminate a lease. Before preparing the contract, we will therefore verify which rules apply to the specific plot and the intended transfer.
Did not find your case? Get in touch — we will tell you whether and how the transfer can be handled at our office.
Verification
What we verify before signing
The notary represents neither the buyer nor the seller — the notary ensures that the document is in order for both parties. Before signing, we therefore go through in particular:
- the title deed (list vlastníctva) — who the owner is and in what share,
- encumbrances and easements — pledges (liens), rights of use, any pending-entry notes (plomby),
- consistency of the details of the real estate with the state recorded in the land registry,
- identity and authority to act on both sides — we also check identity documents against the register of lost and stolen documents,
- public registers — bankruptcies and restructurings, the register of enforcement proceedings and sanctions lists, where relevant to the act,
- the agreed terms — the price and, in the case of custody, the conditions for releasing the money.
What will be needed in your case, we will go through at the consultation.
Procedure
Real estate transfer step by step
Consultation
We will go through your intention and verify the title deed and the identity of the parties.
Preparation of the contract
We will prepare the transfer contract in the agreed form.
Signing and notarial custody
You sign the contract at our office; we can safely hold the purchase price in custody.
Registration in the land registry
If we agree on this and the conditions are met, we will file the application for registration of title electronically.
Handover
The notary deals with the money held in custody only after fulfilment of the precise conditions set out in the deed of custody.
Custody
How custody protects both parties
Notarial custody (escrow) is a notarial activity regulated by law. In a real estate transfer, it can be used to protect the purchase price; the conditions for releasing the money are set out precisely in the deed of custody. We will go through the suitability of custody and its set-up with the parties before signing.
- Protection of the buyer: the seller receives the money only once ownership has actually been transferred — the buyer thus does not risk paying and not receiving the property.
- Protection of the seller: the money is demonstrably deposited with an impartial public officer before the transfer — the seller thus does not risk transferring ownership and not being paid.
- The money is held by an impartial public officer, not by one of the parties or a commercial intermediary.
Other services described as “escrow” are also offered on the market — they are not, however, notarial custody, and its legal regulation and protection do not apply to them; the only comparable alternative is a blocked bank account (vinkulácia). Custody in general is covered on the notarial custody page.
The fee for custody depends on the amount held in custody and is set by Decree No. 31/1993 Coll. (vyhláška č. 31/1993 Z. z.). We will tell you the specific amount in advance at the consultation, based on your case.
Fees
What is paid and on what basis
The notary's fee and reimbursements are determined under Decree No. 31/1993 Coll. The final amount depends on the type and value of the act, its complexity and the circumstances of its performance. It usually consists of:
- the notary's fee — a fixed amount for some acts, while for others it is derived from the value of the subject of the act (for example, custody of the purchase price),
- reimbursement of out-of-pocket expenses and, where applicable, compensation for loss of time,
- VAT and separate court or administrative fees, if payable in the given matter.
The administrative fee for the application for registration of title in the land registry is a separate item and is not the notary's fee. Its amount depends mainly on the manner and the requested time limit of the filing; which of the parties bears it can be agreed in the contract.
We will tell you the specific amount in advance at the consultation, based on your case — before you decide.
Next
What else we can handle regarding real estate
- Gift of real estate — transferring to children or close persons, also with a right of lifelong residence or an easement.
- Notarial custody — how the notary holds money or a document until an agreed condition is fulfilled.
- Inheritance proceedings — when plots of land or a house left by your parents have not yet been settled.
- Property of spouses — adjusting or dividing the spouses' common property.
- Pledge (záložné právo) — security and its registration in the Notarial Central Register of Pledges.
Frequently asked questions
The most frequent questions about this service
I am buying agricultural land. Is it different from buying a flat?
Drawing up the contract and the registration of title in the land registry proceed in the same way as with a flat or a house. With land, however, we more often deal with co-ownership shares and the co-owners' pre-emption right, an existing lease, which does not terminate upon the transfer, and plots with unsettled inheritance. We will verify which of these concern your case and tell you in advance.
There is a mortgage on the property. Can it be transferred?
A transfer of real estate encumbered by a pledge (lien) is possible, but the conditions must be set up in advance — in particular how and when the secured loan will be repaid and when the pledge will be deleted from the land registry. These steps can be linked to the conditions for releasing the money from notarial custody. We will tell you the specific procedure based on your case.
How long does the transfer at the land registry take?
By agreement, we can file the application for registration of title electronically. The basic statutory time limit for a decision is 30 days. The 20-day time limit applies to a transfer contract drawn up in the form of a notarial deed or authorised by an advocate only if the other statutory conditions are also met; in expedited proceedings it may be 15 days. This is not a promise of a decision on a specific day.
I want to transfer the house to my child. Is that the same as a sale?
No — if no purchase price is paid for the property, it is a gift, which has its own contract and its own rules. The donor can be protected by a right of lifelong use or an easement. Which route corresponds to your intention we will go through at the consultation; the notary is impartial and does not decide for you.
Do the buyer and the seller both have to come at the same time?
The notary verifies the identity of both parties and makes sure that the signatories understand what they are signing, recording their expression of will in the deed. The signature of both parties is therefore required and must, as a rule, take place at one moment — how we arrange this in your case, and whether representation on the basis of a power of attorney is possible, we will tell you in advance.
The seller is married. Does the other spouse also have to sign the contract?
If the property belongs to the community property of spouses (BSM), disposing of it concerns both spouses. Whether this is your case can be seen from the title deed and from when and how the property was acquired — we will verify this before signing and tell you who must attend. Related agreements between spouses are covered on the property of spouses page. It is a common situation that only one of the spouses is recorded on the title deed, but the property was acquired during the marriage. Especially in these situations it is very important to examine in detail when the property was acquired, from what funds, whether the scope of the BSM was adjusted before the purchase, and so on. This examination is part of preparing the materials for drawing up the deed; it protects both contracting parties and prevents possible court disputes.
I am selling a share in a plot of land. Do I have to offer it to the other co-owners first?
When a co-ownership share is transferred, the other co-owners generally have a pre-emption right. A statutory exception is a transfer to a close person; other circumstances of the specific case may also be relevant. Before preparing the contract, we will therefore verify whether the share must first be offered to the other co-owners and in what manner.
Will I pay tax on the sale?
The tax assessment of a sale is not a notarial act, and the notary does not provide accounting or tax advice in connection with it — discuss it with a tax adviser or with the tax office. After the registration of ownership, the new owner also has an obligation towards the municipality with regard to real estate tax; the relevant municipality or town will provide you with the details. In general, it is necessary to resolve whether the given sale gives rise to an obligation for the participants to pay income tax, the relevant levies, real estate tax and the like. If you do not have your own accountant or tax adviser, we will be glad to recommend a specialist in the field so that you can coordinate the matter with them.
The plot was left by my parents and has not been settled. Can it be sold?
Only what is registered in the land registry in the seller's name can be transferred. If the property of the deceased has never gone through inheritance proceedings, this must be resolved before it can be transferred — assets that come to light only after the proceedings have ended are dealt with in additional inheritance proceedings. Contact us with the number of the title deed and we will tell you what will be needed.
Let's arrange a meeting
Write to us or call — we will agree on an appointment and prepare a list of documents for your matter.
Do not send sensitive documents by ordinary e-mail without prior agreement with the office.
Mon–Thu 8:00–16:30 · Fri 8:00–15:00 · M. R. Štefánika 3544/30, Trebišov — map and further contacts