The right of ownership of immovable property is the right to possess, use, enjoy, and dispose of it. It is the most extensive right in rem and cannot be subject to a term or condition. This means it is impossible to transfer title to it on a conditional or temporary basis.
Three conditions must be met for the transfer to take place. There must be a binding transaction, a dispositive legal transaction, and the transferor must have dispositive capacity. The transfer most often occurs by a contract of sale and purchase, but may also be done by a gift deed, a deed of gift on death, a court order, a contract of maintenance for life, etc.
Before the sale agreement is finalized, an inspection is usually carried out to analyze the property's condition, identify any mortgages, easements, or other rights that may encumber the property. After the inspection, the contract can be prepared.
As stated, the transfer requires two legal transactions. The binding transaction merely commits the two parties. The buyer undertakes to pay the agreed purchase price while the seller undertakes to deliver the property in a way so that the buyer can acquire title to it. This is done by a land registry permit. This is an explicit, unconditional declaration that the seller authorizes the entry of the transfer in the land register. With it, we can transfer, modify, encumber, or terminate a right. The permit must be notarized to be respected. Usually, the land registration permit is contained in the sales contract itself, but it can also be done in a separate document. If contained in the contract, the contract itself must be notarized. If not included, only a written contract may suffice as the binding legal transaction.
The second necessary legal transaction is a transaction in rem or a transaction of disposition. This is an agreement by which the transferor declares that he is transferring the title and the buyer declares that he accepts it. The seller's right of disposal is a specific condition that must be met for this transaction to take place. The essential difference with a binding transaction is that it actually delivers the land registration permit to the buyer, which allows the buyer to be entered into the land register as the owner.
The buyer acquires ownership of the property only at the moment of registration in the land register.
In the event of a sale of real estate, the immovable property turnover tax must also be paid. The seller is liable for the tax. The tax liability arises when the contract based on which the property is transferred is concluded.
