Lunch-debate on cross-border real estate transactions – 17 September 2015

posted in: CNUE news

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On Thursday 17 September 2015, the CNUE held a lunch-debate in its offices on “Facilitating and securing cross-border real estate transactions in Europe”. This is a very important subject for the European institutions and many professionals, particularly notaries. Mr Jean Tarrade, the CNUE President, announced the official launch of the Buying Property in Europe website on this occasion.

The website can be consulted at the following address: www.buyingmyhome.eu

The CNUE press release is available at: http://www.notaries-of-europe.eu//index.php?pageID=10609

With the Buying Property in Europe website, the Notaries of Europe are providing a reliable and tangible source of information to facilitate cross-border real estate transactions in the European Union. This initiative is a useful complement to the functionalities of the EUFides platform. The tool enables European notaries to work together on with cross-border files and so citizens can buy a property in Europe more easily and above all with greater security.

Mr Frank Molitor, the President of EUFides, presented how the platform works to the participants. By April 2015, the platform had 292 member notaries and 56 cross-border files had been concluded. Originally designed for dealing with cross-border real estate transactions, in the future EUFides will be extended to other areas of notarial competence. Moreover, it is already possible to work on with succession cases. For Mr Molitor, the platform will ultimately extend to family and company law. Finally, he also reported on ongoing discussions on the EUFides Board to open the system to other professionals, such as Scandinavian real estate agents of Anglo-Saxon solicitors.

Mr Robert Bray, Head of Unit at the secretariat of the European Parliament’s Legal Affairs Committee, gave details of the Parliament’s activities in this area. For example, the Parliament had decided to conduct a study on “Cross-border acquisition of real estate in the EU: problems which arise for citizens”, which had been entrusted to the University of Southampton. This study should be finalised in seven months and will serve as a working tool for the European Parliament. Based on the observation that many citizens from the Nordic countries buy a property in southern countries, the study will provide statistics, identifying the Member States most affected by the phenomenon, the number of transactions, countries where mortgages are taken out, etc. Mr Bray announced that political recommendations would accompany the study’s publication.