A week away from the CINDER congress on real estate transfers, which will begin on 17 September in Amsterdam, the Notaries or Europe would like to highlight the fact that for several years now they have already been investing fully and unconditionally in simplifying the process for citizens wishing to buy property abroad. Thanks to the EUFides project, EU citizens will soon be able to purchase real estate in another Member State more easily and with greater legal certainty.
Buying a property is one of the most important decisions a family, a couple or an individual ever makes. This house will be their home for some years, and is also a significant financial investment. As mobility within the European Union increases, more and more people are buying property abroad, in the place they work or spend their holidays. There are numerous legal issues surrounding these transactions, which can be complicated by the language barrier.
But from now on, buyers will be able to contact their regular civil law notary, who will handle the sale in cooperation with a notary from the Member State in which the property is situated. The notaries in question will inform and advise the buyer and the seller about the tax and estate consequences of the transaction under national law. They will combine their respective powers to take care of all the administrative steps required by the Member States, such as notifying tax authorities, requesting pre-emption rights from municipalities and registration.
In order for data to be transferred and the act of sale to be signed quickly, cooperation between the notaries will be effected almost entirely electronically. The Notaries of Europe have taken the necessary measures to guarantee that the levels of data protection and confidentiality are extremely high. They use electronic signature verification technologies, which make it possible to verify the identity of signatories and to prevent changes from being made to a document between the time it is signed and the time it is received by the reader.
Mr Tilman Götte, President of the Council of the Notariats of the European Union (CNUE), said: "The EUFides project is the result of strengthened cooperation in the area of real estate among the notaries of Europe, using the latest technology to share documents between notaries in different countries. EUFides is the answer to European citizens' need for legal certainty in cross-border real estate transactions."