Acquisition of real estate
The sale and purchase of real estate property (in case of a private property ownership or a long-term land lease) requires a purchase contract and a notarial transfer deed. A title investigation should also be conducted before the civil law notary. The purpose of such search is to verify in whose name the real estate is registered, who is empowered to dispose of it and to verify whether the real estate is encumbered with a mortgage or attachments.
There are no formal legal requirements for contracts in connection with the acquisition of real estate property. A verbal contract would also constitute an entirely valid contract, although the existence thereof may be difficult to prove.
The foreign exchange permit is irrelevant due to a ‘general license’ that is granted by the Bank of the Netherlands.