When buying or selling real estate in France, the notary plays an essential role as a public ministerial officer. Their mission is to guarantee the legal security of the transaction, ensure compliance with legislation, and protect the interests of both buyer and seller. Thanks to their expertise and impartiality, they accompany the parties throughout the process, from contract preparation to sale finalization. Here is a detailed explanation of the different aspects of their involvement.
1. Advising and Informing the Parties
The notary acts as a neutral and impartial advisor, offering personalized support to both buyer and seller. They take time to explain in detail the legal, tax, and financial implications of the transaction. For example, they clarify sales contract clauses, such as conditions precedent (obtaining a loan, absence of easement, etc.), and inform about the legal obligations of each party. They can also detail mandatory property diagnostics (such as energy performance certificates or natural risk assessments) and their impacts. For specific questions, such as tax exemptions or property-specific features (co-ownership, plot division), the notary provides precise answers to avoid any ambiguity and ensure a transparent transaction.
2. Verification of the Property's Legal Status
Before any signature, the notary performs rigorous verification work to secure the sale. They start by checking the title deed to confirm that the seller is indeed the legal owner and has the right to sell the property without restriction. They also examine the mortgage status to ensure the property is not encumbered by a mortgage, privilege, or seizure that could block the transaction. Additionally, the notary consults urban planning documents (local urban plan, municipal map) to verify that the property complies with current rules and is not subject to constraints, such as right-of-way easements or building restrictions. Finally, they ensure that all mandatory property diagnostics (asbestos, lead, termites, electricity, gas, etc.) have been carried out by certified professionals and comply with current standards, thus protecting the buyer against potential hidden defects.
3. Drafting and Signing the Deed of Sale
After receiving the sales file from the real estate agency, the notary verifies its completeness: the preliminary contract, civil status documents, diagnostics... Then during the sales agreement or promise to sell period, they draft the authentic deed of sale, an official document that seals the property transfer. When signing this deed, usually in the presence of both parties at their office, the notary ensures all formalities are respected. They then proceed to publish the deed at the land registry office, which officially records the change of ownership and guarantees its traceability in public records.
4. Fund Management and Payment
The notary plays a key role in securing the financial aspects of the sale. Funds paid by the buyer, whether a deposit at the preliminary agreement stage or the full amount at final signature, pass through the notary's escrow account, a secure bank account that guarantees the money is used only for the intended transaction. The notary calculates and collects notary fees, which include transfer duties (taxes paid to the State), their regulated fees, and ancillary costs (such as land registration costs). They also ensure the seller receives the agreed net amount after deduction of any charges (mortgage repayment, release fees). This trusted third-party role eliminates risks of fraud or fund mismanagement.
5. Role in Taxation
The notary is responsible for managing the tax aspects related to the real estate sale. They calculate transfer duties, also called registration fees, which represent a significant part of notary fees and are paid to local authorities and the State. They also inform the seller about potential capital gains tax, which applies when reselling a property at a price higher than its purchase price. The notary can advise on possible exemptions, for example for a primary residence or in case of extended ownership of the property. Thanks to their expertise, they ensure all tax obligations are met, thus avoiding disputes with the tax authorities.
6. Preservation of Deeds
Once the sale is finalized, the notary keeps the authentic deed in their archives, often in digital form, for an indefinite period. This preservation guarantees transaction traceability and allows proof of the buyer's property rights if needed in the future (for example, during a resale or dispute). If necessary, the notary can provide a copy of the deed to the parties or their successors. This archiving role is crucial for long-term legal security, as it protects against loss of essential documents and facilitates future administrative procedures.
Conclusion
- The notary is much more than a simple intermediary in a real estate sale: they are a guarantor of legality, transparency, and transaction security. Their legal expertise, rigor in verifications, and management of financial and tax aspects help avoid pitfalls and protect the interests of both parties. Using a notary means ensuring a serene real estate sale, compliant with legal requirements and adapted to the specificities of each file. Whether you are a buyer or seller, their support will be an essential step to conclude a transaction with confidence.
Sources:
- Notaires de France
- Service-Public.fr
- Paris Chamber of Notaries
- Legifrance – Civil Code, articles 1583 and following