Why you need an extract from the land register when selling a house

The land register extract consists of three parts. The first section states who owns the land and the property. The second part contains rights and encumbrances associated with the property. These can be residential rights or rights of way. The third section lists liens, usually mortgages. This is because the financing banks have these entered in the land register as security for their financing.

The land register is kept at the relevant local court. However, not everyone is allowed to request an extract; you have to prove that you have a legitimate interest. For example, you as the owner may request an extract, but a prospective buyer may not. A notary who draws up the real estate purchase contract is also entitled to do so.

If you are selling a property, the land register extract is relevant for two reasons. Firstly, it is necessary for drawing up the purchase contract. In addition, buyers usually want to know whether any rights are registered that could reduce the value of the property. The extract should only be a few weeks old. The local court charges a fee of 10 or 20 euros, depending on whether a certified or uncertified copy is required.

Owners have often paid off their property when selling, but the mortgage has not yet been deleted from the land register. Without this deletion, however, a quick sale is not possible. To delete the mortgage, you must contact the financing bank, which in turn commissions a notary with the deletion. This can take several weeks.

You should therefore take care of the land register extract at an early stage and ensure that your land register sheet is free of paid-off loan entries before the start of the brokerage.

The purchaser also requires an extract from the land register for their real estate loan. It is also possible to transfer a property that has not yet been paid off. This often applies to divorce properties.

Do you need help with obtaining an extract from the land register? We will be happy to help you.

Photo: ra2studio