A deed of sale transfers property ownership from the seller to the buyer for an agreed price, and is formalised by virtue of a public deed.
Deeds of Sale of immovable property such as land, buildings, airspace, or of rights over an immovable must be formalised by virtue of a public deed. Typically, the parties first sign a promise of sale agreement, during which the buyer pays a deposit and settles the remaining balance upon signing the final deed.
Before the final deed is published, both parties must provide the notary with the required documentation, and any applicable taxes and duties must be paid on the final deed of sale. The rates at which these are calculated vary widely according to the circumstances of the parties and the type of property being transferred.
