A notary prepares the Sale-purchase Agreement & the Agreement on Transfer of the Ownership of the Real Estate, and the parties sign it at the notary’s office
Agency: Notary
It is mandatory that a notary public notarizes all transactions related to the transfer of real estate. The parties may prepare the sale and purchase agreement following the laws. However, the notary will review it, and if the agreement is not in accordance with the law, the notary will amend the agreement or ask the parties to modify the agreement, since the notary is financially liable for any potential mistakes or law violations.
Firstly, parties need to make an appointment with a notary and provide the notary relevant information. Notaries prepare the contract agreement. The notaries use the E-Notary program to obtain contract templates and necessary data about the parties and the object of a transaction from different registers. By entering a personal identification code or the name of a person in the E-Notary program, the program finds information on respective individuals. Upon the entry of the registered immovable number, the E-Notary program also finds data related to the registered properties. Once the contract is signed at the meeting, the notary makes a digital copy of the contract, and the contract is forwarded electronically to the Land Register.
Time and cost: 9 days, EUR 2,793.97
(Notary fee according to the Notary Fees Act (Part 3 Article 22) is EUR 958.65 + 0.14% of the amount of the transaction value exceeding EUR 639,120. As this is a case of a bilateral transaction the notary fee for certifying the transaction is double the full fee)
Payment of the state fee (stamp duty) at a commercial bank
Agency: Commercial Bank
The state fee for making the changes in the Land Register must be paid prior to applying for registration.
Time and cost: Less than one day (online), EUR 1,523.54
(If the transaction value is more than EUR 639,120, the full state fee rate of 0.16% of the transaction value will apply but not more than EUR 2,560). (Appendix 2, State Fees Act of 01.01.2015))
A notarized application is filed to the Land Register and corresponding entries are made to the Land Register
Agency: Land Register
The notarized application to the Land Register is filed to transfer the ownership of the real estate to the buyer in the Land Register Book. As of June 1, 2007, this application can be filed online through the “e-notary” system which allows the notary to submit the application electronically without using any paper application. Computerization of property records at the Land Registry have been ongoing for a few years has finally been completed at the end of 2008. Land Register shall publish a register notice regarding a Real Estate, which has not yet been entered in the Land Register only before opening a register part for an immovable in the register. The notice is published in the official publication Ametlikud Teadaanded and, if necessary, in any other manner available to the persons concerned. In case the Real Estate is already registered in the Land Register (as in this case), no publication is necessary.
The documentation shall include:
- Notarized Sale Purchase Agreement and Agreement of the Transfer of the Ownership of Real Estate (obtained in Procedure 1).
- Receipt of payment of state fee (obtained in Procedure 2)
Time and cost: 8 days, Already paid in Procedure 2
