Transfer of a Property in Curacao

Transfer of a Property in Curacao

Transfer of a Property in Curacao

After much planning and preparation, the time has finally come – the property transfer. However, for many, the concept of a property transfer may not be entirely clear. If you are purchasing your first home, the entire process can be new, and you may not fully understand what is involved. In this article, I will explain exactly how the transfer of property in Curacao takes place.

What Exactly is a Property Transfer?  
In most cases, the property transfer when purchasing a home is nothing more or less than officially becoming the owner of the property. During this process, ownership typically changes hands. Although there are a few exceptions to this, the primary process remains the same. Ownership transfer is the final step in the property purchase process. This is a crucial moment, as from this point forward, you may have financial obligations such as a mortgage, taxes, and other responsibilities. After the transfer, you can officially say, “I own this home.”

When Does the Transfer Take Place?  
The transfer of a property in Curacao generally occurs 3 to 6 weeks after mortgage approval. If you are financing the property entirely with your own funds, the transfer typically happens 3 to 6 weeks after signing the preliminary purchase agreement.

Transfer of an Existing Property  
When purchasing an existing property, the transfer process involves two stages. First, a final inspection of the property takes place, followed by the signing of documents at the notary’s office.

Property Inspection  
Before heading to the notary, you and the seller will inspect the property to ensure everything has been delivered as agreed.  
If you agreed to purchase certain items like curtains, refrigerators, or furniture, you will check to ensure they are in place.  
Additionally, ensure that all rooms are empty. You don't want to move in only to discover the seller’s belongings are still there.  
Verify that any agreed-upon repairs have been completed.

Signing at the Notary  
If the property meets the agreed conditions, you will proceed to the notary for the official part – signing the deed. The buyer, seller (or their representatives), and the notary will be present. Sometimes, one party cannot attend due to being abroad or on vacation. In such cases, the notary can be authorized to act on their behalf, though this incurs additional costs.  
Before receiving the keys, an important step remains – signing the deed of transfer and the mortgage deed.

By signing the deed of transfer (also known as the title deed), the property officially changes ownership. The notary reads the deed aloud, providing explanations if necessary. Once the notary records the exact date and time, both parties sign the document. From that moment, you are the legal owner.

If you are taking out a mortgage, you will also sign the mortgage deed at the notary’s office, formalizing your financial obligation. After signing, the notary immediately transfers the purchase amount to the seller.

Transfer of an Apartment  
If you purchase an apartment, once the notarial process is completed, the seller is no longer a member of the Homeowners’ Association (VvE) – you are. This is logical, as the seller is no longer the owner. If the previous owner had outstanding VvE fees, you are not liable for them. The notary ensures this is documented properly. The VvE must resolve any outstanding issues directly with the previous owner.

Transfer of a Newly Built Home  
Buying a new-build home in Curacao typically involves two phases. First, you purchase the land through a notary, following the same procedure as for an existing property. The construction of the home is generally paid for in installments. If you have a bank loan, a supervisor will oversee the process to ensure that payments align with construction progress.

Are Your Insurances in Order?  
Before signing the mortgage deed, you must arrange certain insurances. The mortgage lender requires these since your property serves as collateral for the loan. You can quickly and easily arrange these insurances through Dushi Insurance.

Transfer Costs  
Now that you understand the property transfer process in Curacao, it’s important to note that the transfer incurs costs. I discuss this in greater detail in my article on property transfer costs in Curacao.

This article was written by Adriaan Smit, Real Estate Broker in Curacao.

📧 adriaan@sunlife.realty    
📱 WhatsApp: +5999 686 2994

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