This blog explores the process of registering a real estate purchase contract, detailing the necessary steps and documents required to complete this procedure legally according to specified protocols.

I – What are the required documents?

This policy emphasizes the necessity of submitting required documents for registering real estate purchase contracts correctly according to established regulations. Original contract documents, if drafted by a lawyer, must be accompanied by at least two legal copies. If the contract is drafted by a notary public, the original transfer card and a regular copy must be provided. Additionally, copies of annual clearance receipts for the registrant over the past three years must be submitted.

Registration fees must be settled, and registration documents obtained within 24 hours of registration. Contracts must comply with general conditions for registering property sales contracts without any violations. The treasury office retains an original copy of the documents, and in cases of lawyer-drafted contracts, the registration authority keeps both an original and a legal copy, with the legal copy considered the primary document or a true copy of the original.

II – Where is the registration office located?

Contracts drafted by a notary public are registered at the relevant treasury office located in the area where the notary’s office is situated.

For contracts drafted without a notary public, they are registered at the appropriate treasury office located in the area where the property is situated.

III – What are the registration fees?

The registration fees for contracts vary depending on the type of contract submitted for registration, ranging from fixed fees to escalating and proportional fees that can reach up to 9% of the property value. There are key elements in contracts that determine registration fees, including the registration date, property price, number of submitted copies (copies retained by the financial receiver exempted from fees), and the status of property ownership (whether the property is previously registered or not, excluding gifts and partitions which do not prove ownership).

Additionally, registration fees are influenced by various privileges, such as acquisition for individual residential purposes, economic activities, agricultural property consolidation and exploitation, and other legally stipulated privileges. The financial receiver also retains an original copy of contracts, while contracts drafted by lawyers require the original copy to be kept by the registration office and another legal copy.

IV – What are the registration stages?

To prepare a sales contract by a qualified legal drafter:

• Ensure that all parties sign the contract in the presence of the Civil Status offices at the municipality, accompanied by a clearance certificate for the property being sold.
• Visit the Financial Collection Office and submit at least three legal copies of attorney’s books or a certified deed transfer card, along with copies of annual clearance receipts for the signing party for the past three years.
• Settle registration fees and obtain a clearance receipt within 24 hours of registration for transfer cards.
• For contracts drafted without certified deed transfers, register the documents within 24 hours of settling registration fees.
• Then, submit the clearance receipt and a legal copy of the purchase contract, including the content or clauses concerning the birth of the concerned parties, to the Regional Real Estate Administration.
• For certified deed transfer cards, obtain the clearance receipt and present it to the certified deed office to obtain fair justification, and submit it to the Regional Real Estate Administration accompanied by birth clauses of the concerned parties.
• The Regional Real Estate Administration reserves the right to verify contracts thoroughly and request additional or explanatory documents (such as clarification or correction books or confirmation of participation in ownership) to complete property registration processes.

V – When are the registration deadlines?

Real estate purchase contracts must be registered within a mandatory period of sixty days from the date of signing the documents. Failure to register within this timeframe may incur financial penalties for delayed registration.