A cautionary note: is the apartment already yours?
A cautionary note in a 30-second video
Video transcript
Myth or fact? We registered a cautionary note, so the apartment is already ours? Myth. A cautionary note does not transfer ownership. It is only a note in the Land Registry about the undertaking toward you, and it prevents a conflicting transaction from being registered in the future. So register it as close to signing as possible; ownership passes only when the transaction itself is registered.
Full explanation: Cautionary note and payment mechanism: how to protect your money in an apartment deal. What a cautionary note does, why it is registered immediately after signing, how to build a protected payment schedule, and the role of a trust, a letter of intent and an irrevocable power of attorney.
The video is embedded from YouTube in privacy-enhanced mode. Watch on YouTube
More videos
A memorandum of understanding: just the broker's form?
30 days: sold an apartment? Report it
Contractor late with delivery? How much compensation
Paying the contractor? The mistake that costs dearly
Before buying second-hand: 3 checks
Municipal approval for the Land Registry: no registration without it
The amendments appendix: 3 points before signing
The seller concealed dampness? What the buyer can demand
Inherited an apartment? What to do before selling
Buying a second-hand apartment: 3 checks before you sign
Selling an apartment: betterment tax, mortgage and inherited apartments
Purchase tax on an apartment: how is it calculated and when is it reported?
Purchase tax on an apartment: 3 things to knowNot sure the deal is safe? Let's start with a conversation
In an initial conversation we will go over the property, the other party and the payment schedule, and tell you what needs to be checked before you sign.