REAL ESTATE INVESTMENT 2021
The role of the notary in a property transaction
• He prepares the preliminary reservation contract
• He collects the reservation deposits from the clients as an escrow agent
• He establishes the co-ownership regulations and the project specifications
• He drafts the deed of sale
• He ensures that all the necessary requirements are met before the deed of sale is signed
• He certifies the provision of the required guarantees , insurance , permits and authorisations
• He withholds and pays the necessary taxes on the day of sale , and the part of the sale price due on the developer ’ s account to the bank that issued the GFA
• He drafts the delivery report issued by the developer and the client at the handover of the keys
His role is essential : he is the only legal practitioner in Mauritius authorised to carry out a property transaction . It is our practice to guide our clients in collaboration with their tax advisor in their home country , in order to reconcile the tax situation in both countries as best as possible .
Didier Maigrot Notary , Didier Maigrot notary office
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