A final deed of conveyance is the last document in the sale of real estate and property. The deed is proof of documentation that you are the rightful owner of the property. For this reason, the agreed purchase price will not be transferred to the seller’s bank account before registering the deed at The Danish Land Registry, officially registering you as the new property owner. In this section, you can learn more about what a deed contains, who can help to prepare the deed, and much more.
What is a deed of conveyance?
A deed of conveyance is a publicly accessible document that proves that you are the rightful owner of a piece of property or real estate. Currently, the deed is a digital document, which must be signed using NemID/MitID and registered electronically. Once the deed has been registered, it officially recognizes who owns the property in question. For this reason, only after signing the deed are you legally recognized as the rightful owner of the property.
A purchase agreement and a deed are two different documents. Both are needed when purchasing a property or real estate. The purchase agreement is highly detailed. It contains all the terms and conditions relating to the purchase of your home. On the other hand, the deed only contains the essential information regarding the transfer of ownership.
Preparing the deed and sending it off for official registering typically lies with the buyer’s advisor. The buyer’s agent will take on responsibility for registering the deed, preparing the reimbursement statement, and facilitating legal completion.
What information should the deed of conveyance contain?
As previously mentioned, the deed should contain essential information about the change of ownership of the property, the terms and conditions relating to the property transfer, and any additional provisions. Thus, the deed contains information about the buyer and the property, the purchase price, and other information.
Typically, a deed contains the following information:
- Name, address, and CPR number of both the buyer and seller
- Information about the property
- The condition of the property
- Purchase price and property liens
- Public Property Valuation
- Easements
- Takeover date
The deed may also contain one or more provisions, which are required to be able to register the deed. Examples of such provisions regard purchasing property through an estate sale, purchasing property as a foreigner, acquiring agricultural property, taking over obligations, etc.
What does it cost to register the deed of conveyance?
When registering the deed, you must pay both a variable and a fixed fee. The variable registration fee equals 0.6% of the purchase price, whereas the fixed registration fee is subject to continuous adjustment. According to the current rates, the fixed fee is DKK 1,750.
The variable fee depends upon what is being sold. In connection with the ordinary free trade of a family house – for example, an apartment or a holiday home – the variable registration fee equals 0.6 % of the purchase price. This amount is also always rounded up to the nearest hundred.
If the property is not sold as an ordinary free trade, then a different set of rules applies to residential houses, holiday homes, and apartments. If the property has been sold for less than 85% of the property’s valuation, then the registration fee is calculated based on 85% of the property’s value.
Who should prepare the deed, and when should it be done?
There are no formal requirements regarding who is responsible for preparing your deed and sending it for registration. In most cases, however, the buyer’s agent is responsible for the registration of the deed. It is usually agreed to and documented in the purchase agreement.
It is important to ensure that the deed has been drafted correctly. It must contain certain essential information so that you as the buyer do not end up in a legal bind. Principally speaking, if there is no registered deed, you will not be considered the official owner of the property.
How do I find my deed of conveyance?
In the past, deeds were actual physical documents that had to be stored safely. If the deed got lost, it was possible to request a copy from the local district court for a small fee. Currently, deeds are digital. You can find your own property deed on Tinglysning.dk. Since 1st July 2013, you can access documents registered at The Danish Land Registry for free.
How to find your deed:
- Go to Tinglysning.dk.
- Click on “Continue by logging on.”
- Log on with MitID
- Click on the tab “Real Estate.”
- Type in your address.
- Find the date and title number under “Claims.”
- Click on the tab “More” and choose “Documents.”
- Type in the date and title number.
- Click on “Get PDF” or “Request an official copy.”
Let Minkøbermægler.dk help you with registering your deed of conveyance
As a buyer, when seeking guidance at Minkøbermægler.dk, we will prepare the deed and send it to be officially registered on your behalf. You can be sure that the deed will contain all the correct information so that the registration process runs smoothly without any delays. Furthermore, we offer advice on purchasing real estate tailored to your individual situation.
We will scrutinize the purchase agreement for you, gather all relevant legal documents related to the purchase, and make sure to go through their contents with you. Doing so will provide you with complete insight into all terms and conditions so that you can sign the purchase agreement as a fully informed party.
If you wish to calculate the registration fee on your deed, you can press here.
Professional buyer counseling
You should always make use of buyer counselling when purchasing a home. At Minkøbermægler.dk, we look after your interests throughout the entire buying process as your personal adviser. Contact us today to learn more about how we can help you get through your real estate purchase safely.
Note, the real estate agent is hired by the seller and represents the seller’s interests throughout the whole process, while the buyer’s agent exclusively represents the interests of the buyer.
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