The role of the notary in real estate transactions in Curacao

Anyone who wants to buy or sell a home or plot of land in Curaçao will always have to deal with a civil-law notary. This official plays a central role in the process and ensures that the transfer proceeds according to the rules. Without a notarial deed of transfer, a transfer of ownership is not legally valid. In this blog post, you will read about the notary's duties and why this role is so essential for real estate transactions on the island.

What exactly does the notary do?

The notary in Curaçao draws up the deed of transfer. This is the official document that transfers ownership from the seller to the buyer. The notary also checks whether the property is actually transferable: consider any outstanding mortgages, liens, easements, and qualitative obligations registered with the land registry. This check is known as the "title search" and is often important in Curaçaoan transactions, for example, in areas such as Jan Sofat, Blue Bay, Vista Royal, Jan Thiel, and Cas Grandi.

In addition, the notary verifies the identity of both parties, determines their legal capacity, and whether any powers of attorney apply. They also perform the mandatory compliance checks, including client due diligence and, if a legal entity is involved, identifying the ultimate beneficial owners (UBOs). Without these checks, the transfer cannot proceed.

The role in the financial part of the transaction

The notary receives the buyer's purchase price in an escrow account. This is a separate bank account used to securely hold funds until the transfer is complete. Once all conditions are met, the notary disburses the amount to the seller.

In some transactions, the bank providing the mortgage requires collateral. In that case, the notary also draws up the mortgage deed. This establishes the mortgage right on the property, serving as security for the loan.

Legal obligations and costs

The use of a notary is not optional. The law requires that a transfer of ownership be recorded in writing and that this may only be done by a notary. In addition, the notary collects and remits the transfer tax on behalf of the government. The notary is also responsible for the correct processing of other transaction costs.

Notary fees are legally established in Curaçao, and therefore all notaries charge the same rates.

Why this cannot be done without a notary

In Curaçao, the notary system offers buyers and sellers certainty. Without this intermediary, it's impossible to transfer real estate in a legally valid manner. This prevents disputes later on, for example, regarding hidden defects, duplicate sales, or broken agreements.

Even for people buying a second home who don't live on the island, it's reassuring to know that an independent party oversees the process. The notary doesn't represent either of these interests, but he does ensure that everything is done legally.

Are you considering buying or selling real estate in Curaçao? Contact Top Makelaar Curaçao for complete guidance.