Notary
A public officer who authenticates the property sale and any mortgage-secured loan deed. They secure the transfer of ownership, collect taxes, check the chain of title and arrange the release of funds on signing day. Their involvement is mandatory for any property purchase and for registering real-property securities.
Key points
- The notary authenticates the sale deed and, where applicable, the mortgage loan deed.
- They verify the chain of title and register the transfer with the land-registry service.
- They collect and remit transfer taxes (colloquially called 'notary fees') to the state.
- They coordinate the release of funds on signing day, marking the transfer of ownership.
Frequently asked questions
Why must a broker anticipate notary-related timelines in their planning?
Notarial signing can only take place once the broker has obtained the final loan offer, the statutory cooling-off period has elapsed and funds are ready to be released. The notary sets a signing date in agreement with all parties and can only hold it if all these elements are in place. A delay in credit underwriting flows directly through to the handover date.
What is the difference between the notary's fees and transfer taxes?
The 'notary fees' typically quoted actually comprise two very unequal components: transfer taxes (collected on behalf of the state and local authorities, representing the bulk of the amount) and the notary's own remuneration (regulated emoluments and disbursements). For the borrower, this is a useful distinction because transfer taxes vary depending on the type of property (new vs. existing) and location.
How does a broker interact with the notary during a financing?
The broker provides the notary with the accepted loan offer and, where applicable, guarantee documents (surety or mortgage deed). The notary verifies consistency between the financing plan and the purchase price, ensures all conditions precedent have been lifted and organizes signing. Good communication between broker and notary avoids last-minute surprises, particularly around financial flows on the day.
In practice
Three weeks before the scheduled signing date at the notary's office, the broker arranges for the loan offer to be sent in time to respect the statutory cooling-off period and coordinates with the notary's office on transmitting the mortgage deed so all documents are ready on signing day.
Official sources
- Notary: duties and role · Service-Public.gouv.fr
- The banking-operations intermediary (IOBSP) · ABE Info Service (Banque de France / ACPR)
- Single register of intermediaries · ORIAS