Document background
The Deed of Sale with Assume Balance is a specialized legal instrument used in the Netherlands when transferring property ownership while simultaneously transferring existing financial obligations. This document is particularly relevant in situations where buyers wish to take over the seller's existing mortgage, often resulting in potential cost savings and simplified transaction processes. It requires careful consideration of both property law and financial regulations, as it involves not only the transfer of real estate but also the assumption of debt obligations. The deed must comply with Dutch Civil Code requirements and be executed before a civil law notary. It typically includes comprehensive details about the property, financial terms, warranties, and specific conditions related to the assumption of the existing balance. This type of deed is commonly used in both residential and commercial property transactions where maintaining existing financing arrangements is advantageous to all parties.
