In the first place, the vendor is obliged to consign to the purchaser the property sold in the state in which it is with vacant possession, free of persons and things, at the time the contract of sale is notarised, i.e. at the same time as the balance of the price is paid.
The vendor has the option, however, of allowing the future purchaser to occupy the property even before the actual change of ownership, it being understood that because he is still the owner of the asset he remains responsible for it under the civil, criminal, administrative and fiscal laws.
Vice versa, the vendor may be authorized by the new purchaser to remain in the property after the sale or to delay handing it over until a later moment.
The vendor, using the appropriate form and within 48 hours of settlement, is obliged to advise the authorities (the Police or, if there is no local police station, the mayor) of the change of ownership, indicating the details of the purchaser.
Finally, the vendor is obliged: to advise the notary of the property's ownership history demonstrating its legitimate current ownership and the details of development permission (licence, concession, building permit, declaration of commencement of works …) of any building sold; to furnish all the administrative documentation where there has been a building amnesty; to present the Certificate of Land Use issued by the relevant Municipality in the case of the sale of unbuilt land; to present the certificate of fitness for habitation as well as the documentation relating to equipment systems.
It must be emphasized that the notary not only assists the parties in gathering the documentation and information necessary, but also and more particularly, within his duties, carries out the necessary checks on the truthfulness of what has been declared by the vendor, thus guaranteeing the conveyance can be completed as diligently and safely as possible.
The vendor also guarantees the purchaser against eviction and defects; and undertakes to pay all common property expenses, including those decided upon by the body corporate but not yet paid, up till the date of the sale unless otherwise agreed; to pay I.C.I. (council rates) through the end of the month of sale if the transfer takes place after the 15th day of the month and otherwise through the end of the month preceding settlement of the contract if that takes place in the first 15 days of the month.
As far as ICI is concerned, from 14 November 2002 the parties are exonerated from the obligation to make an ICI declaration in all cases where the notarised contract transferring the property is registered on-line.
The vendor also has a series of obligations of a fiscal nature, as is better explained in the relevant section.