We sign the authentic deed, shake hands, and the question arises: do we get the keys now or not? In most transactions, the handover of keys takes place on the same day as the signing at the notary’s office. The notary reads the deed again, verifies the identity of the signatories, and ensures that the funds have already arrived in their account before having them sign.
Once the deed is initialed, the buyer leaves with their keys. However, this standard scenario hides several situations where the timeline becomes complicated, with legal and practical consequences that both sellers and buyers often underestimate.
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Verification of funds by the notary: the prerequisite that no one checks
Before even talking about keys, we need to talk about money. The notary only initiates the signing if they are certain that the funds are available in their escrow account. In practice, the buyer’s bank makes a transfer several days before the appointment.
If the transfer has not arrived on the day, the notary postpones the signing. No signing, no transfer of ownership, no keys. We regularly see appointments pushed back by a week because a bank has delayed releasing the funds.
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To avoid this blockage, it is useful to understand the complete mechanism of the handover of keys after signing at the notary and the financial obligations that condition it. The seller, for their part, does not receive the money immediately either: the notary carries out the usual checks (clearing of mortgages, payment of condominium fees) before transferring the balance to them, which can take a few business days.
Deferred enjoyment: what a clause in the sales agreement changes
The most common case of delay is deferred enjoyment. The seller needs a few extra days or weeks to vacate the premises, for example, because their own purchase is not yet finalized.
A written agreement for deferred enjoyment modifies the timeline for occupying the property. This clause is directly integrated into the authentic deed. It sets a specific date by which the seller must hand over the keys and vacate the property.
In return, the notary may hold a portion of the sale price in an escrow account. This amount serves as a financial guarantee for the buyer: if the seller does not vacate the premises by the agreed date, the buyer has a concrete leverage.
Occupancy compensation and insurance
During the period of deferred enjoyment, the seller is no longer the owner but still occupies the property. The seller’s home insurance must cover this transitional period. The buyer, on the other hand, must take out non-occupying owner insurance as soon as the deed is signed.
A daily occupancy compensation is generally provided for in the clause. Its amount is negotiated between the parties before the signing. If the seller exceeds the agreed date, this compensation continues to accrue, but the procedure to recover the premises can become lengthy in cases of bad faith.
Early handover of keys: the concrete risks for the seller
Sometimes, it is the buyer who requests to receive the keys before the signing, often to start renovations. This setup is the riskiest.
- If the sale is canceled after the keys are handed over, the seller finds themselves with an occupant without title. The eviction process is then complex and lengthy, even if the occupant has no rights to the property.
- In case of damages caused by the early renovations, the seller remains the owner and responsible. An incident occurring before the final signing (fire, water damage) can lead to considerable costs for them.
- The insurance coverage is unclear: neither the seller’s insurance nor the buyer’s insurance clearly covers an occupant without title.
To frame this situation, a temporary occupancy agreement is drafted. This document sets the conditions of access, duration, responsibilities in case of damage, and the terms of restitution if the sale does not conclude.
What is really handed over on the day of signing: beyond the keys
We think of the keys, but taking possession of a property involves a broader set of elements. The seller must hand over all access devices to the property, not just the standard keyring.
- Building badges, remote controls for gates and garages, alarm codes, and digicode codes
- Last meter readings (water, gas, electricity) to allow for the change of contract holder
- User manuals for equipment (boiler, ventilation system, rolling shutters) and contact details of maintenance providers
- Valid warranty certificates for recent equipment
Requesting this complete list before the appointment at the notary helps avoid back-and-forth after the signing. In a condominium, the property manager can also provide a maintenance log for the building.
Purchase in VEFA: the handover of keys does not mean approval of the property
For a purchase off-plan (sale in the future state of completion), the mechanism differs completely. The handover of keys occurs upon delivery of the property, once the balance has been paid.
Receiving the keys in VEFA does not mean accepting the conformity of the property. The buyer has a period to raise reservations about any defects found. The time taken to address these reservations by the developer varies, but the principle remains the same: the handover of keys does not extinguish the right to contest defects.
The delivery report, signed on site, records all reservations. As long as they are not lifted, the developer remains obligated to correct them. Keeping a copy of this document and photographing each defect on the day of delivery provides the best protection for the buyer.
Whether the handover is immediate, deferred, or early, the common point remains the same: any deviation from the standard scenario must be formalized in writing in the deed or in an annex agreement. A verbal agreement between the seller and buyer has no value in case of dispute, and the notary will not be able to arbitrate what has not been recorded.