Section 20: Transfer of immovable property

20. Transfer of immovable property (1) (a) Where a notary draws up a notarial deed containing provision for the transfer of immovable property, the notary shall make known to the parties to the deed the consequences to which they expose themselves if the full purchase price or consideration or conditions giving rise to duty, are not truly expressed and specified in the deed, and a clause shall be inserted in the deed stating that the notary has made this requirement of the law known to the parties. (b) Where the deed does not contain such a clause, the RegistrarGeneral shall refuse to register it, until such a clause is added. (2) (a) A clause shall be inserted in every such deed of sale to the effect that the parties declare to the best of their knowledge and belief that the real price or consideration represents the actual price and real value of the property sold, or that such actual price and real value for the purpose of registration is estimated at a certain sum. N37 – 11 [Issue 9] Notaries Act (b) A declaration under paragraph (a) may be made by any of the parties to the deed, by their agents or representatives, or by any other interested party. (c) The Registrar-General shall not register a deed of sale unless it contains such a clause or such a clause is added.