The time from which the buyer bears the risks associated with the loss or deterioration of the building sold (e.g. destruction, fire, water damage, etc.). In principle, the transfer of risk takes place at the same time as the transfer of ownership. The deed of sale received by a notary (authentic act) makes it possible to establish the date and time of the transfer in the event of a claim.
The transfer of ownership will take place at the signing of the deed of sale, as well as the taking of possession which usually takes place on the same day. In return for the payment of the sum agreed to the seller, the buyer will have the full enjoyment of the property sold. In addition, during the transfer of ownership, the seller transfers all the risks associated with the building. In this regard, the deed of sale usually includes a risk transfer clause which stipulates that once you have signed the deed of sale, you become responsible for the risks and losses related to your newly acquired property. It is therefore important to take out the necessary insurance (such as home insurance) from day one.