The “free circulation” of deeds within the EU will play an indispensable key part in facilitating the smooth carrying out of all movements, contracting and investment in this European environment.
In the coming months, between June and July 2008, the CNUE must present its regulation proposal to the European Commission.
It is important to remember that deeds, by carrying a “filter” or notarial legal control, are enforceable documents – like all Rulings – and thus carry a larger probative force than a private or personal document.
One of the most difficult aspects to coordinate is, and will be, to fully abide by national private law and “save” the granting, use and cost of powers of attorney.
It must be taken into account that this regulation is not able to cover or include deeds relating to buildings susceptible to be subject to inscription or entry into the public register. The reason for this – that ultimately has be considered inevitable and insurmountable – is the diversity of the consistency and nature of public faith in the real estate registering systems of the states involved.
However, in any case, this is an important and positive piece of news that in the near future the notarial system is “Europeanising”, thus there is no need to stress that its functions and aim are as wide as they are essential (setting up and winding up of companies, corporate agreements, wills, many types of records, powers of attorney, inheritance declarations, policies etc.).
For further information, please contact Alex Ensesa Casulleras : firstname.lastname@example.org