Ownership and title is transferred via a DOT.
The DOT is often a standardized template document prepared by the buyers lawyer.
The change of ownership is notarized by a public notary and registered at the land registry. Often, the buyer’s lawyer may also be a public notary and perform this service. DOT’s are required to be executed upon the completion of construction of the residences by the developer. By execution of the DOT, the title/ownership of the relevant land parcel and residence standing along with the right to use the common amenities will be transferred to the individual investor(s). To be executed only by freehold buyers.