After various RTL News bulletins about speculative land trade, MPs want tomorrow during a round table discussion Receive information from all agencies and parties involved in the land trade. Notaries’ Association (KNB), among others, join in and warn that buyers often feel misled after investing in farmland.
Kadaster will propose to parliamentarians the introduction of a permit requirement for land trade.
In the speculative land trade, dealers cut up meadows into small plots that are sold to individuals as an investment. They buy a piece of land in the hope that houses will be built here later, so that the land can be resold at a great profit. But in practice this rarely happens at all, and buyers are left with farm plots that they bought for a lot of money.
Many people feel cheated out of the land trade, yet plots of land are still being sold to individuals every week. Danny and Patricia previously told RTL Nieuws how they got into the ship.
According to Cadster, in recent years, land dealers have bought about 700 agricultural fields and divided them into more than 17,000 plots.
The House of Representatives also consults Professor of Documentation Law Leon Verstappen of the University of Groningen. He has nothing to say about this practice. “Citizens are being massively deceived by fancy talk and pamphlets,” he tells RTL News. “The appearance that big profits can be made, when in fact those are created by real estate dealers.”
Also according to the Royal Notary Society (KNB), the victims are usually individuals. “In practice, many buyers of these types of plots feel misled afterwards if it turns out that building is not permitted after all. But as long as the purchaser cannot prove that the land dealer gave false information, they usually get away with it.” “
The Cadaster warns of another problem. Chopping the meadows into smithereens leads, on behalf of the land trader, to many new frontiers. According to Kadaster, it is difficult to definitively determine the temporary limits – registered with the civil law notary. This is because it is not clear where exactly they are walking.
Over time, land dealers would go bankrupt or buyers would die, making it impossible to know exactly who owned the land. The Land Registry warns that “this renders the plots virtually unsaleable”.
More and more problems due to land trade
The solution Kadaster wants roughly boils down to qualifying land trading as an investment, as a result of which traders must apply for a license with the Netherlands Authority for Financial Markets. Notaries can then check whether a particular merchant has such a license. If not, Kadaster will not carry out the land deal. The Notary Society also sees something in this. This is why the law must be amended.
Recently, Minister Hugo de Jonge (Spatial Planning) also said that the Cabinet sees more and more problems arising from land trade. He promised improvements before the start of the summer.
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