Legal
Wwft checks for commercial transactions
Mandatory identity and source-of-funds checks.
Under the Dutch Money Laundering and Terrorist Financing (Prevention) Act (Wwft), estate agents and civil-law notaries must establish the identity of buyers, sellers and ultimate beneficial owners and report unusual transactions, including those involving commercial property and transactions through a company.
See also
Advice on selling or lettingFrequently asked questions about Wwft checks for commercial transactions
What does Wwft checks for commercial transactions mean?
Mandatory identity and source-of-funds checks.
How does Wwft checks for commercial transactions work in commercial real estate?
Under the Dutch Money Laundering and Terrorist Financing (Prevention) Act (Wwft), estate agents and civil-law notaries must establish the identity of buyers, sellers and ultimate beneficial owners and report unusual transactions, including those involving commercial property and transactions through a company.
Related terms in legal
ROZ model
Standard commercial lease agreement.
Zoning plan / environmental plan
Permitted use of land and buildings.
Environmental permit
Permit for construction or change of use.
Break option
Right to terminate a lease early.
Chain clause
Obligation passed on to a subsequent owner.
Right of superficies
Right to have a structure on someone else's land.
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