Impact of the coronavirus crisis on the notarial profession: more declarations of inheritance, fewer living wills

Despite the coronavirus crisis, civil-law notaries still have plenty of work to do. In the second quarter, 4 percent more deeds were executed than a year earlier. In the first half of 2020, they collectively executed over 6 percent more deeds than in the same period in 2019. Back then, 846,179 deeds were signed. This year, there were 898,744. This is according to figures from the Central Digital Repertory (CDR) of the Royal Dutch Association of Civil-Law Notaries (KNB).

The main reason for the increase is the sharply increased demand for mortgage deeds. In the second quarter (April, May, June), the number rose by 24 percent compared to the same quarter last year. In the first half of the year, the increase was 22 percent compared to the first half of 2019. Many people changed their mortgages without moving, as the number of real estate deeds executed by notaries in the same period increased by 1 percent, or 3.5 percent if you compare the first half of the six-month period with that of last year.

More declarations of inheritance
In family law, over 4 percent more deeds were executed in the first half of 2020 than in the same period last year. The number of wills increased by 1.5 percent, and the number of living wills by almost 6 percent. The quarterly figures paint a different picture: 1 percent fewer wills than in the same period last year, and 3 percent fewer living wills. The coronavirus crisis has led to a sharp increase in the number of declarations of inheritance: 22 percent more between April and July than in the second quarter of last year. The number of cohabitation agreements rose by 13 percent during that period.

Business practice recovery
The first half of 2020 saw the biggest setbacks in business practice. The total number of deeds in this legal area decreased by 5 percent compared to the first half of 2019. The formation of private limited companies (bv's) and foundations, in particular, fell sharply in April and May. However, in June, we saw a rise in numbers again. The number of bv's increased by over 60 percent in that month compared to May. For the number of foundations, this figure was over 30 percent.

Regional differences
Although notaries collectively executed more deeds, there are regional differences. For example, the quarterly factsheets show a higher-than-average increase in Overijssel (+13 percent), but cases declined in Friesland (-7 percent) and Limburg (-1 percent).