The Agreement For Sale Of Immovable Property is a crucial legal document used in Malta when transferring ownership of real estate. It follows the preliminary agreement (konvenju) and precedes the final deed of sale, incorporating all essential terms and conditions of the property transfer. This agreement is required under Maltese law to detail the complete transaction, including property description, price, payment terms, warranties, and conditions. It must comply with Chapter 16 of the Laws of Malta (Civil Code) and related legislation, including stamp duty requirements and anti-money laundering regulations. The document is typically prepared by legal professionals and must be executed in accordance with Maltese notarial requirements. It serves as the foundation for the final deed of transfer and protects both parties' interests throughout the transaction process.
Agreement For Sale Of Immovable Property for Malta
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Agreement For Sale Of Immovable Property
"I need an Agreement for Sale of Immovable Property for a residential apartment in Sliema, Malta, with a standard payment structure and completion date of March 15, 2025; the property is currently tenant-occupied so we need to address tenant rights."
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1. Parties: Identification of the Vendor and Purchaser with full legal names, ID numbers, addresses and marital status as required under Maltese law
2. Background: Brief context of the transaction and confirmation of the Vendor's title to the property
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price', etc.
4. Sale and Purchase: Core provision documenting the agreement to sell and purchase the property, including the exact description of the property as per Land Registry details
5. Purchase Price: The agreed price, payment terms, deposit arrangements, and method of payment
6. Completion: Details of the completion process, timing, and requirements for the final deed ('kuntratt')
7. Vendor's Warranties: Warranties regarding title, property condition, legal compliance, and absence of encumbrances
8. Property Condition: Statement of the condition in which the property will be transferred and any included fixtures and fittings
9. Expenses and Taxes: Allocation of notarial fees, stamp duty, and other transaction costs
10. Risk and Insurance: Transfer of risk and insurance obligations until completion
11. Notices: Process and addresses for formal communications between parties
12. Governing Law and Jurisdiction: Confirmation of Maltese law as governing law and jurisdiction of Maltese courts
13. Execution: Signature blocks and witnessing requirements
1. Conditions Precedent: Used when the sale is subject to specific conditions such as bank financing or planning permits
2. Tenant Rights: Required when the property is subject to existing tenancies
3. Special Designations: Needed for properties in Urban Conservation Areas or with heritage protection
4. AIP Requirements: Required for sales to non-residents needing Acquisition of Immovable Property permit
5. Utilities and Services: Optional detailed section about transfer of utility contracts and service agreements
6. Parking Rights: Required when the sale includes garage or parking spaces with special arrangements
7. Common Parts: Needed for apartments or properties with shared facilities
8. Development Obligations: Required when property is sold with specific development conditions or restrictions
1. Property Description Schedule: Detailed technical description of the property including boundaries and measurements
2. Inventory Schedule: List of fixtures, fittings, and furniture included in the sale
3. Payment Schedule: Breakdown of payment installments if applicable
4. Title Documentation: Copies of relevant title documents and permits
5. Property Plans: Official plans and drawings of the property
6. Energy Performance Certificate: Mandatory EPC documentation
7. Permits and Compliance Documents: Copies of relevant MEPA permits and compliance certificates
8. Condition Report: Detailed report on the current condition of the property if referenced in the agreement
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