The Agreement Of Property Purchase is a crucial legal document used in Malta for real estate transactions, essential for both residential and commercial property transfers. This agreement serves as the foundational document that outlines the complete terms and conditions of a property sale, including detailed property descriptions, purchase price, payment terms, and warranties. It must comply with Malta's Civil Code and property laws, requiring execution before a Notary Public and subsequent registration with the Public Registry. The document is particularly important as it needs to address specific Maltese legal requirements, such as AIP permits for foreign buyers, energy performance certificates, and proper property registration procedures. It's used in various contexts, from simple residential purchases to complex commercial property transactions, and forms the basis for the final deed of sale (kuntratt).
Agreement Of Property Purchase for Malta
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Agreement Of Property Purchase
"I need an Agreement Of Property Purchase for a residential property in Sliema, Malta, with a purchase price of 鈧450,000 and completion date set for March 15, 2025; the agreement should include standard warranties and a detailed inventory of fixtures and fittings."
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1. Parties: Identification of the Vendor and Purchaser with full legal names, ID/passport numbers, and residential addresses
2. Background: Context of the sale and brief description of the property transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, boundaries, measurements, and registration details from Land Registry
5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment schedule
6. Completion: Terms and timing of the final deed of sale (kuntratt), including notary appointment and completion requirements
7. Vendor's Warranties: Warranties regarding property ownership, absence of encumbrances, planning permits, and legal status
8. Property Condition: Statement on the condition of the property and any agreed repairs or modifications
9. Costs and Taxes: Allocation of notarial fees, stamp duty, and other transaction costs
10. Risk and Insurance: Transfer of risk and insurance obligations between parties
11. Termination: Circumstances under which the agreement may be terminated and consequences
12. Notices: Method and addresses for formal communications between parties
13. Governing Law: Confirmation of Maltese law as governing law and jurisdiction
14. Execution: Signature blocks and execution requirements
1. AIP Permit: Required when purchaser is a non-resident, detailing Acquisition of Immovable Property permit requirements
2. Special Designations: For properties in Special Designated Areas or subject to specific regulations
3. Fixtures and Fittings: Detailed list of items included/excluded in the sale, used when specific items need to be clearly designated
4. Conditions Precedent: Any conditions that must be met before completion, such as bank financing or planning permits
5. Rental Agreements: Details of existing tenancies and their handling, required if property is currently leased
6. Development Potential: Information about development rights or restrictions, used for properties with development potential
7. Ground Rent: Terms relating to ground rent if property is subject to emphyteusis
8. Condominium Rules: Required for apartments or properties with shared areas, detailing common parts and obligations
1. Property Plans: Official plans and drawings of the property from Land Registry
2. Energy Performance Certificate: Mandatory EPC documentation as required by Maltese law
3. Title Documentation: Copies of relevant title documents and searches
4. Inventory: Detailed inventory of fixtures, fittings, and contents included in the sale
5. Planning Permits: Copies of relevant MEPA permits and compliance certificates
6. Payment Schedule: Detailed breakdown of payment terms and installments
7. Property Photographs: Documentary photographs of property condition at time of agreement
8. Utilities Documentation: Details of utility accounts and recent bills
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Real Estate Agent
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Notary Public
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Compliance Officer
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Property Acquisitions Manager
Real Estate Investment Manager
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Property Portfolio Manager
Real Estate Transaction Coordinator
Chief Legal Officer
Real Estate Finance Manager
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