The Agreement Of Purchase And Sale (Real Estate) is a crucial legal document used in Malta for property transactions between vendors and purchasers. This agreement type is essential for documenting the complete terms and conditions of real estate sales in compliance with Maltese law, including the Civil Code (Chapter 16) and related legislation. It serves as the primary contract documenting property details, price, payment terms, conditions, warranties, and completion requirements. The agreement is typically prepared following a preliminary agreement (konvenju) and precedes the final deed of sale, which must be executed before a Notary Public. It's particularly important in Malta's active real estate market, where property transactions must adhere to specific local legal requirements, including stamp duty regulations and anti-money laundering provisions.
Agreement Of Purchase And Sale (Real Estate) for Malta
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Agreement Of Purchase And Sale (Real Estate)
"I need an Agreement of Purchase and Sale (Real Estate) for a residential property in Sliema, Malta, with a purchase price of 鈧450,000, scheduled for completion by March 2025, including standard warranties and an inventory of included furniture."
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1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses
2. Background: Context of the sale, including brief property description and any relevant history
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including exact location, boundaries, and measurements as per Land Registry documentation
5. Purchase Price: Statement of the purchase price, payment terms, and deposit arrangements
6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and any conditions attached to payments
7. Completion: Terms and conditions for completion of sale, including timing and requirements
8. Vendor's Warranties: Warranties regarding property ownership, absence of encumbrances, and other standard seller guarantees
9. Property Condition: Statement about the condition in which the property will be transferred
10. Costs and Taxes: Allocation of costs, including notarial fees, stamp duty, and other transaction costs
11. Risk and Insurance: Provisions regarding transfer of risk and insurance responsibilities
12. Notices: Process for serving notices between parties
13. Governing Law: Confirmation of Maltese law as governing law and jurisdiction
14. Execution: Signature blocks and execution formalities
1. Tenant Rights: Required if the property is currently leased - details of existing tenancies and their treatment
2. Planning Permits: Required for properties with pending planning applications or recent developments
3. Mortgage Details: Required if the property is being purchased with bank financing
4. Condominium Rules: Required for apartments or units in shared buildings
5. Agricultural Land Provisions: Required for agricultural land sales, including any special permissions
6. Heritage Property Conditions: Required for properties with heritage protection status
7. Furniture and Fittings: Required if sale includes movable property
8. Development Obligations: Required if property comes with specific development requirements or restrictions
1. Property Plans: Official architectural plans and site plans of the property
2. Land Registry Documents: Copies of official Land Registry documentation and searches
3. Energy Performance Certificate: Current EPC as required by Maltese law
4. Inventory: List of included furniture and fittings (if applicable)
5. Planning Permits: Copies of relevant MEPA permits and applications
6. Title Documentation: Historical title documents and proof of ownership
7. Service Agreements: Details of ongoing service contracts that may affect the property
8. Condition Report: Survey or condition report if commissioned
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Property Development
Construction
Property Management
Investment and Asset Management
Professional Services
Notarial Services
Property Valuation
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Investment
Asset Management
Due Diligence
Sales
Transactions
Risk Management
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Notary Public
Compliance Officer
Property Developer
Investment Manager
Asset Manager
Real Estate Broker
Contract Manager
Due Diligence Officer
Property Valuation Specialist
Transaction Manager
Real Estate Investment Advisor
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