The Deed of Portion Sale is a fundamental legal instrument in Maltese property law, used when transferring ownership of a specific portion of a larger property or development. This document is essential in situations involving the sale of apartments, office units, or other divided properties where the transferred portion is part of a larger whole. The deed must be drafted and executed in accordance with strict requirements under Maltese law, including the Civil Code and Notarial Profession and Notarial Archives Act. It contains crucial information about property boundaries, access rights, common areas, and specific conditions of sale. The document is particularly important in Malta's growing real estate market, where property division and multi-unit developments are common. The Deed of Portion Sale requires careful attention to detail in describing shared facilities, maintenance obligations, and co-ownership arrangements, making it a critical document for property developers, buyers, and legal practitioners.
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1. Parties: Detailed identification of the Vendor(s) and Purchaser(s) including full names, ID numbers, addresses, and marital status as required by Maltese law
2. Background: History of ownership, explanation of how the portion came to be owned, and context of the current sale
3. Definitions: Key terms used throughout the deed, including 'Property', 'Portion', 'Common Parts', etc.
4. Property Description: Detailed description of the portion being sold, including boundaries, measurements, and reference to approved plans
5. Title and Origin: Declaration of vendor's title to the property and chain of previous transfers
6. Sale: The actual agreement of sale, transfer of rights, and conditions of transfer
7. Consideration: Purchase price, payment terms, and method of payment
8. Warranties: Vendor's warranties regarding title, possession, freedom from encumbrances, etc.
9. Common Parts: Description and regulations regarding shared areas and facilities
10. Possession and Transfer: Terms of property handover and transfer of possession
11. Execution: Formal execution clause, notarial declarations, and signatures
1. Conditions Precedent: Used when the sale is subject to specific conditions that must be fulfilled before completion
2. Bank Finance: Include when the purchase is being financed through a bank loan
3. Services and Utilities: Detailed section about utility connections when the portion involves separate utility arrangements
4. Planning Permits: When the portion involves ongoing or pending development permits
5. Rights of First Refusal: When other co-owners have pre-emption rights on future sales
6. Tax Declarations: Special tax considerations or declarations required for particular types of transfers
7. Energy Performance: When required for residential properties under EU regulations
1. Property Plans: Architectural plans showing the portion being sold, boundaries, and measurements
2. Land Registry Site Plan: Official site plan from Land Registry showing the property location
3. Inventory: List of any moveable property included in the sale
4. Common Parts Regulations: Detailed regulations governing the use and maintenance of common areas
5. Payment Schedule: If payment is to be made in installments
6. Planning Permits: Copies of relevant MEPA permits and applications
7. Energy Performance Certificate: Copy of the EPC where required by law
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