The Real Estate Contract of Sale is a fundamental document in Maltese property transactions, required whenever real estate is transferred between parties. This contract type must be executed as a public deed before a Notary Public, reflecting Malta's civil law system and strict requirements for property transfers. It encompasses all essential elements required by Maltese law, including detailed property descriptions, party identification, warranties, and specific provisions required by local regulations. The document is particularly important in Malta's dynamic property market, which serves both domestic and international buyers, and must account for various scenarios including Special Designated Areas, non-resident purchases, and AML requirements. It forms the basis for property registration with the Land Registry and is crucial for establishing clear title and ownership rights.
Real Estate Contract Of Sale for Malta
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Real Estate Contract Of Sale
"I need a Real Estate Contract of Sale for a residential property in Sliema, Malta, with completion scheduled for March 15, 2025; the sale includes furniture and appliances, and I need to ensure all energy performance requirements are met."
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1. Parties: Identification of the Vendor and Purchaser with full legal names, ID numbers, addresses, and marital status as required by Maltese law
2. Background: Context of the sale including brief property history and current ownership status
3. Definitions: Definitions of key terms used throughout the contract
4. Property Description: Detailed description of the property including boundaries, measurements, and registration details as per Land Registry requirements
5. Sale and Purchase Agreement: Core agreement for the sale and purchase, including the price and payment terms
6. Completion: Details of the completion process, timing, and requirements for transfer of title
7. Vendor's Warranties: Warranties regarding property ownership, encumbrances, and compliance with laws
8. Property Condition: Statement of the condition in which the property is being sold and any included contents
9. Expenses and Taxes: Allocation of expenses, stamp duty, and other taxes between parties
10. Possession and Risk: Terms regarding transfer of possession and risk to the property
11. Energy Performance: Mandatory energy performance certificate details as required by law
12. Notices: Process for serving notices between parties
13. Governing Law: Confirmation of Maltese law as governing law and jurisdiction
14. Execution: Execution clauses and notarial requirements
1. Special Designated Area Provisions: Required if the property is located in a Special Designated Area with specific regulations
2. AML Declarations: Enhanced due diligence declarations for high-value transactions or foreign purchasers
3. Permitted Use: Specific clauses regarding zoning and permitted use where relevant
4. Planning Permits: Details of existing permits or pending applications where relevant
5. Tenancies: Details of any existing tenancies if property is sold subject to tenancies
6. Mortgage Arrangements: Required if the purchase is subject to bank financing
7. Non-Resident Provisions: Required when the purchaser is non-resident, including AIP permit details
8. Conditional Clauses: Any conditions precedent to completion
9. Service Charges: Required for properties in developments with common areas and service charges
1. Property Plan: Official site plan and measurements of the property
2. Inventory: List of included contents and fittings where applicable
3. Title Documents: Copies of relevant title documents and searches
4. Energy Performance Certificate: Copy of the mandatory EPC
5. Planning Permits: Copies of relevant MEPA permits and applications
6. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
7. Common Parts: Details and plans of common parts in developments
8. Service Charge Budget: Current service charge details for properties in developments
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