Agreement Between Buyer And Seller Of Property for Malta

Agreement Between Buyer And Seller Of Property Template for Malta

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Agreement Between Buyer And Seller Of Property

"I need an Agreement Between Buyer And Seller Of Property for a luxury villa in Mellieha, Malta, with completion scheduled for March 2025, including specific provisions for a swimming pool and private access to the beach, where the buyer is a non-EU resident requiring AIP permit."

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What is a Agreement Between Buyer And Seller Of Property?

The Agreement Between Buyer And Seller Of Property is a crucial legal document used in Malta for real estate transactions. It represents the final stage of the property transfer process, typically following a preliminary promise of sale agreement (konvenju). This agreement is essential for both residential and commercial property transactions in Malta and must comply with specific requirements under Maltese law, including notarial execution and registration with the Public Registry. The document encompasses all aspects of the property transfer, from detailed property descriptions and price terms to warranties and completion requirements. It's particularly important in the Maltese context due to the unique aspects of local property law, including ground rent considerations, special designated areas regulations, and specific requirements for foreign buyers. The agreement serves as the definitive record of the transaction terms and ensures compliance with all relevant Maltese property transfer regulations.

What sections should be included in a Agreement Between Buyer And Seller Of Property?

1. Parties: Identification and details of the Vendor and Purchaser, including full legal names, ID numbers, and addresses as required under Maltese law

2. Background: Context of the sale, brief property history, and reference to any preliminary agreements (konvenju)

3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price', etc.

4. Sale and Purchase: Core agreement for the sale and purchase of the property, including the exact description of what is being sold

5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and method of payment

6. Property Details: Comprehensive description of the property, including boundaries, measurements, and any included fixtures and fittings

7. Completion: Details of the completion process, timing, and requirements for final deed (kuntratt)

8. Vendor's Warranties: Warranties regarding property ownership, absence of encumbrances, planning permissions, and other legal requirements

9. Purchaser's Warranties: Warranties regarding ability to complete the purchase and compliance with relevant laws

10. Costs and Taxes: Allocation of costs, including notary fees, stamp duty, and other transaction costs

11. Possession: Terms for delivering possession of the property and handling of keys

12. Notices: Process for serving formal notices between parties

13. Governing Law: Confirmation of Maltese law as governing law and jurisdiction

14. Execution: Signature blocks and execution formalities

What sections are optional to include in a Agreement Between Buyer And Seller Of Property?

1. Ground Rent: Required when the property is subject to ground rent (ċens)

2. Conditions Precedent: Used when completion is subject to specific conditions such as bank financing or planning permissions

3. Special Designations: Required for properties in Special Designated Areas or subject to specific regulations

4. Tenancies: Required when the property is sold subject to existing tenancies

5. Planning Permits: Detailed section on planning permits when the property involves recent construction or modifications

6. AIP Requirements: Required when the purchaser is a non-resident requiring Acquisition of Immovable Property permit

7. Service Charges: Required for apartments or properties within managed complexes

8. Condominium Rules: Required for properties subject to condominium regulations

What schedules should be included in a Agreement Between Buyer And Seller Of Property?

1. Property Description Schedule: Detailed technical description of the property, including plans and measurements

2. Inventory Schedule: List of movable items included in the sale

3. Planning Permits Schedule: Copies or details of relevant MEPA/Planning Authority permits

4. Title Documentation Schedule: List of title documents and their details

5. Payment Schedule: Detailed breakdown of payment terms and installments if applicable

6. Condition Report: Report on the current condition of the property

7. Energy Performance Certificate: Required EPC documentation

8. Land Registry Plans: Official plans and surveys from the Land Registry

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Legal Services

Banking and Finance

Construction

Property Development

Property Management

Residential Property

Commercial Property

Professional Services

Public Notary Services

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Operations

Corporate Services

Investment

Acquisitions

Document Management

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Notary Public

Property Developer

Legal Counsel

Conveyancing Lawyer

Real Estate Investment Manager

Property Acquisition Manager

Compliance Officer

Real Estate Portfolio Manager

Property Valuation Specialist

Real Estate Transaction Coordinator

Legal Document Specialist

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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