The Pre-Sale Agreement serves as a fundamental document in Maltese property transactions, establishing legally binding obligations between parties intending to complete a property sale. It is typically used when parties have agreed on essential terms but require time before proceeding to the final deed, often due to the need for due diligence, bank financing, or permit requirements. The agreement must comply with specific requirements under Maltese law, including registration with tax authorities within 21 days of signing. It provides protection for both parties by setting out clear terms, conditions, and timeframes for the completion of the sale, while allowing for necessary preparations before the final transfer. This document is particularly crucial in Malta's property market, where such preliminary agreements are standard practice and governed by strict regulatory requirements.

1. Parties: Identification and details of the Promise Purchaser and Promise Seller, including ID numbers as required by Maltese law

2. Background: Context of the transaction, including brief property description and parties' intentions

3. Definitions: Key terms used throughout the agreement, including specific Maltese legal terminology

4. Property Description: Detailed description of the property being sold, including boundaries and registration details as per Land Registry requirements

5. Purchase Price: Agreement on the total consideration and payment terms, including deposit amounts

6. Deposit Terms: Details of the deposit payment, holding arrangements, and conditions for release

7. Duration of Agreement: Validity period of the promise of sale agreement, typically up to three months with possibility of extension

8. Conditions for Final Deed: Requirements and conditions that must be met before proceeding to final deed of sale

9. Title and Searches: Seller's warranties regarding property title and buyer's rights to conduct searches

10. Taxation and Expenses: Allocation of costs, including duty on documents, notarial fees, and other expenses

11. Default Provisions: Consequences of default by either party and remedies available

12. Notices: Process and requirements for formal communications between parties

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