The Presale Agreement, or konvenju, is a fundamental document in Maltese property transactions, required under Chapter 16 of the Laws of Malta. It serves as a binding preliminary agreement that precedes the final deed of sale, protecting both parties' interests during the transaction process. This document is typically used when parties have agreed on the basic terms of a property sale but need time for due diligence, securing financing, or obtaining necessary permits. It must be registered with the Inland Revenue Department within 21 days of signing and remains valid for a maximum of three years. The agreement includes crucial details about the property, parties involved, purchase price, payment terms, conditions precedent, and timeframes for completion. It's particularly important in Malta's property market where foreign investment and complex development projects often require extended closing periods.

1. Parties: Identification of the Promisor (seller) and Promisee (buyer) with full legal names, registration numbers for companies, ID numbers for individuals, and registered/residential addresses

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

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property being sold, including boundaries, measurements, and reference to land registry details

5. Purchase Price: The agreed purchase price, deposit amount, and payment schedule

6. Deposit: Terms regarding the deposit payment, amount, and conditions for retention or refund

7. Duration: Validity period of the promise of sale (konvenju), not exceeding 3 years as per Maltese law

8. Conditions Precedent: Conditions that must be fulfilled before the final deed of sale can be executed

9. Due Diligence: Seller's obligations to provide documentation and buyer's right to conduct searches

10. Warranties and Representations: Seller's warranties regarding property title, encumbrances, and condition

11. Final Deed: Conditions and timing for the execution of the final deed of sale

12. Taxes and Expenses: Allocation of responsibility for stamp duty, notary fees, and other transaction costs

13. Default and Remedies: Consequences of default by either party and available remedies

14. Notices: Method and addresses for serving formal notices between parties

15. Governing Law and Jurisdiction: Confirmation of Maltese law as governing law and jurisdiction of Maltese courts

16. Execution: Signature blocks and execution formalities