Real Estate Purchase And Sale Agreement for Malta

Real Estate Purchase And Sale Agreement Template for Malta

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Real Estate Purchase And Sale Agreement

"I need a Real Estate Purchase and Sale Agreement for a commercial property in Malta's Sliema district, with completion scheduled for March 2025, that includes provisions for existing tenant agreements and the transfer of all associated permits and licenses."

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What is a Real Estate Purchase And Sale Agreement?

The Real Estate Purchase And Sale Agreement is a fundamental document used in Malta for property transactions, essential for both residential and commercial property transfers. It must comply with strict requirements under Maltese law, including the Civil Code and property-specific legislation. The document is required whenever there is a transfer of immovable property ownership and must be executed in front of a Notary Public. It includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and completion requirements. Special considerations are incorporated for non-resident purchasers regarding AIP permits, and the document ensures compliance with local fiscal obligations including stamp duty. This agreement serves as the basis for the final notarial deed of transfer and must include all elements required for proper registration with the Public Registry.

What sections should be included in a Real Estate Purchase And Sale Agreement?

1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses as required by Maltese law

2. Background: Context of the transaction including brief property description and intention to sell/purchase

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 exact property details and registration information

5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment schedule

6. Deposit: Details of the deposit amount, when and how it should be paid, and conditions for retention or return

7. Completion: Requirements and process for completion of the sale, including timing and notarial deed requirements

8. Vendor's Representations and Warranties: Warranties regarding property ownership, absence of encumbrances, and other standard representations

9. Property Condition: Statement of the condition in which the property will be transferred

10. Title and Registration: Provisions regarding clean title transfer and registration requirements

11. Costs and Taxes: Allocation of notarial fees, stamp duty, and other transaction costs

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

13. Notices: How formal notices between parties should be given

14. Governing Law and Jurisdiction: Confirmation of Maltese law governance and jurisdiction

15. Execution: Signature requirements and execution provisions

What sections are optional to include in a Real Estate Purchase And Sale Agreement?

1. AIP Permit: Required when purchaser is a non-resident, detailing the Acquisition of Immovable Property permit requirements

2. Existing Tenancies: Required when property is subject to existing tenancies, detailing arrangements and obligations

3. Mortgage Arrangements: Include when purchase is subject to mortgage financing, detailing conditions and requirements

4. Property Management: Include for properties in multi-unit developments with shared facilities or management companies

5. Construction Completion: Required for properties under construction or requiring completion works

6. Planning Permissions: Include when property requires specific planning permissions or has pending applications

7. Special Designations: Required for properties in Urban Conservation Areas or with historical protection status

8. Furniture and Fittings: Include when sale includes movable property, listing included and excluded items

What schedules should be included in a Real Estate Purchase And Sale Agreement?

1. Property Description: Detailed description of the property including boundaries, measurements, and registration details

2. Property Plan: Official site plan and property drawings as registered with the Land Registry

3. Inventory: List of included furniture, fittings, and equipment if applicable

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

5. Title Documentation: Copies of relevant title documents and searches

6. Energy Performance Certificate: Required EPC documentation

7. Planning Permits: Copies of relevant MEPA permits and applications

8. Condition Report: Survey or condition report if referenced in the agreement

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

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Relevant Industries

Real Estate

Banking and Finance

Legal Services

Property Development

Construction

Hospitality

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Relevant Teams

Legal

Real Estate

Compliance

Finance

Operations

Business Development

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Risk Management

Corporate Affairs

Administrative Support

Relevant Roles

Real Estate Agent

Property Lawyer

Notary Public

Property Manager

Real Estate Development Manager

Facilities Manager

Corporate Lawyer

Legal Counsel

Property Surveyor

Banking Manager

Mortgage Advisor

Property Valuer

Compliance Officer

Real Estate Investment Manager

Chief Executive Officer

Chief Financial Officer

Operations Director

Business Development Manager

Industries
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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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