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10 Things A Notary Can Do For You

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A notary is a public officer and is duty-bound to provide fair and impartial advice which protect the interests of both buyers and sellers. Notary fees are set by law.

The buyers usually hire the notary themselves to be totally sure there is no conflict of interest. The sellers may recommend their own notary, especially if they are contractors, but it is always advisable to choose your own notary.

The notary will then:

1. Draw up the konvenju and eventually, the Final Deed.

2. Keep the deposit and stamp duty payment in a ‘notarial deposit account’, and dispense them to the seller and the government when appropriate.

3. Order searches to ensure that the seller has ‘good title’ and that the sale will not be legally impeded. They should provide a report in writing with their advice and a list of documents compiled during the search.

4. Obtain tax clearance from the Commissioner for Revenue before proceeding with the final contract if the seller is either not Maltese or not resident in Malta.

5. Obtain special permits for foreign, non-EU buyers. 

6. Present the relevant documents to the bank if the buyer is going to take out a mortgage. 

7. Cancel any previous pending hypothecs (loans using the property as a guarantee).

8. Pay the stamp duty (which the buyer will provide).

9. Register the deeds in the Malta Public Registry or the Gozo Public Registry, and in the Land Registry, as appropriate.

10. Put together the Register of the Original Act and send copies to all parties.

 

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