Pytania i odpowiedzi o nieruchomościach na Malcie
What is a konvenju in Malta?
W skrócie
The konvenju is the promise of sale, the binding preliminary agreement between buyer and seller in a Maltese property transaction. It fixes the price and terms, and gives the notary time to complete searches before the final deed.
Szczegóły
Signing the konvenju commits both parties, subject to the conditions written into it, which commonly include the buyer obtaining bank financing and the property having clean title. A deposit, customarily 10% of the price, is normally paid on signing and held by the notary. Provisional stamp duty is paid at this stage too, with the balance falling due at the final deed.
Between the konvenju and the deed the notary carries out searches to confirm the seller can transfer clear title, and registers the agreement with the tax authorities. If a written condition is not met the agreement can fall away under its own terms; walking away without one has consequences the agreement itself sets out. This is the stage where having your own notary matters.
Powiązane pytania
Is a konvenju legally binding in Malta?
Yes. It is a binding preliminary agreement, subject to whatever conditions the parties wrote into it, such as financing being approved or title being clear.
How long does a konvenju last in Malta?
Three months is the customary period, and it can be agreed longer where financing or permits need more time. The final deed is signed before it expires.