Publication date: 10.06.2024
Registering a share in Malta: a step towards worry-free property ownership
On the sunny coast of the Mediterranean Sea, Malta is a picturesque island paradise that attracts travelers with its rich history and unique atmosphere. However, for those who dream of not only visiting this magical country, but becoming a full-fledged owner of real estate, the process of registering a share may seem complicated and incomprehensible. That's why we've prepared a detailed guide for you that will help make this process as stress-free and transparent as possible.
Before proceeding with the registration of a share, it is necessary to understand what a “share” is in the context of Maltese law. A share is a share in the common ownership of real estate, giving the right to use a certain area or premises. Registration of a share is a legal procedure that secures ownership rights to this share.
Checking documentation and collecting necessary documents
The first step is to thoroughly review all documentation associated with the property. This includes sales contracts, floor plans, building permits and other legal documents. It is important to ensure that all information is accurate and up to date.
Registration of legalization of redevelopment of changes
If redevelopment has been carried out in the property or any changes have been made without proper permission, it is necessary to go through the procedure of legitimizing these changes. This may include registration of redevelopment, legalization of a superstructure, extension, or even legalization of the entire building.
Obtaining ownership by acquisitive prescription
If you have already owned real estate for a long period, but do not have legal rights to it, you can use the procedure for acquiring ownership by acquisitive prescription. This will allow you to legally register ownership based on actual possession within the legal period.
Share registration
After you have collected all the necessary documentation and resolved all legal issues, it is time to directly register the share. This process involves filing an application with the appropriate authorities, paying the necessary fees, and waiting for the case to be heard.
When registering a share, it is important to comply with all requirements of Maltese legislation and provide only reliable information. This will help avoid any legal complications in the future.
Obtaining a certificate of ownership
After successful registration of the share, you will receive a certificate of ownership, legally establishing your rights to a share in the common ownership of the property. This document is extremely important because it allows you to freely dispose of your property and protects your rights in case of any disputes.
It should be noted that the process of registering a share in Malta may differ depending on the specific situation and characteristics of the property. Therefore, it is recommended to contact experienced lawyers or real estate agencies who are knowledgeable about local legislation and can provide professional assistance at every stage.
Thanks to a clear understanding of the procedure and compliance with all the necessary requirements, registering a share in Malta will not be a difficult bureaucratic challenge for you, but a pleasant step towards carefree and comfortable property ownership in one of the most attractive corners of the Mediterranean.
