Buying properties in Montenegro for foreigners
The procedure for buying real estate in Montenegro is very simple,
It involves several phases and takes several days. Purchase agreement
compiled and authenticated by a local notary.
After selecting a property it is necessary to check the documentation,
terms and conditions with the seller, to pay tax on the real estate market
in the amount of 3% of the value of the property and register the ownership rights.
The presence of both parties is necessary when verifying the sales contract
included in the contract, or their proxies.
In case one of the parties is legal entity it is required to attach appropriate legal entity documentation. If
one of the participants is a foreign citizen, presence of an authorized court interpreter it is necessary.
The costs of verifying the contract of sale with the notary depend on
property values, all tariffs are fixed. The factual customer becomes
the owner of the property after payment of the total amount of the purchase price,
however, property list is a document that confirms the right of ownership and
it is issued by the Real Estate Directorate of Montenegro. Request for registration
property rights under a sales contract can be handed over
by notary, also by the customer himself.
When buying land, the buyer must check acreage with the help
of authorized geodetic organizations. Also, before assembly
the purchase contract, it is necessary to obtain the excerpt
plan documentation (?) land related.