Real Estate Consulting by MontConsultants

The legal process buying a property in Herceg Novi Montenegro:

The United Kingdom and Montenegro have a reciprocal agreement which is required for foreigners to purchase property in Montenegro. Please note the purchase of pots, land, or properties with a significant quantity of land attached may require the establishment of a local company formation.

The selling and buying of properties is without restriction in Montenegro and is regulated by law and legally secure.
Ownership is guaranteed and in that respect there are no limitations, the only exceptions being public property i.e. squares and streets.

The Legal Property Process in 2 Steps:

It is necessary to complete 2 procedures to complete a property purchase:

• 1) Justus titulus: Legal entitlement to the property
• 2) Registration with the Area Property Registry (County Municipal)
  

You need to a written contract which must be signed by the buyer and seller, (or elected legal representatives), of the respective property. Signatures of both parties must be sealed at the local court.

Before moving to contract stage it is necessary for the sellers ownership papers to be checked in the local land registry. Sometimes properties can have disputed ownership and only properties with clean ownership should be considered.

It is often common to sign a pre-contract which will be legally binding to both parties and 10% deposit from the buyer is required.

This pre-contract will specify the selling price of the property and timetable for completion of the main contract action.

We advise for “Signing a Power of Attorney” to us a local lawyer. This can be done shortly in a local court. Courts are open from 08:00 to 13:00 Monday to Friday. You will need a valid passport.

After the completion of the main contract including exchange of monies the inland revenue will determine an appropriate taxable value and a 2% tax will be charged on this value.

Is the 2% tax fee paid it will confirmed with a court stamp and the contract is then passed to the local area land registry for registration of the property.
At this point the purchase should be complete.

Property  Listings at HercegNovi365.com

All properties are advertised by their owners or Real Estate Agencies.Find exactly the right Property or Holiday Accommodation to suit you.

1. To buy or rent properties, you contact the owner or Real Estate Agency direct.
2. All Real Estate Offers and Rental advertisements provide the telephone number, fax number and/or an email link of the owners or their property agent.
3. However you choose to communicate, the listings enable you to directly contact an owner or an agent who really knowe about the property and can answer specific questions for you.