What does the notary do in a property transaction and who pays for it?
In a real estate transaction, the notary is the figure who guarantees the legal validity of the contract and ensures that the entire process is carried out in compliance Albanian law. In Albania, the presence of a notary is mandatory for the legalization of the property transfer deed. The role of the notary is essential to protect both parties involved, to prevent fraud, and to ensure a transparent and lawful transaction. If you are looking for detailed advice on your specific case, you can contact our notary office directly in Tirana.
The notary's key functions in property transactions
The notary performs several fundamental tasks during the purchase and sale process:
1. Preliminary verification of documentation
The notary checks:
- the legal identity of the buyer and seller;
- the cadastral documents of the property;
- the actual ownership and the absence of mortgages or liens.
2. Drafting of the notarial deed
The notary drafts the notarial deed of sale in accordance with:
- the will of the parties;
- the laws in force in Albania (Law No. 7829, dated 1.6.1994 "On Public Notaries");
- the formal requirements established by the legislation.
3. Legalization and signing of the contract
The notary ensures that:
- the parties sign in the notary's presence;
- there is full awareness of the obligations arising from the agreement;
- the deed has full legal force.
4. Registration at the Immovable Property Registration Office
After the signing, the notary submits the deed to the Immovable Property Registration Office for the official registration of the new owner.
Who is responsible for paying the notary in a property transaction in Albania?
In general, the buyer is the one who pays the notary fees, unless the parties agree otherwise. This is a common practice, but it is not mandated by law.
The cost of the notary varies depending on:
- the value of the property;
- the complexity of the deed;
- registration fees and other related taxes.
In Albania, notary fees for a real estate transaction are generally proportionate to the value of the property and follow public fee schedules officially approved by the National Chamber of Notaries, which notaries are required to comply with. In addition to these fees, there are also costs for cadastral registration.
Why is it important to engage a notary?
- guarantees the legality and transparency of the transaction;
- prevents legal disputes in the future;
- protects the buyer from forged deeds or hidden encumbrances;
- is the only professional authorized to legalize property sale deeds in Albania.
Conclusion
Engaging a notary in a property purchase and sale process in Albania is not only a legal requirement but also a guarantee of security. The notary not only ensures the legal validity of the agreement but also provides preliminary advice to help avoid potential problems.
Contact us today to book an appointment at our office in Tirana and receive the legal and notarial assistance you deserve.
Frequently Asked Questions (FAQ) notary role real estate transactions in Albania
Is a notary mandatory for a property sale in Albania?
Yes, the presence of a notary is mandatory to legalize the transfer of ownership according to Albanian law.
Who decides which notary will be used in a property transaction?
Usually, the parties agree together on the choice of the notary, but in many cases, it is the buyer who proposes a trusted notary.
What happens if the property has a mortgage?
If the property has a mortgage, the notary is required to disclose it, and in most cases, the transaction cannot proceed until the encumbrance is resolved.
How long does the process take from signing to registration at the cadastre?
Under normal conditions, registration is completed within 15–30 days, depending on the workload of the Immovable Property Registration Office.