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The legal process on property purchase in Montenegro requires two conditions to be completed: the legal entitlement to the property, and the registration of said property with the Area Property Registry. A written preliminary contract is drawn up which includes a statement of the full purchase price and a date for the completion of transfer. The establishment of property rights is then obtained ensuring that the vendor has legal authority to sell and that there are no pending claims on the property before the courts. Once this process is completed, a final contract is signed by all parties or their authorised representatives, and signatures are verified before a court within the country. The finalised and certified contract establishes the legal ownership and all monies and contracts must be exchanged by the agreed completion date. A 2% purchase tax is paid at time of completion and then the title documents are then submitted to the Area Property Registry where the property is registered in the buyers name. This registration can take up to 10 days.
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