Karadağ Gayrimenkul İşlemlerinde Noterin Rolü
In Montenegro, all property transactions must be executed before a licensed notary public (Notar). Unlike some jurisdictions where lawyers handle property transfers privately, the notary is the central legal authority responsible for ensuring the validity and security of property transactions. This guide explains their duties.
Mandatory Notary Form
Under the Law on Notaries, any agreement transferring real estate ownership must be drafted and executed in the form of a notary record (Notarski Zapis). Contracts signed without notary participation are legally null and void, and cannot be registered in the land cadastre.
Key Duties of the Notary
During a transaction, the notary performs several essential functions:
- Zoning and Cadastre Verification: The notary accesses the online land registry in real-time to confirm the seller is the registered owner and verify if any mortgages, easements, or legal restrictions exist.
- Identity Verification: The notary confirms the identity of all signing parties (using passports for foreigners). If a party does not speak Montenegrin, a licensed court translator must be present.
- Legal Clarification: The notary reads the entire contract aloud and explains the legal consequences of the terms to both parties.
- Escrow Account Services: Many notaries offer secure notary escrow accounts (Notarski Depozit). The buyer transfers the funds to the notary’s escrow account, and the notary releases them to the seller only after confirming the updated ownership registry.
Notary Fees and Cadastre Filing
Notary fees are regulated by state law and are based on a sliding scale linked to the property value:
- Fees: Range from approximately €150 for small properties to €1,000+ for high-value luxury properties.
- Filing: Following signing, the notary is legally required to submit the transaction data to the local Cadastre Office within 24 hours to register the new owner.
