Notary orders the verification and clarification of the property data
Agency: Information system of the Real Estate Agency
Resolution No. 527 of the Government of the Republic of Lithuania as of May 4, 2011 On the amendment of Resolution No. 1129 of the Government of the Republic of Lithuania of July 12, 2002 On the approval of the Real Estate Cadastre regulations stipulates that a notary public, at the initial stage of preparing an immovable property transaction, is required to order verification and revision of cadastral and registration data of an immovable item that are necessary for the execution of the immovable property contract.
The Information System of Public E-Services for Immovable Property Transactions shall generate a notice on the future transaction and submit it to the Registrar of Real Estate. Having received the notice, the Registrar of Real Estate shall verify and, if necessary, revise the cadastral and registration data of the immovable item that are necessary for the execution of the immovable property transaction (or, in certain cases, refuse to revise the data due to specific reasons) and make a relevant note of the data revision with the Real Estate Register. The note shall be valid for 30 calendar days after the data revision. Data of the Real Estate Cadastre and Register required for the execution of the immovable property transaction must be verified and the notes of data revision or refusal to revise them must be made latest in 8 working hours or, in certain cases subject to the status of cadastral and registration data of the immovable item held by the Real Estate Register, latest in 3 working days from the receipt of notice of pending transaction from the Information System of Public E-Services for Immovable Property Transactions.
Time and cost: Less than one day (online), EUR 3.62
Notarization of the sale-purchase agreement
Agency: Notary Public
Pursuant to the Resolution No. 1129 of the Government of the Republic of Lithuania from July 12, 2002 “On the approval of the Real Property Register Regulations”, Civil Code, Law on Land and Law on Companies of the Republic of Lithuania with later amendments thereof, a contract of purchase and sale of an immovable item must be made in a notarial form. Failure to comply with the requirements of the form shall render the contract invalid. The contract of purchase and sale of an immovable item may be used against third parties and have legal implications for them only in case it is registered with the public register in the statutory Procedure (procedure 3). The title (right of ownership) to the immovable item shall devolve to the buyer from the moment of transfer of the item. The transfer and acceptance of the immovable item shall be documented in a statement of transfer and acceptance signed by the seller and the buyer or in another document specified in the contract of purchase and sale. Likewise, the provisions regarding the transfer and acceptance of the immovable item may be inserted in the contract of purchase and sale. In such a case, the item and the title thereto shall transfer to the buyer at the moment of signing the contract.
The Directive 2010/31/EU of European Parliament and Council of 19 May 2010 on the energy performance of buildings was enforced in Lithuania. Respective amendments to the Republic of Lithuania Law on Construction as from 9 January 2013 came into force. The energy efficiency certification is mandatory in case of sale of the property. The seller of a building being sold must provide the buyer with a valid energy efficiency certificate of a building or part thereof, save as in cases established by the Law on Construction (e.g., the energy efficiency certification shall not be mandatory for non-residential buildings of low energy consumption used for industrial, warehousing and agricultural management purposes).
The list of documents to be submitted to notaries include:
- Articles of association of private limited liability companies;
- Power-of-Attorney issued by the CEO of a private limited liability company, if another authorized person, instead of the CEO, is acting on behalf of the company;
- Personal ID of the representatives of the parties to the contract;
- Resolution of the board of a private limited liability company (if this body has been formed) in cases when the book value of the immovable property to be sold exceeds 1/20 of the authorized capital of the company or any other value established in the articles of association of the company. Where no board is formed in the company, such resolution shall be passed by the CEO of the company;
- Where so is specified in the articles of association of a private limited liability company, approval of the aforementioned resolutions of the board or CEO (if the board is not formed) by the general meeting of shareholders;
- Land plot plan;
- Documentary proof of seller’s title to immovable items (legal basis for the acquisition of the immovable item, for example, a contract of exchange, a contract of purchase and sale, etc., on which basis the title to the immovable item has been registered);
- Energy Performance Certificate (an original document or a copy) shall be submitted to a notary. In case if the energy consumption of the building is low/the building is not heated, the provision of the energy certificate is not required;
- Other documents, if requested subject to factual circumstances.
Time and cost: 1 day, EUR 3,518.96 (Notary fees: 0.45% of property price, but not less than € 28.96 and not exceeding € 5,792.40 (€ 14,481, if more than one object is transferred). In addition, EUR 3.62 is a fee payable to the Center of Registers for verification and revision of cadastral and registration data of an immovable item as well as for the making of data revision notes (by the Center of Registers))
Register the transfer of title to the property in the Real Estate Register
Agency: Notary Public / State Enterprise Center of Registers
Due to revisions of Law on Real Property Register of the Republic of Lithuania and Regulations of the Real Property Register mentioned previously, one-stop-shop principle was fully implemented in the immovable property transfer process, i.e. a buyer and a seller only visit the notary public office in order to conclude the property transfer and to register the ownership rights. After notarizing (with digital signature) the prepared agreement, the notary orders the registration of new ownership rights online in the Centre of Registers immediately. However, the ownership transfer will be reflected in the system of the Register no later than 1 working day.
Due to introduction of euro in Lithuania on 1 January 2015, registration fees remained the same, only ranges of average market value for calculation of registration fees of buildings and land plots were adjusted. Therefore, the corrections are given below:
Average market value of building – registration fee:
- Up to EUR 14,500 = EUR 37.65
- From EUR 14,501 to EUR 232,000 = EUR 37.65 + 0.05% difference between building’s average market value and EUR 14,500
- From EUR 232,001 to EUR 870,000 = EUR 146,26 + 0.055% difference between building’s average market value and EUR 232,000
- More than EUR 870,000 = EUR 496,70 + 0,05% difference between building’s average market value and 870,000, but not more than EUR 1448,10 (the ultimate cap fee for registration
Average market value of land plot – registration fee:
- Up to EUR 2,900 = EUR 23.17
- From EUR 2,901 to EUR 29,000 = EUR 23.17 + 0.3% of the difference between land plot’s average market value and EUR 2,900
- From EUR 29,001 to EUR 290,000 = EUR 101.37 + 0.3% of the difference between land plot’s average market value and EUR 29,000
- More than EUR 290,000 = EUR 883.34 + 0.2% of the difference between land plot’s average market value and EUR 290,000, but not more than EUR 1448.10 (the ultimate cap fee for registration)
Legal basis: Law Amending Articles 17, 23, 26 and Invalidating Article 25 of the Law on Real Property Register No I-1539 of the Republic of Lithuania as of 23 June 2015 No XII-1833; Resolution No 1194 of the Government of the Republic of Lithuania as of 18 November 2015 on Amendment to Resolution No 379 of the Government of the Republic of Lithuania as of 23 April 2014 on Approval of the Real Property Register Regulations
Time and cost: 2 days, EUR 2,638.08 (10 business days (regular Procedure); But can be done in 3 business days by paying a 30% mark-up on the price (fast-track Procedure), in 2 business days with a 50% mark-up (fast-track Procedure), and in 1 business day with a 100% mark-up (fast-track Procedure))