All About Property Ownership and Title Deed in Montenegro

Created21.01.2024, 10.00
Updated24.01.2024, 13.18

Becoming a homeowner in Montenegro has been a trending idea recently. It is mostly because of its investor-friendly tax rates, good investment returns, and wonderful living conditions. Here is all you need to know about real estate ownership and certificate of title deeds in Montenegro.

Essentials of Property Ownership in Montenegro

The ownership types are twofold in Montenegro leasehold and freehold. A big part of properties are freehold where the owner holds the rights of both the land and property. It is the highest level of ownership. Leasehold certificate on title deed, on the other hand only gives the rights of the property, not the land it’s built on.

Essentials of Property Ownership in MontenegroOwnership rights on Montenegro real estate title deeds can be shared between individuals. Joint ownership is a common concept in Montenegro. The share of each individual is openly stated in the title deed and recognized by the law.

There are no obligations against foreigners buying real estate in Montenegro. However, there are a couple of restrictions on where the real estate purchased is located. For example, foreigners cannot buy real estate at;

• Natural reserves
• Lands in public use owned by the government, city, or municipality
• Agricultural lands or forests exceeding 5000 sqm
• Cultural monuments
• Land-border areas
• Islands
• Any land prohibited by the government to protect the country’s security and interests

Places other than the areas mentioned above are open for the purchase of real estate by foreigners.

The ownership rights are transferable. It is conducted under the supervision of an authorized notary and sworn translator in the notary public in Montenegro. If the owner is transferring their ownership rights to a certain spouse, children, or parents; they will be exempted by the real estate transfer tax. If it is transferred to another individual, the title deed transfer tax is obligatory.

It might take a couple of months for the certificate of ownership of real estate in Montenegro to be issued. It is usually around 2-3 months. However, the buyer is recognized as the property owner before the law from the date the notary approves the sale. Even before the document is issued, the buyer is free to use the purchased property as an owner.

For further reading, you can take a look at the buying guide we’ve prepared to learn all about property purchasing in Montenegro.

Declaration of Ownership: The Title Deed in Montenegro

Declaration of Ownership: The Title Deed in MontenegroThe title deed is an authenticated document that declares and safeguards the ownership rights of an asset by the law. The title deed is called “List nepokretnosti” in Montenegro. It can be also known as “Zapisnik o pravu vlasništva” in Montenegro. The Montenegro title deed format consists of certain information about a property and its owner such as;

• Personal information of the owner/s including name, surname, birth date, identity number, etc.
• The share of the ownership rights as a percentage
• Property details including parcel’s size, additional structures on the plot
• Encumbrances over the property

The cadastre system in Montenegro has developed visibly in recent years and is always updated. From time to time, the land details of the properties such as parcel information in the system often change.

To keep the records of the latest revisions in the system, the Government of Montenegro has created a completely online database. It is the official source of the Montenegro land registry search. The latest updates on the cadastre system are now simultaneously integrated with the land registry database.

While buying real estate, it is essential to be aware of the property’s official status in the land registry system. The property’s status must be clear, meaning that the title deed must be issued properly.

Sometimes a single residence might be included in a joint title deed that belongs to a complete building, or a project. Or the electricity, internet, and water infrastructure can be joined with other properties in the building, or the project. Even in some cases, there might be a lien over the property called Ipoteka Montenegro.

registering the title deed in MontenegroIn addition, the location information is also an important fact you need to pay attention to while registering the title deed in Montenegro. For example, a land located within the borders of Budva might be mentioned as in Kotor, since it is quite close to the Kotor’s residential area.

But the most important thing to look for is the zoning permit. There are still houses that were already built but waiting for a zoning permit to be granted.

It is often related to second-hand properties which were constructed decades ago. Buyers might not face this issue for newly built real estate since the new projects are being built according to the latest construction law. But how to verify the title deed in Montenegro?

Information like these can only be obtained from the Land Registry Office. Since the official language in the country is Montenegrin, every official document will be in Montenegrin. In this case, buyers might need a registered estate agent and a sworn translator to confirm these details.

At this point, it is highly advisable to cooperate with an experienced real estate company for a smooth buying experience. The team of professionals might confirm all the details of the projects according to the law, making no room for failure.

Steps to Follow for Transferring the Title Deed in Montenegro

After finding your dream home, there are only 3 simple steps left for you to achieve your dreams:

Step 1- Paying the deposit and signing the sales contract

Once all aspects are clarified, then it is time to clear out the negotiations with the seller. Typically, 10% of the purchase price is a reasonable deposit share in Montenegro. Paying the deposit marks the first step of the sales transaction.

Paying the deposit and signing the sales contractPaying the deposit is necessary for reserving the property. By paying the deposit, you will be taking it off the market. Simultaneously, a carefully crafted sales agreement must be overseen by a legal consultant since this agreement binds both parties.

The copies must be signed by all involved parties. It consists of details like identity information of the buyer and the seller, property information, and bank account numbers for transaction processing.

Step 2 - Following the instructions of title deed conveyance at the notary office

Now is the time to finalize the sale. This step involves scheduling an appointment with a notary. It can be done by your real estate agent to save you from the trouble. Both the buyer and seller must be present at the notary appointment. If not possible, the transactions can be conducted by their authorized representatives.

The notary reviews the sales and purchase agreement for validity, ensuring compliance with the law and fulfillment of conditions. Upon confirming the sale's completion, the notary forwards all documents to Montenegro’s land registry office.

Step 3 - Getting your keys and waiting for your title deed to arrive

Congratulations, you are a homeowner in Montenegro! After the sale is confirmed completely by the notary, the buyer holds all the ownership rights. Now is the time to get the keys and wait for the title deed to be issued. It could take a couple of months. Even until the day that the title deed arrives, the buyer is now recognized as the property owner in Montenegro.

In Need for Assistance? Contact Us!

Are you looking for an opportunity to invest in Montenegro real estate? Contact our professionals today to explore the most exclusive properties in Montenegro and finalize the title deed transfer in the blink of an eye.


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