The notary in Monaco
The notary is a public and ministerial officer responsible for the development, authentication, registration and conservation of legal acts having the force of law. The legislation of the Principality of Monaco authorizes him to be replaced in his functions and consulting services by an assistant or a clerk of his office.
First thing, it intervenes in several capacities to secure the legal acts between its private or professional clients, companies, etc. From a legal point of view, his role (or that of his assistant or the clerk who represents him) is essential to certify the veracity of the acts and guarantee the value of the transactions carried out. Using a ministerial officer posted in Monaco remains an obligation under Monegasque law to legalize official documents between individuals or related to companies.
Secondly, its function is to verify the identity and capacity of the various signatories. He must also ensure that the property put up for sale belongs to the seller, whether or not he is a Monegasque resident. Finally, he ensures that illegal clauses are not adopted and advises on the drafting of the deed. Once these formalities have been completed, the deed passed in the notarial office becomes authentic, which gives it indisputable legal value and serves as proof.
Thirdly, this ministerial officer is also responsible for the conservation in his office of the originals of the acts passed before him. These original documents called minutes represent the original version of a notarial deed. Minutes of notarial deeds must be kept by a notarial office.
Why is the intervention of a notary essential when buying a property in Monaco?
The Monegasque government has mandated the notaries of the principality to draft the deeds of sale and authenticate the formalities related to real estate transactions. These documents are written in French. For the signature to become legally legal, it must be authenticated before a notary.
The Principality currently has three notaries with whom we are used to working:
Notary in Monaco Me Henry Rey
2, rue Colonel Bellando de Castro
Phone : +377 93 30 41 50
E-mail : email@example.com
Notary in Monaco Me Magali Crovetto-Aquilina
31, boulevard Charles III
Phone : +377 93 50 54 13
E-mail : firstname.lastname@example.org
Notary in Monaco Me Nathalie Auréglia-Caruso
4, boulevard des Moulins
Phone : +377 93 10 60 60
E-mail : email@example.com
In Monaco, in the event of a sale, it is the purchaser of the property who chooses the notary. The seller can choose to be accompanied by his own notary if he is different from the one chosen by the buyer.
According to Monegasque law, it is the responsibility of notaries to ensure the identity of the seller and his status as owner of the property offered for sale. Through this service, he must also check that no obstacle risks preventing the future transaction. Monegasque notaries are there to guarantee the validity of the transaction indisputably. The fact of not justifying a permanent contract and of being in the interim or political employee does not generate any obstacle to a real estate purchase offer.
He must also send information on the identity of the buyer and the seller to SICCFIN. SICCFIN (Service d'Information et de Contrôle sur les Circuits Financiers), is in particular in charge of the fight against money laundering, the financing of terrorism and corruption. Once the deeds have been established and the sale is about to be concluded, a final meeting in one of the three studies will allow the two parties accompanied by their real estate agents to sign the transaction definitively and proceed with its registration. official.
When the two parties have agreed on the purchase price of a property (apartment, villa, penthouse, hotel, goodwill, etc.), the purchaser is required to pay a 10% deposit to the notarial study. This payment takes place either during the validation of acceptance of the purchaser's written offer or at the time of the signing of the sales agreement. This deposit made with a check from a bank in the Principality of Monaco or by bank transfer serves to certify the serious nature of the offers, both on the seller's and buyer's side.
What role does the notary play when buying or selling property in Monaco?
A true legal adviser, your notary in Monaco acts on behalf of the Monegasque government. As part of his official duties, he ensures the legalization of signatures and the certification of deeds, thus confirming the agreement between the parties with enforceable force. This act has the same value as a judgment. It fixes ownership on a specific date and protects your interests.
In addition, these professionals working in the Principality have all the skills to provide you with legal or tax advice and guide you in your search, even if you are on a temporary basis or awaiting recruitment.
Our real estate agency in the Principality
Take advantage of the exceptional real estate heritage offered by the Monegasque territory, whatever the sector. With an international and local reputation from up to the Alpes Côtes d'Azur region, the real estate agency Petrini Real Estate Monaco is a specialist in real estate transactions and management. We are at your side during your purchase and sale transactions of your real estate (apartment, villa, penthouse, hotel, business, etc...). In addition, we are in regular contact with the three notaries posted in Monaco who will legalize all our transactions. Thus, you will have the choice to work with Master Rey, Master Aureglia-Caruso and Master Crovetto.
You have a permanent job and want become a resident on the Rock ? Are you looking for a property and want to know the offers for the purchase of an apartment, the price of a property, a business or even a hotel? Do you have a property for sale in our area? Would you like to entrust the management of your property in the Principality? Are you or would you like to become a Monegasque resident? Individual or company director? Are you a political, temporary, employment, CDI, real estate employee? Whatever your personal situation, do not hesitate to call on our services to buy a property on the Rock.
We have individual or corporate clients from Nice, the Alpes Côtes d'Azur, Italy, Belgium, Great Britain and all over the world... We guide you and inform them in all their steps. Do not hesitate to contact us