Amendments to the Civil Code intended to facilitate the sale of co-owned property, have come into force on Friday 1st April.
Further to these amendments, it is now possible to apply to the Courts in Malta and sell inherited vacant property after three years from the date of inheritance, subject to more than 51% of the heirs being in agreement. This three year amendment replaces the prior five or ten year time frame.
The Budget 2016 measure was proposed in a bid to release some of an estimated 41,232 properties which remain vacant on the island, many due to unresolved disputes among heirs resulting in a large quantity of properties across the island remaining derelict.
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