Morocco is a modern western looking country with an established property market and strict rules and procedures for buying and selling property.
Morocco was a French Protectorate for many years and has consequently a very well establishes legal system and property ownership framework based upon the Napoleonic Legal System and is similar to the processes in Spain and France.
In principle, the rules and procedures are not too dissimilar to those in the UK, and like the UK, professional advice should be sought from the outset of any potential purchase.
In Morocco, land, houses, villas and apartments are all acquired freehold. Leaseholds are not used for residential property.
All new properties sold by Elite Morocco Properties. have title deeds (melkia) that are registered in the Land Registry. This shows who owns the land and whether there are any encumbrances on the title such as mortgages, rights of way etc.
The First Step
When you have identified a property that you wish to purchase, the first step will be to place a small deposit that will take the property off the market until the Private Contract is signed. This deposit may or may not be refundable.
Private Contract - Promise to Purchase
The Private Contract or Promise to Purchase is usually prepared and signed within four weeks of placing the deposit. This contract sets out the terms and conditions of purchase. It binds you to the purchase. If you cannot be in Morocco to sign this document you can give your lawyer Power of Attorney to sign on your behalf.
Upon completion of the property and issue of all licences, the Sale and Conveyance Deed, is signed by both parties, in the presence of a Notary, and payment made of all outstanding monies. As with the Private Contract you can give your lawyer Power of Attorney to sign on your behalf.
Elite Morocco Properties has several independent English-speaking Moroccan lawyers that we can recommend to help you through the process.