1.      Purchase of property

Are you a property owner with agreements concerning adjacent parcels? Or are you a customer who has reserved an apartment, garage, shop, service unit, or warehouse? If you need to register an agreement you’ve made with the construction company, consider using the Application service for notarial acts related to property developers and landowners, or third parties.

https://e-albania.al/eAlbaniaServices/UseService.aspx?service_code=9443

* In the "services" section, add the services ASHK_I4 (Issuing a copy of the fragment of the cadastral map) and ASHK_I5 (Issuing a copy of the property card). After paying for the service, together with the original copy of the agreement you are registering, send it by mail to the address of the relevant ASHK;

** Please be aware that when submitting your application, you must specify the total number of units you’re benefiting from. For example, if you’ve reserved 1 apartment and 2 garages, the service amount should be indicated as 3.

2.      If you’ve purchased real estate, received it as a gift, or made a reservation or conditional purchase, consider using the Application service for registering contracts related to sale, exchange, or donation. This will help ensure proper documentation and legal clarity.

https://e-albania.al/eAlbaniaServices/UseService.aspx?service_code=9441

* In the "services" section, add the services ASHK_L1 (Property certificate issuance), ASHK_I4 (Issuing a copy of the cadastral map fragment) and ASHK_I5 (Property card copy issuance). After paying for the service, together with the original copy of the agreement you are registering, send it by mail to the address of the relevant ASHK;

** Please be aware that when submitting your application, you must specify the total number of units you’re benefiting from. For example, if you’ve reserved 1 apartment and 2 garages, the service amount should be indicated as 3.

3 . The transfer of the right of ownership over real estate, land (land or agricultural land) and building, is taxed at 15 percent of the realized capital gain. The individual who transfers the right of ownership over the real estate, pays the tax before the registration of the deed of transfer of the property, in accordance with the legal acts and procedures in force. The transferred real estate is not registered without proving the payment of this obligation at the local real estate registration offices.  For this reason, you may need to consult the link below for the calculation of the obligation:

https://www.tatime.gov.al/d/8/45/0/731/mbi-kalimin-e-se-drejtes-se-pronesise-se-paluajtshme-dhe-taksat-e-tatimet-qe-do-te-llogariten-

4.      Are you a land owner? Or are you looking to buy one? Consult the Map of Values ​​to see what the minimum land value is, according to the legislation in force

https://atp.gov.al/harta-e-vleres/

5.      Are you interested in buying or selling real estate? A store? Garage? Office? Then you need to know the value of your property according to the legislation in force, as well as to calculate the property transfer tax

https://qbz.gov.al/eli/vendim/2023/07/26/457/c8448e67-da26-4810-9dc7-64f0732a19f1

A mortgage loan consists of three elements, without which the loan would not be viable. Each element must receive a value, otherwise the credit cannot be calculated. These elements are:

• Loan amount

• Interest rate

• Term of the loan

The loan amount refers only to the nominal value; in other words, the amount of money you want to be credited (borrowed). The interest rate is the regular cost that the lender charges for the borrowed funds. This is usually expressed as a percentage of the loan amount, and is calculated on an annual basis. This has an inevitable impact on the amount of your monthly installment. In the case when the other two components (Amount and Term of the loan) remain unchanged, the lower the interest rate, the lower your monthly installment will be; the higher the interest rate, the higher the installment will be. The term of the loan means the time it takes to amortize or repay the loan. This can be expressed in months or years.

The main advantages for buying a house through financing with a mortgage loan are as follows:

• By taking out a mortgage loan, the borrower applies one of the basic principles of buying real estate: buying with other people's money. This eliminates the need to use money (cash) or reserves (deposits), which are so valuable in emergencies, or for other investment opportunities. Equally important is the fact that you may not have this money to execute this transaction.

• By buying your own property you will no longer waste money on rental costs. Also, you can use the real estate as collateral for a second loan in the future.

• The mortgage loan can serve to achieve different goals such as: buying a house, buying a shop, building a house, building a summer house, renovating your house, etc.

• The real estate can be used as a second residence or you can rent it out, the income with which you can repay the monthly loan installments.

• Compared to other ways of borrowing, Mortgage Loan is cost effective. Mortgage Loan interest rates tend to be lower compared to other ways of borrowing, because the loan is secured through real estate.

However, taking out a mortgage loan also has disadvantages:

• There is a risk of non-payment on time, as a result of unemployment, illness, or any unforeseeable event, which is not covered by insurance policies.

• You may face a decrease in the value of your home; as a result, the price of your home may turn out to be less than what you owe to the lender.

• The interest rate can fluctuate as long as loans are given with variable interest rates. If the interest rate increases, the monthly loan installment will increase.

• In general, the obligation for the mortgage loan is long-term.

• If you "stretch" your home buying budget, you may not have enough money to pay for restaurants, vacations, or other entertainment.

• The housing market fluctuates. The valuation or depreciation of the property depends on the time when the house was purchased; whether the house was bought during a boom or a difficult period of the housing market. The house may not be worth the same as it was at the time of purchase, leaving the owner with no profit when he plans to sell the house.

CRITERIA

To qualify for a loan you must fit these criteria:

• You are a resident of Albania

• Receive the salary in an institution within Albania

DOCUMENTS NEEDED TO GET A LOAN

The required documents may vary from one Bank to another, but in general

the following documents are required:

• Recent identification document

• Family certificate

• Documents to prove your income

• For individuals: proof of salary

• For self-employed professionals and legal entities: Legal documents of their activity, the company (extract of the CCA) and financial balances

• Certification from the Court, Prosecutor's Office

• Real estate documents that you will provide as a guarantee: "Certificate

ownership" or "Proof of ownership"

• Document of the object of the loan if it differs from the real estate, you want

to offer as a guarantee.

Most mortgage loans are set up based on a 20-year repayment plan, but

can range from 10 to 30 years. Once you determine the appropriate repayment term, determine the amount you can afford to pay each month. The shorter the maturity period, the higher the monthly installment will be, but in absolute value you will pay less interest during the repayment of the loan.

Interest is basically the price you pay the lending institution for the usage

of their money. Of course, the lower the interest rate (when the amount and term

of the loan remained unchanged) the lower the monthly installments will be. LENDER

compete fiercely in the market, so look for the lowest interest rates that

you can benefit. Be careful in distinguishing the difference between the nominal and the real rate

real interest. The nominal rate as often communicated in TV spots does not include additional costs on the loan (commissions, fees, insurance premiums, etc.), while the real rate includes all these additional costs. The real rate allows loan applicants to compare different offers on the market.

CREDIT INSURANCE

Risk is the event that can lead to unexpected losses. Some of the main risks that you may face include the risk of damage to the property purchased with the mortgage loan and the risk of default as a result of loss of life. In order to reduce uncertainty, banks cooperate with insurance companies, which insure you against life's unpleasant surprises. Look for the best offers from different insurers, you don't have to look for a particular insurer as banks have signed contractual agreements with certified insurance companies that offer insurance packages for lending purposes. Don't just search for the best offer (price) but also for the best insurance company. The price is important but not the main thing, while the good faith and ability of the insurer to repay the risks covered are much more important.

Property insurance is mandatory under the mortgage loan contract. If the property you bought with borrowed funds is damaged or destroyed, you will lose the collateral. In other words, the property insurance policy ensures that even if the property turns into ashes, in any case the remaining loan amount will be covered by an insurance company.

Mortgage loan protection life insurance is simply insurance that pays off the mortgage loan in the event of death if the mortgage loan is not paid in full. The original type of mortgage loan insurance is followed by the balance of the mortgage loan, when your mortgage loan obligation decreases, the amount for which you will take out life insurance also decreases.

1.      Have you signed a lease or sublease contract and want to register it? Then you need to apply the Application service for the registration of the lease or sublease contract:

https://e-albania.al/eAlbaniaServices/UseService.aspx?service_code=9458

CIVIL CODE OF THE REPUBLIC OF ALBANIA

LEASE

GENERAL PROVISIONS

Article 801

Lease is a contract by which one party (the lessor) is obliged to give the other party (the lessee) a certain thing, temporary possession against a certain reward. Article 802

The lessor must: 1. deliver the thing to the lessee at the appointed time and in a condition that allows the use for which the parties have agreed; 2. to take care to keep the item in the same condition; 3. to guarantee quiet enjoyment during the rental period.

Article 803

The lease cannot be concluded for a period longer than thirty years, unless otherwise provided by law. If it is concluded for a longer period of time or without a deadline, it is valid only for the upper term. For buildings used for housing, the lease contract cannot be concluded for a period longer than five years. For movable items given for furnishing an immovable item, the term is equal to the duration of the latter's lease. The rental contract, for a period longer than one year, must be made in writing.

Article 804

The lessee, who has properly executed the obligations arising from the contract, has the right to be preferred over other persons in the event that, at the end of the lease period, a new contract will be concluded.

Rights and obligations of the lessor

Article 805

The lessor must carry out, during the period of the lease, all repairs, with the exception of daily maintenance works which are the responsibility of the lessee. For movable items, the expenses for storage and for ordinary maintenance are charged to the lessee, unless the agreement stipulates otherwise. When the leased item needs repairs, which are not the responsibility of the lessee, he is obliged to notify the lessor. In case of urgent repairs, the tenant can carry out them directly, against the reimbursement of expenses, with the conditions to notify the tenant immediately.

Article 806

If, at the time of delivery, the leased object is affected by defects that significantly reduce the value of the contracted use, the lessee may request the termination of the contract, or the reduction of the rental price, unless he was aware for the defect or it is easily recognizable. The lessor is obliged to pay the lessee the damages resulting from the defects of the item, if he does not prove that, without fault, he was not aware of these defects at the time of delivery. If the vices of the item pose a great risk to the health of the lessee or his family or dependents, the lessee may request termination of the contract even if the vices were known to him.

Article 807

The agreement, which excludes or limits the liability of the lessor for the vices of the thing, has no effect if the lessor has hidden them from the lessee in bad faith, or when the vices are such as to prevent the enjoyment of the thing.

Article 808

The provisions of the above articles are also applicable in cases of property damage that occurred during the rental.

Article 809

If during the lease the leased item needs urgent repairs, the lessee must allow them to be carried out. If the item is not repaired within a reasonable time, the tenant is entitled to a proportional reduction of the rent.

Article 810

The lessor is obliged to insure the lessee against disturbances that reduce the value of use and enjoyment of the object, caused by third parties who claim to have rights over the same object. The lessor is not obliged to insure the lessee against the concerns of third parties who do not claim to have rights over the thing. In this case, the tenant retains the right to file a lawsuit against third parties on his behalf.

Article 811

If the third parties who create disturbances claim that they have rights over the leased item, the tenant is obliged to notify the landlord immediately, otherwise he is charged with the compensation of the damage. If the third parties act in court, the lessor is obliged to participate in the process, if called.

Rights and obligations of the lessee

Article 812

The lessee must: 1. take delivery of the item and use it for the purpose provided for in the contract and, when not provided for, according to the purpose arising from the nature of the item; 2. to make the payment in the specified terms.

Article 813

The lessee is responsible for the loss and damage of the item that occur during the rental contract.

Article 814

The lessee must return the item to the lessor in the same condition that he received it, in accordance with the description made by the parties in the contract, except for damage or normal wear and tear from the use of the item in accordance with the contract. In the absence of a description in the contract, it is assumed that the lessee has received the item in good condition of use. The lessee is not responsible for loss or damage caused as a result of age. Movables must be returned to the place where they were delivered.

Article 815

The lessee who is in delay to return the item, is obliged to give the lessor the specified payment until delivery, in addition to the obligation to compensate the corresponding damage.

Article 816

Except as otherwise provided by law, the lessee is not entitled to compensation for improvements made to the leased property. But if the lessor has consented, he is obliged to pay a compensation corresponding to the smaller amount between the amount of expenses and the value of the useful result at the time of delivery. Where the tenant is not entitled to compensation, the value of the improvements may compensate for damages caused by the tenant's gross negligence.

Article 817

The lessee who has made additions to the rented item has the right to remove them at the end of

rent, when this can be done without damaging the item, except when the owner agrees to keep the extras himself. IN

in this case, he must pay the tenant a compensation equal to the smaller amount between the costs and the value of the additions at the time of redelivery.

If the additions cannot be separated without damaging the item and constitute an improvement thereof,

the rules provided by article 810 apply.

Article 818

The lessee, except for the contrary agreement, has the right to sublease the thing he has rented, but he cannot transfer the contract to another without the consent of the lessor.

For movable items, subletting is done with the consent of the lessor.

Article 819

The lessor, without prejudice to his rights against the lessee, may file a counterclaim

the sub-tenant to claim the price of the sub-rent for which the latter is still a debtor in

the moment of filing the lawsuit and to compel him to fulfill all other obligations arising from the sublease contract. Annulment of the lease contract or its termination has an effect on the sub-lessee, and the decision made between the lessor and the lessee has an effect on him as well.

Termination of the lease contract

Article 820

The lease with a term determined by the parties ends with the end of the term, without the need to announce its end. The lease in which no term is set does not terminate, if before the term established according to the article

803 of this Code, one of the parties notifies the other party that it renounces the lease.

Repetition of the lease contract

Article 821

The lease is renewed if, after its term has expired, the leased item is allowed to be used by the lessee without the lessor's objection.

The new lease is governed by the same conditions as the previous one, but its duration is set as per

fixed-term leases.

Relations with third parties

Article 822

The rental contract can be used against the third party who acquired the leased item, provided that the contract has an exact date before the item is alienated.

The provisions of the above paragraph do not apply to the rental of movable items

unregistered in public registers, if the winner has secured possession in good faith.

The rent of unregistered immovable property is not against the third beneficiary, except internally

period of 9 years from the beginning of the lease.

The winner must respect the lease in any case if he has assumed the obligation to the alienator.

Article 823

If the lease does not have an exact date, but its retention by the lessee as a date is before the transfer of ownership, the winner is not obliged to respect the lease, except for the duration that coincides with that established for indefinite term leases.

Article 824

If the lessee is evicted from the winner, because the lease contract did not have an exact date before the transfer of ownership, the lessor is obliged to compensate the damage.

Article 825

The winner is obliged to respect the rental contract from the day of winning for the rights and obligations derived from the rental contract.

Property insurance and real estate insurance is an insurance that almost everyone should carry. None of us is safe in terms of property insurance and real estate insurance because we cannot predict and protect ourselves from natural disasters, theft, fires, etc. and all of us are at risk in this regard.

·         Main types of property insurance contracts

- Fire and additional risk insurance insures property against sudden, unforeseen and accidental loss, damage or destruction as a result of fire, earthquake, flood, lightning, storm, etc.

- Theft insurance guarantees compensation for stolen items listed in the insurance contract.

- The insurance of agricultural crops provides all types of crops against hail and natural hazards such as: storm, flood, frost or tornado.

- Livestock insurance is an insurance contract, through which livestock is insured against diseases and accidents.

- Business interruption insurance covers expenses as a result of interruption of business activity due to fire or additional risks, guaranteeing net profit as well as fixed costs.

·         How to evaluate the adequacy of the contract offered?

To conclude an insurance contract, you must contact an insurance intermediary (agent or broker) or an employee of the insurance company. In this case, you should:

- Ask to be explained the main characteristics of the contract for the products offered by the insurance company;

- Provide information on your insurance needs;

- To present your financial situation;

- Provide information on the amount of risk you are willing to take and the goals you want to achieve.

This will allow, together with the insurance broker, to identify the needs of the individual who wants to be insured in order to ask the insurance company for the product that best suits these needs.

The insurance company and insurance brokers are obliged to provide any interested individual before signing the property insurance contract, all the necessary information regarding the type of insurance. This information is also available on the company's official website and should be:

- full

- accurate

- clear

- easily accessible

Consult the online pages of insurance companies that offer property insurance or ask a company employee or broker to get the information you need. Also, the insurance company receives information from you by filling out the form to determine the level of risk and the insurance premium.

• When is the property insurance contract considered concluded?

The property insurance contract is considered concluded and produces its effects, when:

- The insurance policy was signed by both parties, and

- The premium or its first installment has been paid, according to the stipulations in the contract.

Take care to get an original copy of the policy and verify that the document does not contain corrections. An insurance policy is the document that proves you have valid property insurance.

• Premium and insurance amount

The insurance amount is defined in the insurance contract and represents the maximum amount of compensation in case of the occurrence of the insured event. It is suggested that the property be insured at the full replacement value of the facility, including the costs necessary to return the property to its previous condition. If the insured amount significantly exceeds the insured value then both the insurer and the insured may request a reduction of the insured amount and the premium paid will be reduced respectively. If before the occurrence of the insurance event, the insured amount is less than the insurance value, then the compensation will be multiplied by the underinsurance coefficient, which is defined as the ratio of the insured amount to the insurance value.

Premium payment can be made in several forms, depending on the insurance contract:

- In installments;

- For the entire period.

Premium payment can be made through the banking system and/or cash. Proof of payment of the premium can be the bank payment document or the collection mandate issued by the insurance company with the description of the payment made.

·         Request for compensation

The insured reports the damage and requests compensation for the losses or damage to the property that he has insured within the legal term defined in the contract. The procedure for compensation is done according to the form published on the official website of the insurance company and is accompanied by at least the following documents:

- Request for compensation completed with details of the incident;

- Confirmation and/or decision of competent state bodies on the cause and/or causes of property damage;

- The original insurance policy for the damaged property, accompanied by the contract and the insurance acceptance questionnaire;

- Identity card of the applicant for compensation;

- Authorization of representation by the legal owner, when the applicant is someone else;

- Photos/videos of the damaged property as a whole and any element claimed for compensation in particular at the scene;

- Certificate of ownership of the damaged object;

- Sketch, project, general plan of the property, the damaged object, technical booklet of the damaged equipment;

- Detailed list of equipment or objects damaged in this event;

- Statements from witnesses at the scene;

- Damage assessment act by a licensed assessor;

- Summary report on the incident and damage assessment.