Lithuania — Property: Buying Process

Why this matters

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Key facts

• A notary prepares and attests the property transfer agreement (using an electronic signature) and then submits the request to register the rights in the Real Property Register.
• The notary is a one-stop shop: buyer and seller visit only the notary, who checks the registers of the Centre of Registers before signing the transfer.
• The notary prepares the sale-purchase agreement from Real Property Register data and submits the registration request electronically.
• A property transfer is registered in about 2.5 days on average; the statutory limit is 10 business days, or 1 working day for an urgent request.
• A mortgage is registered in under 1 day on average, no later than the next working day after the notary sends the approved transaction data.
• On request a registration certificate or register excerpt is issued. The ELRA page gives no fee amounts, so confirm notary and registration fees with a notary.

Steps

1. Identify and Inspect Property — Research potential properties, view them, and have a professional inspection if needed.
2. Negotiate and Sign Purchase Agreement — Finalize the purchase terms, agree on the price, and sign the purchase agreement with a Notary Public.
3. Pay and Transfer Funds — Arrange for the payment of the agreed purchase price and transfer the funds.
4. Register Property — Submit the necessary documents to the Land and Real Estate Registry to register the new property owner.