The Notarial Council has entered ‘active talks’ with the government to enhance the protection of contracting parties through the improvement of digital technology and real-time registration systems usage. The Justice Ministry confirmed the information, stating that, to protect clients from the situation whereby notaries entrusted with their funds could default, online payment of property taxes and registration fees have been identified by the council as the solution.
This creates an electronic ecosystem which avoids having to pass money for the purchase of properties through third parties, including notaries. These would no longer hold funds for clients but would still hold responsibility for the transactions concluded before them.
Council president Clinton Bezzina told Times of Malta that the real-time element of this proposed project is lagging due to limited banking infrastructure and investment. The project is important for sellers to ensure that money has been passed on before the contract is signed.
A spokesperson for the Justice Ministry highlighted how notaries have public obligations to the government and other legal/disciplinary obligations for which they are answerable to the Court of Revision of Notarial Acts and under criminal law. The profession’s integrity was supervised by the Notarial Council and they had civil obligations to the parties appearing before them.
The ministry stressed the necessity for a regulatory framework. Despite there being only a handful of abuse cases from around 500 practicing notaries over the years, the ministry was asked if it was looking into the situation and had plans to provide any remedies for such rare instances.
Stating that notaries are independent professionals and public officers in that they fulfil the function of drawing up and keeping public deeds, they are not obliged to act as safe keepers of deposits on account of the price of the property. The ministry however pointed out that notaries must have one or more separate Notarial Deposit Accounts into which all monies deposited with them are to be deposited.
MaltaDaily