TEMP25+ scheme launched with the aim of providing fair solutions so that more families become full owners of their homes The Minister for Culture, Lands and Local Government Owen Bonnici has launched a new scheme by the Lands Authority called TEMP25+ which aims to provide more fair solutions to those families who are or will be owners of residences on which there is a burden of temporary rent payable to the same Lands Authority.
The scheme focuses entirely on the residential aspect and excludes the commercial aspect. This scheme, which is divided into three categories, continues to build on schemes that were issued in the past to enable families to redeem the temporary lease payable to the Lands Authority that encumbers the residential properties they own, or will own, in a more expeditious manner, with the aim of providing greater certainty and peace of mind to those who to date either have no remedy or want a fairer remedy than that provided today.
Minister for Culture, Lands and Local Government Owen Bonnici described this new scheme as another concrete step to continue to provide greater certainty and peace of mind to families who own or will own residential properties subject to a temporary lease in favour of the Lands Authority, particularly to those who were waiting for a solution.
“This scheme will be a great boon because it promises faster processes, fairer, more certain and reasonable redemption prices and expanded options for a whole range of applicants with various and different permutations. This scheme shows how close the Government is to Maltese and Gozitan families and is always ready to take the necessary decisions so that no one is left behind due to legal issues related to the institute of temporary leasehold,” said Minister Bonnici.
The Chief Executive of the Land Authority, Robert Vella, also reiterated that this scheme will replace the 2019 scheme immediately upon the publication of the legal notice. The Land Authority will be accepting requests for all pending applications received under the 2019 scheme to be converted to the TEMP25+ scheme, provided that the applicants so wish. Mr Vella added that this scheme has been designed to be more advantageous for those wishing to redeem this type of leasehold.
The scheme, which is being implemented by virtue of a Legal Notice published today, provides solutions to three categories of residential properties. While the first category provides easier processes for those wishing to redeem a temporary leasehold payable to the Lands Authority, the second category extends to the redemption of a temporary leasehold payable to the Lands Authority of a residential property that is not an ordinary residence, or is a holiday residence, or a vacant residence or a residential property that has been developed into a number of units.
The third scheme, then, provides solutions for the redemption of the leasehold of prospective residential units that will be built on land subject to a temporary leasehold payable to the Land Authority, also for the benefit of prospective purchasers of these residential units who today, given the current scenario, face various difficulties in redeeming their share of the leasehold.
The scheme envisages that in the event of a subsequent sale of the same property thus redeemed within 15 years of redemption, the applicant will have to pay an additional payment of 3 percent of the price at which each property was sold. In cases, however, of property transfers between members of the same family, individuals aged 65 and over, transfers in favour of persons with disability and transfers in favour of first-time buyers, these will be exempted from paying an additional 3% on the final sale price.
Through the TEMP25+ scheme, an excellent opportunity is being given to more families who own or will own non-commercial property that is subject to a temporary lease in favour of the Lands Authority to become full owners of their homes or property. This scheme is fair, less bureaucratic and more transparent and will provide solutions while giving peace of mind and certainty.
The scheme will be accessible on the website https://landsauthority.org.mt/
