Buying property in Spain can be a daunting process with different tax laws and language problems. During the years, Valerie Anciaux has worked in most of the offices involved, has gained experience and knowledge and can now offer advice, translation and help in all these transactions at no extra cost.
N.I.ETaxes et Frais
LEGAL PROCEDURE FOR BUYING AND SELLING
The official Title Deed (Escritura de Compraventa) is prepared by a state official called a Notary. This deed is signed by both the seller and the buyer in the presence of the Notary. All Title Deeds in Spain must be registered at the Land Registry Office, and the Zoning office at the Town Hall of the commune in which the property is situated.
The Notary
A Notary is a lawyer who has had special training and passed extra examinations to qualify him for his special duties as a legal representative of the Spanish state. The intervention of a Notary in different legal acts signed in his presence, is a guaranty of legal security for all the parties involved in the transaction. Apart from dealing with property transactions, the Notary verifies that Spanish wills are properly signed, witnessed and registered, authenticates important documents, prepares "Power of Attorney" documents, mortgages and the Statutes of Spanish companies.
The Notary is responsible for seeing that the deed is drawn up correctly, fully describes the property, that the agreed declared purchase price has been paid to the vendor in the appropriate currency, that no debts are attached to the property, and that the buyer understands the administrative requirements incumbent on the deed. He also witnesses the signing of the deed.
If the buyer has agreed to buy when on holiday and does not wish to return for the signing of the deed, he can appoint a third party as his agent to appear before the Notary and sign on his behalf. This person must be officially appointed by a deed called a “Special Power of Attorney” or in Spain, an “Escritura de Poder de Compraventa”. This deed can be prepared by the Notary in the name of the chosen agent with the precise conditions of the sale, the description of the property and the price. This power of attorney automatically becomes null after the signing of the Title Deed.
The Land Registry Office
The Land Registry Office is an administrative office, dependant on the Ministry of Justice, and keeps up to date all the records pertaining to property transactions, according to the Property laws.
Within a maximum of 30 days after signing the Deed, the Notarised Original Title Deed is sent to the Land Registry Office, where the name of the new legal owner will be entered into the database and the taxes inherent to the type of transaction (buying off plan or resale property) will be paid.
Town Hall and Zoning
The final registration of the Title Deed with the Land Registry Office can take some time. To allow you to be able to change the name at the Town Hall and the Zoning office and to change the utilities and home owners contracts within the legal time allotted, several authorised copies of the Deed will be given to you by the Notary.