Spanish conveyancing, the purchase of a property in Spain
The first thing you have to know about Spanish Conveyancing is that the procedure for buying or selling a property in Spain is quite different from other countries. For this reason it is important to rely on an independent Spanish Lawyer who will represent your interests at the transaction.
In Spain some aspects as drawing up the deed and witnessing the signatures have to be compulsory performed by a Public Notary. Your lawyer should provide Conveyancing Service that not only protects you in the purchase but also optimizes your fiscal situation as a result of the purchase. Your lawyers will have to carry out the following aspects of your purchase:
Before signing the contract.
– Draft or review a pre-agreement
– Obtaining the registration number of the property at “Catastro”: this number concerns the physical description of a property, determining the exact location and description of the property, not its ownership
– Negotiation of the terms of the contract. You may be willing to accept all the seller´s terms but in other cases, it might be necessary to prepare a counter offer. Even, sometimes the contracts are skewed in favor of the developer. We will establish a schedule for the payment of any outstanding debts connected with the property
– Verifying that the property actually belongs to the seller or that the seller has a legal authority to sell it, and if the property is free of debt before the Property Register
– Complete the legal searches that you need before proceeding to the completion: obtention of certificate from the Property Registry (“Nota Simple”) where you can find information such as the owner of the property and encumbrances on the land and mortgages are registered
Completion
A property purchase reaches formal completion when the Sales Contract is signed by both parties in the presence of a Public Notary. A Notary is the person that certifies that the contract is legal by checking all the formalities involved in the transaction.
If it is not possible for you to be present at this final appointment with the Public Notary there is an alternative method which allows lawyers to sign on the client behalf:
• Granting a Power of Attorney. This formally allows another person (either a lawyer or somebody else that you trust) to sign on your behalf. You can have this document prepared while you are in Spain by making an appointment with the Public Notary who will oversee all the formalities. Alternatively, a power of attorney could be prepared by a Public Notary in your home country or even in the Embassy. This power of attorney will have to be legalized for use in Spain by having an Apostille certificate attached to it under the terms of the Hague Convention.
Registration of the Deeds
Once the Sales Contract has been signed, the Public Notary will contact to the Property Registry to begin the formal procedure for registration of the new title deeds. Although this process is not compulsory it is strongly recommended.
The whole process usually takes between one or three months, depending on the workload in each particular Property Registry. In the interim, you can request a copy of the records from the Public Notary.
When registration has been completed, the Property Registry will get in touch with your lawyers to inform them when the title deed is ready for collection.
Taxes and Fees
Finally, as well as overseeing the registration of your title deeds, your lawyer can arrange for the payment of the fees and taxes due in respect of your purchase: (legal and notary fees, fees of the property registry and taxes as: “property transfer tax” or “municipal tax on property sales”).
Conveyancing in Spain is not complicated, you just have to take expert legal advice.
Celia Martínez Ibáñez
Ibáñez-Aragón, Spanish Lawyers in Murcia, Spain
Eurojuris España, International associationof Spanish lawyers
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