The Escritura or final contract in Spain
The Escritura in Spain
The property deed in Spain is extremely important during the house purchase process. It contains all information about the property, including who owns what percentage of it. Property deeds also provide contact details for the community of owners or administrators. The legal process of updating a property's deeds after buying a property is straightforward. The buyer and seller will always need to go through a notary who updates the property deed changes.
When registering a sale of property in Spain, you must perform an escritura with your notario. The document is divided into two parts: the first part documents the acquisition of the Escritura, and the second part, known as 'the protocolo', includes the details of the property.
The Escritura and the Catastro
The Spanish property deed or Escritura is a legal document that provides the public with information regarding the property owner, the size of the land and details about the surrounding area.
On the other hand, the Spanish Cadastre or Catastro is a comprehensive register of all properties within Spanish borders.
Other profound information contained in the document, including boundaries, the position of the property, class of the land, property size and the name(s) of the property owner, can be found on the Spanish Cadastre.
How important are property deeds in Spain?
The purchase of a property in Spain should be approached with great care. Not only are there all manner of fees to consider, but if the transfer of your newly-bought home is not carried out correctly, you could risk losing your investment!
The process itself can become complex, so make sure that you have an expert by your side who knows the ropes. A lawyer can carry out all of the necessary tasks which ensure a smooth purchase.
Above all else, having official documentation is vital if you wish to have complete peace of mind. To ensure that your property is in fact, officially yours, a correctly executed Escritura is the only way forward. An Escritura is equivalent to a Title Deed in English Law. This means that once the all-important legal document has been executed, it is as if the transaction has been carried out in person.
The importance of this to many would-be buyers lies in the fact that it can be difficult to reverse a legal process once you have signed your name on the dotted line, so to speak. An Escritura is therefore vital for those who wish to protect their assets and interests.
Property deeds transfer in Spain.
The property deed transfer process is very straightforward and can be completed in a few days if no problems arise. However, the process can be delayed for different reasons such as:
- Regulations not being met.
- Permit(s) required for construction not being issued.
- Licences necessary for the use of land/property not provided or issued.
- Charges, taxes, etc., are not paid.
Before a Spanish Notary, the process of transferring and signing of the property deed is done. After that, the owner gets the property rights and can manage it as their own. We highly recommend consulting qualified professionals to guide you through the entire process and ensure proper due diligence.
Updating Spanish property deeds
You might not be aware of the rules surrounding Spanish property deeds. Such information is important to make sure you can enforce your rights when required. An update of property deeds may seem like a simple task, but it's actually quite complicated. Here are some considerations for updating your land registry title deed. Some of the updates you should provide in property deeds include:
- Adding a swimming pool
- Property extension
- Applying for further planning permission
- Registering a well or borehole
- Additional accommodation, e.g. bedroom, dining room or bathroom
- Storage room
Having up-to-date, accurate property deeds with the correct land registry title number helps avoid misunderstandings and costly delays when buying or selling. If you are buying or selling a property in Spain, it is important that you consider professional advice to help ensure your Spanish property deeds are up to date.
In Spain, a Notary is legally required for updating Spanish land registry title deeds and should be included in your conveyancing fees. Some lawyers will include this service while others charge separately. The fee charged by a Notary to update property deeds varies depending on location but, If you are selling a Spanish property and require an update of your Spanish land registry title deeds, your conveyancing fee should include this service.