Congratulations on your decision to buy property in Spain and we hope you love and enjoy every moment of your purchase and stay in the Spanish coast, however, we are here to help you with some information, which is legal.
Just because you now have the services of a reputed lawyer doesn’t mean the task is done, it is important that you understand the laws and the legal documents to the core, since we are talking huge financial transactions here and you wouldn’t want to juggle around with such a large investment.
Please read on and keep the following terms and clauses in mind when understanding the legal documents in Spain.
The plan parcial is what the Spaniards call as the piece of land and the location where you plan to buy your property. This needs to be registered by the TOWN HALL and this means that you would know if any future urbanization projects would or wouldn’t affect your property at large.
Next you would hear of the Registro del La Propiedad, especially if you are buying real estate near Costa del Sol or anywhere else in Spain. This has to be registered with the registry that registers properties and is the last paper which needs this act. It would include property details, the title owners information, the notary responsible for the escritoire and mortgage details.
Even though the property you intend on buying may have been built to perfection, one needs to check small alterations if any, permissions by the authorities need to be taken for any small or big alteration and this would reflect in the solicitud de licencia de obras which comes at a small fee.
Check for reservation contracts as well, which would have the purchaser private information, the agents private information, property type and the plot of the property, the price of the property in question(Euros only), payment method and the formula that derives it and finally, the signature and date of the buyer and seller.
The nota simple would be another legal term which means simple note. The land registry office gives it out for a small fee and would entail the registration details of the property for you to check and keep an eye on.
The all important contract would be the most needed document when you buy a house in Spain. It entails the house plan, the simple note, the contract, the signatures and the mortgage and financial dealings details.
There would also be a term called community charges on the legal papers, which entails, common facility maintenances and usage charges by all who reside where you have bought the property.
The Certificado Final de La Direccion de Obra or the Certificate of the Termination of the Building is when the document comes from the architect who completes building the house. This would be important for The Licencia de Primera Ocupacion which is responsible for occupation and the tax payments of the house in future.
Finally we hear of insurance for the house which needs no explanation and we all know why it is so important and the ESCRITURA which is the house deed, that has the name of the owner on it.