All EOS blogs All Spain blogs  Start your own blog Start your own blog 

El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 239. Buying a resale property. Part I
Monday, March 8, 2010 @ 8:55 AM

We wrote the original version of this article a long time ago ( someone even copied it entirely and published it under his name in a paper magazine in Costa Blanca... what a face!). I need to admitt it was not that good then! :)

We have made some addendums now and are offering to you a new, updated, more complete version of it. As sales seem to be slowly happening again, thought it would be interesting writing..... and reading :): 

Some aspects of the private sales contract to be carefully checked out:

1) If you don’t master Spanish sufficiently, ask the owner to provide translation of the contract or look for a translator yourself and pay these services 50-50. Need to add that the most advisable tip is to have a bilingual lawyer in charge of your purchase of course.

2) Date and place of contract.

3) Check who is signing on behalf of the selling party: It is imperative to obtain a Land Registry “Nota Simple”  of the property to check the current owners and any speciality involved in the ownership. There is an English version of this service at: www.registradores.org).

  • If the transaction is between two individual parties, the document must be signed by all the registry owners, themselves or through sufficient proxies.
  • If a house is part of the marital community, the document must be signed by both husband and wife. The character of the good ( either if commun or privative) is mentioned in the Nota Simple.
  • If the seller gives power of attorney to another person to sign the private contract, the authorised person will have to present the authorised notary copy, it means. The power of attorney must grant enough power for the sale, so it is very important to check, by reading the power of attorney deed, that the authorised person can sign the sale (these mentions are among the faculties stated in the deed).
  • If the seller are the heirs of the Land Registry owner, it is necessary to check on the probate documents together with the sales one themselves.  They will have to adjudicate the Inheritance before you signing the final Notary deed for the transmission of ownership. 

In al the cases where the sellers are not the registral holders of full ownership on the property, it is advisable either to

(a) Wait for the Land Registry changes to be produced and have contract sellers  coinciding with  Registry owners

or

(b) Place a cancellation condition clause by which if the contract sellers can not finally register their rights, the purchase will be cancelled with devolution of principal plus legal interests.

If you can wait, I would better advise you to to do as (a)

4) If the hosue was rebuilt or renewed make sure this was done with the required Work License from the Town Hall and that the “ Decalaracion de Obra Nueva” has been made before a Notary and duly registered in the Land Registry. Again, ask for a Nota Simple to do so.  Catastro´s descriptive and graphic note is also needed here to see how the Land Registry description of the house is equivalent to Catastro´s and to reality. If Catasro or reality and Land Registry do not match, there are some Registry procedures needed and it would be advisable to have them paid by the seller.

5) If you are buying a country house, check on water, phone and electricity providers. If a well is part of the contract, be sure that it has been legalised. If there is a river passing by, be sure that you have irrigation rights properly registered in the corresponding Confederacion hidrografica.

( to be continued, probably tomorrow)

By Maria L. de Castro

www.costaluzlawyers.es

Chiclana ( Cadiz) By Sidi Guariach at Flickr.com



Like 0




5 Comments


Moraira Property said:
Monday, March 8, 2010 @ 4:05 PM

A very good summary of the Spanish Legal process. Helpful to Brits and Spanish purchasers too!


Maria said:
Monday, March 8, 2010 @ 4:10 PM

Thanks Moraira, you are so sweet. Next chapter to be followed tomorrow.

Best regards,

Maria L. de Castro


Surveyor said:
Wednesday, March 17, 2010 @ 11:30 AM

Good work Maria and very helpful to all I am sure. In the future Parts of the advice, remember to recommend an independent building survey of the property and/or a valuation. That way the buyer can be sure that they know of all the property defects that they are taking on with the property and can adjust the selling price appropriately. Also, the surveyor is often the only professional person who visits the property and compares the actual building with the Nota Simple/Title Deed and Catastral/Tax descriptions. Very often there are significant differences, possibly indicating that alterations have been made without permission. RICS Chartered Surveyors are available in all the Costas of mainland Spain and the island through the Survey Spain Network.


como to qieres said:
Saturday, March 20, 2010 @ 1:35 AM

As many of these properties are often repossessed by banks and offered as resale properties and also the banks have subsequently sold them to companies with a subsidiary co. "Debt Collectors" who initially acquired them from the banks as a "Debt" -like the notorious Company "ATALAS" has (that they actually sold to the previous owners). Maria please can you kindly throw some light on the legal aspects of buying such properties?

"As the new victims are now from the Eastern European Countries Who can afford the lower prices but are also offered mortgages by some of the same Banks.


Surveyor said:
Saturday, March 20, 2010 @ 8:36 PM

Repossession - That could be worth a little research!!


Only registered users can comment on this blog post. Please Sign In or Register now.




 

This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x