Where are the deeds?

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30 Jan 2008 00:00 by nfm2862 Star rating in Welling, Kent & Al A.... 1526 posts Send private message

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Can anyone please advise me what happens to the deeds following completion of your purchase?

Our solicitor completed on our behalf under a Power of Attorney & it has just occurred to me that I should perhaps be asking this question.

We have amortgage with a Spanish Bank so would they keep the deeds for the term of the mortgage or do they go to some central land registry type place or should I have them??

Any advice gratefully received.

Noreen




This message was last edited by nfm2862 on 1/30/2008.

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30 Jan 2008 21:04 by morerosado Star rating in Guardamar del Segura.... 7681 posts Send private message

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Hmm, Noreen. In the UK the deeds stay with the mortgage bank but in Spain, who knows ? I'd have thought it was the same as the bank actually owns the property until paid 100% by you, surely ?

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30 Jan 2008 21:36 by nfm2862 Star rating in Welling, Kent & Al A.... 1526 posts Send private message

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I have emailed the solicitor but going on past form it will take 6 emails & probably as many weeks to get a response!

It also occurred to me that he hasn't ever sent me the original copies of our NIEs - I have asked for them.

I have also asked for the original POA back as well.

If anyone knows the answer then at least I will have my facts straight if I need to challenge his answer.

Noreen



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01 Feb 2008 16:45 by yayuer Star rating. 3 posts Send private message

The original  of your deeds are in the office of the Notary. You can ask for a copy that has the same validity that the original.
I suggest that you should request a "Nota simple" at the Spanish Land Registry. You can do this by internet. With this certificate you could know the ownership of your apartment.
 




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01 Feb 2008 18:10 by Pat and Roy Star rating in Hertfordshire. UK. .... 1090 posts Send private message

Hi Noreen last time we was over we went and got our deeds from the solicitor we was using, but we changed to Glyn the lawyer and he told us that deeds are not as important as they are in  England but we have given him the original and taken a copy, I do not know what happens if you have a mortgage, does the bank keep it like UK ? We do have our original N IE's we kept them on the day we got them, hope this helps. Pat

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01 Feb 2008 18:19 by morerosado Star rating in Guardamar del Segura.... 7681 posts Send private message

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We paid cash, no mortgage & notary released our escritura to our agent once all monies were paid & agent gave it to us.

 

On the other hand our wills (originals) are kept at the notary who witnessed our signatures.



This message was last edited by morerosado on 2/1/2008.

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01 Feb 2008 18:35 by nfm2862 Star rating in Welling, Kent & Al A.... 1526 posts Send private message

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Thank you everyone for your replies.

Still waiting for a response from the solicitor but am I surprised? - that would be NO!

Noreen



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01 Feb 2008 18:52 by carolandrichard Star rating in West Yorkshire and P.... 92 posts Send private message

Hi Noreen

We also have a mortgage and asked our bank about the deeds. They were locked in a safe in the bank and although I asked for a copy she gave me the full file, I just had to sign something to say I had them.





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01 Feb 2008 19:26 by nfm2862 Star rating in Welling, Kent & Al A.... 1526 posts Send private message

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HI Carolandrichard

The solicitors ears must have been burning!

I have just had a response & he says that the bank have them.

I will now check with the Bank just to make sure & also to see if I can get a copy.

Thanks again for all the replies.

Noreen



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12 Feb 2008 09:08 by Lauryc Star rating in Was South Devon .. n.... 568 posts Send private message

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We have a bank mortgage on our Spanish property and the manager gave us our full, notarised Escritura as soon as it came through from the land registry.  About 3 months after purchase.

 

Laury



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12 Feb 2008 11:35 by mariadecastro Star rating in Algeciras (Cadiz). 8057 posts Send private message

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Noreen:

Ask your solicitor for the deeds and check the property is duly registered under your name in the Lang Registry!
Maria

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12 Feb 2008 12:02 by morerosado Star rating in Guardamar del Segura.... 7681 posts Send private message

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Hi Noreen, seems you are quite entitled to have the actual deeds not just a copy. Make sure you get it.

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14 Feb 2008 08:52 by paulacsa Star rating. 3 posts Send private message

 

Dear nfm 262:

The original deeds which are signed at the Notary are kept at the Notary office, so you will always be able to ask for a copy of the same ( called " copia simple")

Once the purchase deed is signed, the Notary keeps the original Deed and he issues a first copy which is the one which is taken to the Land Registry so your ownership can be registered.  The Land Registry takes around one month to register the ownership and then the first copy of the Purchase Deed can be returned to the buyer.

Normally, the First Copy is taken to the Land Registry by the lawyer, but if you sign a mortgage to finance the purchase, the Bank will arrange all the aspects regarding: paying of purchase deed, mortgage deed, purchase taxes ( VAT, Stamp Duty...), registration of mortgage and ownership at the Land Registry.... This is due to the fact that the Bank wants to control that the mortgage is duly registered under your name and as a charge of the property.  Afterwards, the Bank must give you back the Purchase Deed.

As Maria de Castro said you can alway ask for a Nota Simple at the Land Registry to check that the property was duly registered under your name.

Paula Salamanca - Lawyer





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14 Feb 2008 08:55 by paulacsa Star rating. 3 posts Send private message

 

My apologizes for my English!





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14 Feb 2008 09:19 by morerosado Star rating in Guardamar del Segura.... 7681 posts Send private message

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Welcome Paula. Your help is invaluable.

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14 Feb 2008 09:22 by nfm2862 Star rating in Welling, Kent & Al A.... 1526 posts Send private message

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Hi Paula

Many thanks for the information & also thanks to everyone else who has provided details.

Regards

Noreen

 



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www.vera-apartment.com

www.verathalassa.es 
 




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14 Feb 2008 10:50 by mariadecastro Star rating in Algeciras (Cadiz). 8057 posts Send private message

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Dear Paula, colleague:

Welcome to the forum! You can enjoy this site a lot.

Where are you based?

Best regards,

Maria L. de Castro

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Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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14 Feb 2008 11:46 by paulacsa Star rating. 3 posts Send private message

 

Dear Maria:

Thanks !  My office is based in Marbella, though we also have clients in rural areas in Granada and Malaga. 

The law firm where I work is Costa del Sol Abogados.

Best Regards for everyone and I wish you all a Nice Day.

Paula





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