Nota Simple - okay if a current mortgage shows up??

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02 Nov 2012 3:28 PM by Chloeinspain Star rating. 2 posts Send private message

Hello,

This may seem like a basic question and I hope I am not repeating this question.

I have made a verbal offer on a second hand apt and it has been accepted. Before signing a contrato de arras I want to check that everything is in order.

The nota simple indicates that the current owner has a mortgage on the property. How does this work moving forward?

Also, there is a phrase that I just don´t understand:

- Affecion: afecta la posible revision por la autoliquidacion del Impuesto de Transmisions Patrimoniales y Actos Juridicos Documentados por el plazo de CINCO años, a partir del 19 de Octubre de 2012. Habiéndose Liberado la cantidad de TRESCIENTS TREINTA y OCHO CON SESENTA Y CUARTO euros. Does anyone know what this means?

Thanks for your help!

Chloe





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02 Nov 2012 4:02 PM by johnzx Star rating in Spain. 5242 posts Send private message

Chloe

 

 

It is common in Spain that a new owner can take over the existing mortgage.  In which case a representative of the Bank will be present at the Notary office when you sign the contract  and buy.
 
If you do not want or need the mortgage, the representative will sign off the debt  as cleared when the funds are paid by the new owner.
 
 
When you complete before the notary (which is the only way to do it) the Notary will have obtained a ‘Nota Simple’ of the escritura, I believe within the maximum of 24 hours before. He/she will not allow the sale if there are outstanding claims registered in the property at the Property Registration Office.
 
The part you posted in Spanish,  I think is just a warning that the Nota is correct at the time it was issued but that it could change in the future.

 

 





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