THE PURCHASING PROCESS

Registry

Registration of the Title Deeds

Once the Title Deeds has been signed, the Notary will send a fax to the relevant Property Registry to begin the formal procedure for registration of the new title deeds and to avoid that the property is sold twice, to safeguard and warrant your interest. Although this process is not compulsory it is strongly recommended.

The whole process usually takes between one and three months, depending on the workload in each particular Property Registry. In the interim you can request a copy of the records (copia simple) from the Notary or your Lawyer.

When registration has been completed the Property Registry will get in touch with your lawyer to inform him that the title deed (Escritura Pública) is ready for collection.

Finally, as well as overseeing the registration of your title deeds, your lawyer will also arrange payment of the various taxes arising from your purchase. In addition, he can help you to make contracts with suppliers of utility services like water and electricity and arrange for your bills to be paid by standing order from your Spanish bank account.

PREV.     NEXT

1. Finding a Property.
2. Real Estate Agents.
3. Choosing a Lawyer.
4. Negotiating the purchase.
5. The Reservation Contract and Deposit.
6. Exchange of Private Purchase Contracts.
7. Completion.
8. Registry.
9. Special Considerations when buying Off-Plan.
10. Fees when buying.
11. Taxes when buying.
12. Other Expenses.
13. Differences between the contract price & the amount actually paid.

Selling

1. Real Estate Agent & Lawyer.
2. Fees when selling.
3. Taxes when selling.

Charges Taxes & Expenses for Property

1. Service Charges in Communities.
2. Annual Real Estate Tax. ( IBI )
3. Rubbish Collection Tax.
4. Capital Assets Tax.
5. Property Owners’ Imputed Income Tax.
6. The Tax Returns.
7. Insurance.
8. Mortgages.

Other Legal Matters

1. NIE – Identification number.
2. Open Spanish Bank Account.
3. Making a will in Spain.
4. Inheritance Tax.
5. Investment Opportunities on Spain.

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