What every property owner should check....
Tuesday, August 19, 2008 @ 11:23 PM
Tip of the Day:
As a buyer, once you have signed your completion purchase deed (Escritura de Compraventa) at the Notary, you should ask for a Copia Simple. This is a stamped copy of the title deed. In the weeks following the completion, you will receive your bound official Escritura. This is sometimes sent to your lawyer, or for those taking out a mortgage, it may be held by your bank.
IMPORTANT TIP: About 2 to 3 months after your completion you should double-check with the Property Registry Office (Registro de la Propredad) in your local area to ensure the property you have purchased is now officially registered in your name. YOu will need to apply for a NOTA SIMPLE, which is summarised verison of your title deed containing details such as ownership, property description, finca number and charges. If you apply in person it can take up to 48hours and cost about 3 to 5 Euros. If you apply online it will cost you about 9 or 10 Euros, and the Nota Simple will be emailed to you as a PDF within 24hrs. You can apply online at www.registradores.org and click on the link title Registro de la Propiedad. You can use the FINCA Number on your copia simple to apply. (The finca number is a unique property ID number for your property as regsitered with the local registry)
It is important to check the Nota Simple for the following:
1) The property is now registered in your name (and not the previous owners)
2) If the previous owner had a mortgage, this no longer appears
3) If you purchased with a new mortgage, this should be correctly reflected
4) The correct dimensions, description and Finca number appear on the Nota Simple
5) There are no unexpected embargoes or charges against the property
If there are any problems or issues ensure you consult your lawyer and the Notary.
The reason why it is important to check, is that sometimes mortgages and old debts and charges remain on a property. While they may have been economically cancelled at the time you signed your escritura, they may not have been correctly removed from the registry office and as a result still appear on your Nota Simple
www.registradores.org
www.nakedagentspain.com
YOUR 'STRIPPED-DOWN' GUIDE TO BUYING A PROPERTY AND GETTING A MORTGAGE IN SPAIN
Hasta Luego.